PARKDENE PALMS SHOPPING CENTRE - Leasing Worx

P ARKDE NE P ALM S
      SH OPPI NG C E NTR E

BOKSBURG
GAUTENG

I N T RO D U C T I O N

Parkdene Palms is ideally located on Rondebult       The zoning and all the required consents are in    We are confident that this development is via-
Road which is a main arterial route and the main     place to proceed with this development. No time    ble, executable, well researched and packaged
link between the N12- and N17-highways (North-       delays will be experienced in respect of Town      to commence as soon as we have commitments
South link). Rondebult Road is used daily by thou-   Planning and Traffic Impact Assessments. Several   from the national retail tenants. From our initial
sands of people and makes Parkdene Palms a           Demographic Studies were done over the past 8      discussions we can report that the proposed de-
convenient shopping destination for people on        years, confirming the viability and need for the   velopment is strongly supported by the national
their way to work or home.                           re-development and extension of the existing       retail groups.
                                                     Parkdene Checkers Hyper-centre.
The existing centre that is anchored by Checkers                                                        Several Demographic Studies were done since
Hyper will be expanded to a 35,000m2 shopping        Major residential development has been mooted      2012 by Fernridge, Urban Studies and Doug Park-
centre in order to offer consumers a one stop        for the immediate surrounding area that is also    er. The Fernridge and and Urban Studies reports
shopping destination that will include many na-      covered in the Demographic Studies, apart from     were positive and recommends a centre of be-
tional and franchise tenants across a wide range     the upmarket residential estates that have been    tween 27,000 m2 and 33,000 m2 on this site.
of product and service categories.                   developed over the past 8 years.

Quick Facts                             M A C RO LO CA L I T Y
Location: Rondebult Road, Boksburg
Approx. GLA: 35,000m2
Anchor: Checkers Hyper
Planned Opening Date: April 2020
No. of Households: 40,000
Primary Catchment Areas: Beyers
Park, Ravenswood, Boksburg North,
Boksburg Central, Boksburg South,
Parkdene, Cinderella, Parkrand, Sun-
ward Park,Van Dyk Park, Freeway
Park Elspark and Reiger Park
Parkdene Palms is in a great po-
sition to take advantage of the
vast amount of vehicular and pub-
lic transport traffic along Rondebult
Road. The redevelopment is focused
on provinding customers with a con-
venient, yet substantial offering by
providing grocery, fashion, home
and service tenants under roof as
well as restaurants, a medical centre
and a health & fitness club.

Distance to (fastest route):
1.   East Rand Mall: 6.6km
2.   East Rand Retail Park: 6.5km
3.   Sunward Park Centre: 5.6km
4.   Kingfisher Corner: 6.3km
5.   Sunward Park Lifestyle: 6.6km
6.   Mall @ Carnival: 11.5km

T
     he primary catchment area that
     consists of Beyers Park, Ra-
     venswood, Boksburg North, Boks-
burg Central, Boksburg South, Park-
                                          M I C RO LO CA L I T Y
dene, Cinderella, Parkrand, Sunward
Park Van Dyk Park, Freeway Park, El-
spark and Reiger Park is home to an
estimated 40,000 households that
spans from lower to middle and high
income consumers.

The primary catchment area consists
of mainly African households (71%) fol-
lowed by White (15%) and Coloured
(12%) households with the majority of
consumers between the ages of 20 to
40 years old.

Demographic Overview
Age Profile: 20 to 54 years

Race Profile: 70% Black, 15% White,
12% Coloured

LSM Profile: 5-9

Education: 39% Matric or higher

Avg. Monthly Household Income: R10,000

Language Profile: 51% African, 30% Af-
rikaans, 14% English

Employment Status: 52% Employed, 23%
Unemployed, 26% Not Economically Ac-
tive

Urbika Estate
Urbika Estate is new residential devel-
opment that is situated adjacent to
Parkdene Palms. The estate will add
approx. 2,200 residential units and a
Curro School that will open 2019.

The 15,000m2 centre was developed
by JCI for OK Bazaars Hyperama in the
early nineties with a triple-net lease in
place and Sanlam Properties was the
                                             MASTER DEVELOMENT PLAN
owner.

With the takeover of OK Bazaars by
Shoprite the Hyperama was converted
into a Checkers Hypermarket.

In 2008 the centre was sold to the cur-
rent owners, VLDC, that is headed by
Mark van Wyk. VLDC also acquired the
surrounding land with a view of estab-
lishing a regional shopping centre, to be
known as Parkdene Palms, to cater for
the needs of the catchment area and
the process was started to obtain the
required zoning to develop a further
25,000m2 of retail.

Shoprite is bullish and has already issued
a new Offer to Lease and will convert
the Supermarket to their latest A-grade
specifications. They have also undertak-
en to co-operate fully to facilitate the
re-development, which will be disruptive
to trading during the construction peri-
od.

The leasing layout shows the new layout
and proposed tenant mix of the centre
that will entail the relocation of House
& Home, with the proposed addition of
Woolworths and a gym as the additional
anchor tenants. Clicks will be a sub-an-
chor and a full complement of fashion
retailers will be introduced to take the
centre to a GLA of 35,000m2. A new
service station and taxi rank have been
incorporated in the plans to ensure that
the centre is more accessible to com-
muter-shoppers too.

PARKDENE PALMS
   SHOPPING CENTRE

       Theuns Lindeque
         Leasing Worx
     Phone: 082 738 1036
E-mail: theuns@leasingworx.co.za

        Tienie Lindeque
         Leasing Worx
     Phone: 083 522 0100
E-mail: tienie@leasingworx.co.za

    www.leasingworx.co.za