January 8 2024 14:30
SOUTH AFRICA
Hyprop Investments, the retail specialist landlord has announced a large expansion to its Somerset Mall, the largest shopping destination in the Helderberg region of the Western Cape. Hyprop’s CEO Morné Wilken last year said the group was more likely to invest in the Western Cape in the coming years than other provinces in South Africa. Hyprop said on Monday that Somerset Mall would benefit from a “landmark expansion project aimed at redefining retail in the Western Cape”. The first phase of this redevelopment was scheduled for completion by November 2025 and would add 5,500 square metres of retail space.
“Somerset Mall’s expansion is about more than just adding space; it’s about creating a place that brings people together. This redevelopment will elevate the shopping experience with timeless design and enhanced amenities, making the mall a true hub for connection and community,” said Mandy Bellamy, general manager of Somerset Mall.
The expansion will improve Somerset Mall’s position as a retail and leisure hub in the town of Somerset West. It is located at the intersection of the N2 and R44 highways. The shopping centre attracts a diverse audience, from residents to international travellers.
“This redevelopment is designed to capitalise on Somerset West’s rapid growth,” said Wayne Abegglen, Hyprop Portfolio Executive for the Western Cape.
This expansion project is mainly driven by strong demand for retail space that exceeded Hyprop’s capacity to accommodate both existing and new tenants looking to increase their footprint or open new stores. Since 2018, Somerset Mall’s vacancy rate ranged between 0% and 0.1%, and it has been fully let for the past two financial years.
Hyprop will improve the centre’s flow and upgrade tiles in bathrooms as part of a repositioning strategy.
“We’re introducing over 50 new stores, with a focus on athleisure and affordable luxury brands, family entertainment, and a wider variety of food and dining options. Additionally, we aim to enhance customer amenities to set a new standard for retail excellence in the region,” he said.
The mall’s upgrade will include retiling the entire centre with timeless, modern designs and upgrading bathrooms to feature contemporary, facilities, Bellamy said.
“These enhancements will create a refreshed and sophisticated environment that elevates comfort and convenience for visitors,” she said.
The redevelopment will also include family-focused entertainment spaces, restroom renovations, and improved dining options, all aimed at creating a destination for connection and relaxation, she said.
There will be electric vehicle charging stations, a golf cart shopper shuttle, and an art section featuring the work of sculptor, Marco Olivier.
“As we embark on this significant transformation, we’re proud to contribute to the Helderberg region’s economic growth and job creation. Somerset Mall is more than a shopping destination, it’s a cornerstone of our community, and this expansion reflects our commitment to enhancing its role in the lives of our visitors,” Bellamy said.
The mall’s catchment area consists of 44.4% of upper-middle-income earners. Somerset Mall attracts over 9.3-million visitors each year and the redevelopment will boost foot traffic, tenant revenue, and regional investment, according to Abegglen.
“We’re investing in Somerset West’s future. This project will provide a platform for local entrepreneurship, attract high-quality tenants, and create lasting value for the region,” he said.
Wilken said the Western Cape had grown in importance for Hyprop.
“There are plans for further expansions at Somerset Mall, CapeGate and Table Bay Mall, all of these will be driven by tenant demand,” he said.
“Currently, we are applying for additional bulk rights at Table Bay Mall and plan to increase the retail GLA at CapeGate. In addition, Giflo and SOM are developing satellite office sites adjacent to CapeGate through a leasehold development agreement currently underway. This development will enhance the precinct and increase the area’s density, ultimately benefiting CapeGate Shopping Centre,” he said.
“We are always open to exploring opportunities. However, our preference is for retail centres located in key economic nodes,” Wilken said.
alistair@propertyflash.co.za
