Limpopo’s Thohoyandou gets R900m Shopping Mall

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Artist's impression of Thavhani Mall for Thohoyandou in Limpopo’s Vhembe District Municipality to break ground in June 2014. Artist's impression of Thavhani Mall for Thohoyandou in Limpopo’s Vhembe District Municipality to break ground in June 2014.

Thavhani Property Investments in partnership with Flanagan & Gerard Property Investments, will be establishing a new R900 million Thavhani Mall for Thohoyandou in Limpopo’s Vhembe District Municipality.

The last 30 to 40 years SA Commercial Prop News noticed South African retail market shifted from traditional high street retail to large shopping centres in cities such as Johannesburg, Cape Town, Durban and Pretoria.

Since 1994 there has been a steady increase in retail supply in the former regulated townships, with the latest retail development trend focusing on smaller towns and rural areas.

Thavhani Mall will break ground in June this year and is expected to open in April 2016 as announced today by the joint owners, Flanagan & Gerard Property Investments and Thavhani Property Investments.

Its development is said to be a realisation of a plan hatched by local businessman Khosi TJ Ramovha of Thavhani Property Investments. “After five years of planning, it is pleasing to see it become a reality,” says Ramovha.

Patrick Flanagan of Flanagan & Gerard said the Mall’s tenant mix will be led by two supermarket anchors, three fashion anchors and at least two major banks.

He adds: “It will introduce several new retailers to Thohoyandou and include a variety of fashion, accessories, furniture, electronics, health and beauty and much more. It will also include a lively food court with restaurants, which will become an exciting meeting place in the mall.”

The 55,000sqm double-level centre benefits from an location right at the heart of the Thohoyandou’s central growth node, which positions it to become the region’s dominant mall.

Thohoyandou is the administrative centre of Vhembe District Municipality and Thulamela Local Municipality.

Thavhani Mall enjoys access and visibility on a 76 ha site at the intersection of the R524 road to Makhado, formerly Louis Trichardt, and the new road which links Giyani to Sibasa and surrounding rural areas. It will incorporate a taxi rank.

The mall is estimated to create between 1,500 to 2,000 sustainable jobs after it opens and Thohoyandou to retain around R200 million in retail spend, which is currently being spent outside the town.

The Vhembe District Municipality and the Thulamela Local Municipality have outperformed in average economic growth in recent years. The nearly 400,000 residents in this primary trade area comprise almost 90,000 households. They span the full living standards measure spectrum, but are predominantly in the lower LSMs.

Among other property sectors, retail remains the best-performing property investment in South Africa and in 2012, retail posted a total return of 17.1%, with an income return of 8.4% and capital growth of 8.1%.


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