JSE-listed commercial property company Growthpoint Properties has completed Phase 1 of the R75-million redevelopment of the Walmer Park Shopping Centre, in Gqeberha, in the Eastern Cape, with the overall project remaining on track for completion in November.

Growthpoint’s reinvestment in the high-performing South African retail asset aims to position Walmer Park as a top retail destination in Gqeberha.

“Walmer Park has consistently demonstrated the trading resilience and tenant demand that justify ongoing reinvestment. The additions to the centre’s retail mix made possible by this redevelopment will help ensure that it remains the dominant retail address in the city for years to come,” says Growthpoint Properties retail asset management head Gavin Jones.

Construction began in March with the relocation of fashion anchor tenant Edgars. The reconfigured store, more than 2 000 m², opened in July.

The project also created a new mall area within the shopping centre, which provides an opportunity for brands to enter an otherwise fully let centre.

With excellent demand for the retail space made available by the redevelopment, the entire project, except for 100 m², is already let and finalised, Growthpoint says.

“Delivering the first phase of the new mall area is a strong result, particularly while the surrounding shopping centre has continued trading throughout construction. We are delivering Phase 2 to the same standard,” says Growthpoint Properties retail development head Mark Langley.

Phase 2 of the redevelopment began in mid-July and focuses on creating an internal connection between Walmer Park’s growing Cape Union Mart and the new fashion retailer Edgars location, thereby completing the new internal mall area.

The redevelopment, which is the eighth upgrade in the centre’s 38-year history, also incorporates energy-efficient lighting, a rooftop solar installation and the continued supply of filtered borehole water to customers and tenants, the company says.

The Walmer Park project is the sixth major strategic retail redevelopment Growthpoint has undertaken recently, it says.

The projects include the R270-million upgrade and expansion of Paarl Mall, installing a further 5 MW of solar power at four malls, and redeveloping internal space at Greenacres Shopping Centre, in Gqeberha, and Vaal Mall, in Gauteng.

Other projects include enhancements to the Longbeach Mall, in Cape Town, and to the La Lucia Mall, in KwaZulu-Natal.

These investments are part of Growthpoint’s broader retail portfolio strategy of prioritising capital allocation to dominant centres with strong trading metrics and proven reinvestment potential, with a particular focus on key coastal metros.