2021 Strategic Leasing Plan - Illovo Thrupps Centre
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2021 Strategic Leasing Plan
Fact Sheet
Original Developer Stocks and Stocks
Year developed 1994
Last refurbishment 2010
GLA 13 299
Landlord Capital Propfund 3 (Pty) Ltd
ERF Number 106, 107, 108 (Illovo East 1B)
Centre Classification Community
Amenities Free Uncapped WIFI for 1 hour
Website Website www.thruppsillovocentre.co.za
Social Media Facebook @thruppsillovocentre
Instagram @thrupps204
Retail & Retail: 26 | Commercial: 26
Commercial Anchors Including medical & health services
Thrupps Grocer, Fishmonger, Turn n Tender
Nationals/Franchises Clicks, Wellness Warehouse, Barre Body, Missfit
Illovo ATM’s Standard Bank ATM, First National Bank ATM, Absa Bank
ATM
Unique Line Shops Individually branded line shops, restaurants and services create a unique
tenant mix
Fishmonger, Turn n Tender, Chateau Gateaux, Skin Renewal, Youbar
Hair and Nails, Youbar Nail and Skin, Sunray Chemist and fully fledged
Medical suites
Parking 527 parking bays including 6 disabled bays / 4 elderly bays / 4 loading
(Paid parking managed by Servest) 450 basement parking bays and 77
Open parking bays
Average vehicle count 35,203 per month / 1,174 per day
Parking Tariffs 0 – 2 hours free
2 – 3 hours R10
3 – 4 hours R15
4 – 5 hours R20
5 – 6 hours R30
6 – 7 hours R40
7 – 8 hours R50
8 + hours R150
Lost ticket R200
Trading Hours Monday to Fridays 09h00 to 18h00
Saturdays 09h00 to 14h00
Sundays 09h00 to 13h00
Public holidays (optional)
Earlier/later trading hours apply to restaurants
and specific shops.
Age
30-39
Competing Centres
Point of Interest/Customer Base
Hyde Park Corner Park High School
Community Centre
Regional
Analysis
The Centre is in an area with a higher-than-average number
of shopping malls, in part due to the highly concentrated
population in the area. Over the past ten years, there has been
a tremendous change in the population that live and work in the
area, in line with the changes happening nationally in the country.
Two regional retail nodes fall within the catchment area:
Rosebank and Sandton
Blue Bird Shopping Centre has expanded to include a Checkers
outlet. It will also expand further due to the development of
multi-residential units.
There a number of smaller shopping Centre’s around Illovo like
Illovo Junction, Illovo Square, Post Office Centre, Illovo Muse
and upcoming new developments of Offices in and mixed-use
ROSEBANK
Centre’s on Oxford road from Rosebank all the way to Sandton
City. (Illovo Point, Maponya apex,). The area has become a
favourable location due to the development in the area.
There is construction of residential apartments in the area now.
There are approximately 30 000 households in Illovo, Rosebank,
Killarney and 55 000 in closer Sandton. In the early 2000’s,
the profile of the people who lived in this area, comprised an
older and established market with grown up children not living
with their parents. At the time there were many single person
households (including retired). The area slowly changed as
younger people started to move in to the area due to the close
proximity to working areas, schools, i.e. Pridwin, St Davids,
Kingsmead School etc.
St David’s Marist
MITG Tutors
Flight Centre Sandton SANDTON
Ferguson’s 5th Floor
lllovo Bed & Breakfast
Illovo Square Shopping Centre
Post Offce Centre
GIBS Business School
Illovo Muse
Bluebird Shopping Centre
Life Healcare Centre Fairways Primary School
Norman Goodfellows Illovo Imperial Wonders Stadium
Wanderers Golf Club Discovery Soccer Park
Wanderers
Illovo Junction
Bottom Oval: Wonderers Cricket Club
The Wonderers Club
Planet Fitness
Pridwin Preparatory School
AD
RO
D R
FO
OX
Kingsmead College
Leasing
Convenience. Proposing longer
trading hours for our anchor
tenant, Thrupps Grocer, to trade till
19:00.
Vision
Ensuring the availability of fast
foods and vegetarian food i.e.
