Galeshewe Shopping Centre
Galeshewe is a township, located in the Northern Cape Province of South Africa. The closest town to Galeshewe is Kimberley. The proposed development will be in the center of Galeshewe. The catchment are for this development is a population of 153 198.
Currently there are only two convenience shopping centers located within the Catchment Area; the Galeshewe Plaza (2800 m²) and the Barkley Road Shopping Centre (5000 m²).
The residents of the Catchment Area travel mostly into Kimberley for higher order goods and a better shopping experience. The owners of this property have thus seen the opportunity to develop a 10 000 m² neighborhood Shopping Centre.
Shoprite (one of South Africa’s largest retailers) saw the potential in this development and was the first tenant to express interest as the anchor tenant. Subsequently we have filled almost 75% of the development with potential blue chip tenants.
With the estimated opening yield of the development being 8,5% and 262 direct jobs and 1 425 indirect jobs being created, this development won’t just be economically viable for the developers, but should also have a very positive social impact on the community of Galeshewe.
Galeshwe Shopping Centre Development Summary
- Owner: Galeshewe Development Company
- Erf: 18734, Kimberley, Cnr. Ramatshela Street & Maputle Street
- Township Development: Galeshewe, Kimberley
- Erf size: 2.7130 Hectares
- Zoning: Business
- Construction Area: 9 929 m²
- Rentable Area: 9 239 m²
- Efficiency Ration: 93%
- Total project cost: R 125 924 240
- Anchor tenant: Shoprite (2 800 m²)
An independent Market Report / Desktop Assessment have been completed to determine the viability of the project. Please note: This is a desktop service and did not include a site / area visit, or competitor analysis. Recommendations in this report are subject to the completion of a full feasibility study.
Potential investors interested in the development are encourages to contact the Galeshewe Shopping Centre Development team via the contact form below.