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Jun 21, 2007:
PARTNERS Liberty Group Properties and Growthpoint Properties will invest R200m in Alberton City Shopping Centre to create another 10000m² of retail space to meet growing consumer demand in the key southeast Johannesburg market.
Liberty Properties deputy developments MD Caswell Rampheri and Growthpoint retail sector head Neil Schloss said the decision to upgrade and expand the centre was prompted by strong growth potential in the booming retail catchment area and the pull that would be exercised by a more upmarket ambience. The investment is in line with the emergence of southeast Johannesburg as a major growth area. Industry and commerce have experienced a significant economic upturn in the Alberton-Germiston conurbation in recent years.
The centre boasts 39000m² of retail space with Woolworths, Checkers and Game among the anchor tenants.
Rampheri said the upturn was reflected in higher consumer levels, rising aspirations and the desire among shoppers to seek an enhanced retail experience.
He attributed the success of the retail portfolio to the ability to anticipate market changes and trends, and said Alberton City could become a leading retail location. “The new investment will unlock this potential in the short and medium term.”
The nine-month construction period begins in the second half of this year. The extension brings on stream new stores including Edgars, additional undercover parking and a modern security control room. Built in 1985, Alberton City serves central Alberton , Thokoza, Katlehong, Brackenhurst and Eden Park.