Mochachos, Debonairs, Steers,
Fishaways, Romans Pizza, Pizza Hut.
To offer attractive coffee shops and
other eating places i.e Just Darling,
Bagel.
The main drive remains the conve-
nience factor, health and wellness
and grocery shopping.
SWOT
Analysis
STRENGTHS OPPORTUNITIES
• Plenty of parking – 2 hours free • The proposed redevelopment of
• Close to the gautrain station and the Centre is an opportunity to
next to bus routes work our tenant mix
• Centrally located, great position • Re look at Anchor tenant trading
within a high-density area hours
• Friendly, welcoming and relaxed
atmosphere offering convenient THREATS
shopping • Rental levels
• Ongoing development • Loadshedding
around Illovo boundaries has • Declining trading densities
advantageously affected the • With COVID19 we have seen
area news of more companies
• Great tenant mix – mostly closing, shrinking in size,
lifestyle delaying expansion due to weak
• Offers easy and convenient business confidence and very
services poor economic outlook
• Offices in trouble due to
WEAKNESSES swelling oversupply, work from
• Existing Anchor tenant focuses home trends
on a narrow market and • Rising vacancies
demographics are changing • Higher operating expenses
• Lack of breakfast and lunch • Rental reversions and remissions
eateries • Blubird shopping Centre, Illovo
Square
Current
Vacancies
MEDICAL SUITES RETAIL
S201B: 70.84m² office available in South Block, 2nd Floor G07: 272m² Shop available on Ground floor
S202: 89.37m² office available in South Block, 2nd Floor G16: 89.59m² Shop available on Ground floor
M01: 39.87m² Suite available in the medical suites, 1st Floor G17: 99.2m² shop available on Ground Floor
M07: 81.35m² Suite available the medical suites, 1st floor G22A: 111m² shop available on Ground Floor
N201: 87.48m² office available in North Block, 2nd Floor L01: 92m² shop available on Lower Ground
N205: 77.44m² office available in North Block, 2nd floor L03: 88m² shop available on Lower Ground
N208A: 116m² office available in North Block, 2nd Floor M06: 268m² shop available on 1st floor
N208B: 67.13m² office available in North Block, 2nd Floor
Competing Schools Medical
Centres Analysis Analysis
Analysis Schools in the area: which are We have 2 vacancies in the
huge supporters of Lovemore Medical Suites.
Music Instruments. Suite 07 measuring 81.35sqm
ILLOVO SQUARE
Suite 01 measuring 39.87sqm.
Parking not easily accessible,
ST DAVIDS MARIST
poor layout of centre.
PRIDWIN PREP Possible tenants for Medical
KINGSMEAD General Practitioner,
Retail rentals from
HYDE PARK HIGH Gynaecologist, Dermatologist, IV
R233 – R260 per sqm
Bar, Audiologist
2 vacancies
Idea is to approach Melrose North
Medical Centre, Blubird Medical
BLUBIRD SHOPPING
Centre, Sandton Medical Mews
CENTRE
Has 2 anchor tenants, Checkers
and Woolworths as well as
Dischem, these draw feet to
the centre.
Poor lighting in parking bays,
parking bays too narrow.
Modern Medical Suite rentals from
R220 per sqm
Retail rentals from
R250 – R307 per sqm
ILLOVO MUSE
Parking entrance not visible hence
most of their customers park at
Thrupps.
