Keetmans retail grows

Last year, Old Mutual launched plans to construct a new mixed-use development to key stakeholders from a spectrum of society, in the southern town of Keetmanshoop. The construction of this N$92 million centre is progressing rapidly with the official opening slated for 01 November, in time to catch the lucrative holiday and Christmas season.

The development consists of over 11,000 m2 of space, of which 10,000 m2 is gross lettable space. As of 01 June,  7760 m2 occupancy has been secured whilst negotiations are at an advanced stage with other potential tenants to take up the remaining lettable space.
This development comprises 95% retail space and 5% office space, which will provide significant traffic within the Centre. Old Mutual will be the first tenant to take up office space upon completion of the complex. The diversified centre will also serve the community with a host of confirmed tenants including, Shoprite, Jet, Edgars Active, Legit, PEP Stores, Mr Price, Clicks, Hektas Fashion and Beaver Canoe. “We are also at advanced stages with Spur, Shoprite Liquor, Telecom and various other individual retailers, with only 900 m2 of space still unallocated” said Old Mutual this week, updating the market on its progress.
“In terms of the building, the main structures, including the roof are now 80% complete. All procurement for ancillary services has now been completed, manufacturing is underway and the timeline with subcontractors ensures that we have no wasted time on site.”
The Shopping Centre was designed, and is being constructed to be scalable in future, based on anticipated economic growth in the south and demand for more retail and or office space.
Whilst the initial development will have 10,000 m2 of gross lettable space, Old Mutual has acquired a total of 58,000 m2 land providing sufficient scope for further expansion.