Our approach to sustainable business includes selecting the locations of our properties based on the resilience of the areas surrounding them. Through active asset management and redevelopment, we concentrate our investment in these critical nodes to extract and enhance value on a much greater scale than would be possible in a portfolio of properties scattered throughout the country.
Fourways is undoubtedly the best example of our nodal approach. Our focus over the last several years has been on developing Fourways into a business and lifestyle node like no other. It is an area full of potential, with a growing number of high-income residences that are in proximity to future and current transport hubs. We are excited about the broader development of the node and expect it to become the most dominant retail market in South Africa.
Within this node, the Fourways Mall Development is the crown jewel and is expected to be largely completed towards the end of 2019. Situated in the heart of the Fourways node, it is a landmark shopping centre that provides the unique differentiator of being the first truly integrated shoppertainment destination in southern Africa. With various children’s entertainment offerings, including Bounce, which opened during 2016, and the interactive KidZania ‘city’ built entirely for children (opening soon), family entertainment within the mall is set to be a huge drawcard for the growing number of families in the area.
We have a nodal strategy for property investments. We identify a strategic node by looking at, among other factors, transport routes, growth and densification. Thereafter, we buy, develop or redevelop in these strategic nodes. This allows us the flexibility to assist tenants and maximise value by developing properties that enhance the value of the area.
Fourways lies on the northern outskirts of the Johannesburg metropolis along key transport routes. Fourways has seen considerable growth in residential dwellings over the last five years, which has increased demand for retail and office space.
|Total GLA||174,944 m2|
|Properties||Fourways Mall, Cedar Square, BMW, The Buzz and Leaping Frog|
|Undeveloped bulk||The area surrounding the BMW dealership on Cedar Road, and the bulk around Cedar Square Shopping Centre and the Buzz Shopping Centre|
|Development||Ongoing Fourways Mall Development|
|Anchor tenants||Woolworths, Pick n Pay, Virgin Active, Game, Nedbank, Edcon Group, Foschini Group, H&M, Hamleys, Bounce Inc.|
The Foreshore is situated between Cape Town City Centre and the Port of Cape Town. Much of the area is occupied by transport infrastructure for the port, office buildings and the Cape Town railway station. The Cape Town CBD remains extremely resilient as a premier, global destination.
|Total GLA||52,152 m2|
|Properties||Portside, 101 Hertzog, Thomas Patullo, Oceana Head Office, Mustek House, and Murray & Roberts|
|Acquisition potential||We remain acquisitive in the node, with existing first right of refusal on quality buildings such as Chevron, BMW and Netcare Hospital|
|Development potential||The Murray & Roberts acquisition comprises two erven adjacent to Accelerate’s Foreshore properties. There is significant commercial and retail development potential for this precinct, which we intend to unlock|
Charles Crescent is conveniently located near the M1/N3 highway and Sandton. The precinct is close to the Sandton and Marlboro Gautrain stations and lends itself to future development.
|Total GLA||38,643 m2|
|Properties||1, 8, 9 and 10 Charles Crescent, Brooklyn Place and PriMovie Park|
|Anchor tenants||Primedia, Scottish Knitwear (Pringle)|
|Current strategy||Active asset management focus|
|Future strategy||This is a future growth node earmarked for conversion into a multi-purpose node that will include residential, retail and office (mixed used development) property|