POST OFFICE CENTRE
Post Office & Herbert Evans
3 vacanciesTrading
Densities
TRADING COST
TENANT PREMISES LEASE AREA GLA %
DENSITY OF OCC
Sunray Chemist G11 126 0.95 6930 5.21%
Jeffrey Meyer
L01A 67.48 0.51 5775 8.60%
Optometrist
The Fishmonger G13A – G15 420.30 3.16 4950 7.87%
Wellness
G12 138.10 1.04 4234 6.00%
Warehouse
Chateau
G020A 106.19 0.80 3785 13.46%
Gateaux
Youbar hair &
L02 100 0.75 3524 13.24%
Nails
Turn n Tender G01 – G06 355 2.67 2877 13.83%
Lovemore Music G09B 290.76 2.19 2595 10.56%
Thrupps Grocer L05 4055.80 30.50 2486 7.56%
Youbar Nail
F02 93.40 0.70 2324 19.46%
& Skin
Postnet Illovo G09 69 0.52 2052 23.50%
Skin and Body
F03 320.22 2.41 1980 19.80%
Renewal
Jetline E. Com G020 211.92 1.59 1980 17.59%
The San Hair
GF08 84 0.63 1881 16.33%
Salon
Clicks G18 329 2.47 1670 12.47%
The White
G13 128 0.96 1144 31.00%
House gallery
Techtronic G10 40 0.30 430 97.03%
Missfit Boxing
N102A 116 0.87 379 57.47%
Gyms
Barre Body N103/N104 188.34 1.42 289 68.54%
House of Indoni G16 89.59 0.67 190 --
Tony’s Italian
SH1001 79.14 0.60 180 126.19%
HairdresserThrupps
Turnover Feb 2020/2021
TURNOVER TURNOVER
TENANTS VARIANCE
MAR 2021 MAR 2020
Whitehouse Gallery 280,000.00 69,000 306%
Youbar Nail & Skin 292,778.00 281,249 4%
Skin Renewal 865,415.00 938,274 -8%
Freshwash Carwash 4,800.00 - 0%
Techtronic 5,300.00 30,713 -83%
Chateau Gateaux 496,648.00 341,043 46%
Chocolat Verviers 14,569.86 - 0%
Thrupps Grocer 9,409,906.00 12,172,279 -23%
Tonys Italian Hairdressing 18,513.00 20,340 -9%
Youbar Hair & Nail 422,804.00 313,238 35%
The San Hair 52,600.00 - 0%
Lovemore Music 746,001.00 855,834 -13%
Jeffrey Meyer Optometrist 526,000.00 391,000 35%
Clicks Retailers 484,349.00 812,662 -40%
Wellness Warehouse 586,107.00 803,693 -27%
Sunray Chemist 1,028,322.00 1,060,189 -3%
Jetline Illovo 706,270.00 401,034 76%
Postnet Illovo 189,223.00 157,223 20%
Turn n Tender 1,370,980.00 1,983,300 -31%
Fishmonger 3,360,566.00 1,943,535 73%
Farro - 175,694 -100%
Ritual Gym - 135,000 -100%
Barre Body 66,282.00 45,270 46%
Missfit Illovo 56,000.00 - 0%
House Of Indoni 5,795.00 - 0%
Lapadrino 73,628 -100%
GRAND TOTAL 20,989,228.86 23,004,198.00 -9%Thrupps Grocer
Thrupps Grocer
Outside Seating
L03 92m2
Jeffery Meyer
Youbar
Optomitrist
L01 88m2
Lower
Level
Thrupps Grocer
28% growth yearly
2 vacancies
L03 (92m²),
L01 (88m²)
Possible Tenants
Absolute Pets, Vetsmart, Crazy Pets,
Mica Hardware, Universal PaintGF16 89m2
GF17 99m2
Fishmonger
W alle
GF21
hit
358m2
G
eh ry
We eho
Wa
ou
lln use
r
se
es
Jetline
s
GF22
79m2
Chemist
GF22A
Sunray
111m2
Music Centre
Chateau
Gateaux
PostNet
GF07/08
Ground
350m2 Turn ‘n Tender
Floor
Possible new tenant Woolworths to Shop G21 likely to be vacant – offer
take over weaker side of Centre Specialised pop up for 6 months
Suggestion would be to relocate also adding 2 ATMS on this level
Jetline to Shop G07 which is (Capitec Bank and Nedbank ATM)
closer to Postnet in order to
accommodate new Anchor Tenant
which will draw feet to the quieter
side of the centre or alternatively
relocate Jetline to Shop G22
& G22a. (Potential – Capmor
Stationers for Shop G07.)
Other alternatives for 89m² & 99m²
- Clicks Expansion or approach
Body Shop, purely frozen, lexi’s
eatery, Just Darling, Momo
bauhaus, Brother Whisky,
The Fridge
111m², 79m² and a portion of G21
– potentially approach Famous
Brands for Debonairs, Steers and
Fishaways, then offer Mochachos
to have a lunch fastfood for the
area , possibly look at Doppio
Zero, 86 Public, Salsa Mexican Grill,
Rocomamas, Jozi and possibleS07 Medical Fund
Suite 06 59m2 Management
268m2
Skin Renewal
Tony’s Youbar
Centre
Mangement
Missfit
Boxing
Maureen
Kark & Barre Body Property.com
Associates
1st Floor
Suite 06 268m²
Suitable for a gym for both male
and female, to be potentially
subdivided – Go Health, Motion
Fitness
South Block
Potentially look at Razorite to con-
vert whole 1st floor in south block
to Medical suite - or converting it
into a showroomForestry Jeff
SA Zidelex
Management
Air
CBR
Bros Trust
83m2
S202
Glazer
S201B
Darryl Ackerman
56m2
Attorneys
DNAnalysis Ablutions
Investments
Bras n
Proud
Things
BAU Africa
Maynard Menon
Fishmonger
Offices
N201
76m2
Mainstreet
Asia
Snob Swop Piguet Kahn Dr. Zaslansky
Jewellers
2st Floor
North Block South Block
3 vacancies 2 VacanciesObjectives
and Goals
• Place suitable restaurants that cater for Breakfast and lunch
• Ensure our brochure is updated and loaded on the website
• Introduce more Pop Ups & Exhibitions, branding of lift doors, escala-
tors and boom gates to generate non GLA income
• Have regular broker functions dates proposed 05/05/2021;
14/04/2021; 23/06/2021 & 15/09/2021
• Canvassing of tenants, driving between Centres and offices to find new
tenants to be done monthly
• List our vacancies on www.rentbay.co.za ; www.gumtree.co.za; www.
spacematch.co.za
PROPOSED ANNUAL EVENTS
• Shavathon
• Music Festival: Battle of the choirs
• Arts Festival
• Food & Wine Festival
• Health & Wellness Day/ Fit night
CHARITY CAMPAIGN – ZENZELENI PRIMARY &
PHOLOSHO SECONDARY
• Winter drive: Blankets and Clothing
• Gumboots & Seeds
• Sanitary pads
• Canned foods
• School shoe & socksConclusion
LEASING is advisable to make great use of temporary and
• Review existing tenant mix and location flexible spaces that accommodate different stores
• Reduce vacancies in the centre, canvass for new over time. Popup stores, showroom spaces and
tenants kiosks.
• Better tenant mix • In the South Block on the 1st floor, we have an
• Create leasable space by improving and atrium which is unused, we will be incorporating a
eliminating less desirable tenants natural ambience into our design, we put a rooftop
• Introducing more kioks and exhibitors including garden with plants which will be selling point for
weekend markets for non GLA income. the 1st floor vacancy as it will be a pause area.
• The upgrade of Centre, and cosmetic modernizing • Now the age profile of Illovo and surrounding
will allow customers to enjoy their shopping areas has changed as it is now younger with new
experience therefore retaining existing customers working professionals moving into the area with
and attracting new customer and will also result in their families. It may be important for
a lot of foot traffic in the Centre. • Thrupps Illovo Shopping Centre to refocus its
• Facelift of anchor store premises target market to attract these young professionals
• The neighbouring Centre (Illovo muse) has into the Centre. We may have to look and
become a social attraction for the younger age placing tenants suitable for a younger crowd i.e.,
profile of the surrounding area with Beefcakes, entertainment, cocktail bar, more pop-up stores i.e.
eighty-six public and Hogshead as attractions for Maverick and Jane gaming stores & bookstores.
after work and weekend entertainment, socializing, • Continuous upgrade on the shopping Centre
drinks and eating. Introduce cocktail bars like Jozi needs to happen with the new developments
Gin; Seattle Coffee; Book stores; Salsa Mexican being built in the area to keep the Centre relevant
Grill, Just Darling to attract a younger crowd who and up to date to increase and attract new foot
mostly now reside in the surrounding area. traffic and passing by traffic
• Active entertainment facilities to be developed MARKETING
to pull more customers and develop it as a • Building on the existing marketing strategy and
destination Centre continue to create awarenes of the centre to both
• With huge common areas in the north block, it customers and potential tenantsYou can also read
