Keywest, Krugersdorp
A R55m extension and redevelopment has been completed, comprising the introduction of a 4,600sqm Game store and a 1,270sqm Mr Price Sports to the retail offering. Standard and ABSA Banks were expanded, and minor upgrades to two of the centre entrances were included in the scope of works. The dam adjacent to the food and entertainment wing was reduced in size, and the reclaimed area has been landscaped, with pedestrian walkways, an open air entertainment area and children’s play space completing this external upgrade. This has resulted in a more functional interface between the cinemas and restaurants, and better integration of the entertainment element at the mall. The capital expenditure incurred has provided an estimated return on investment of 9% in the first year.
ADDRESS cnr Paardekraal & Viljoen St, Krugersdorp
DESCRIPTION Stands 1 & 2 Keywest Township
PROPERTY TYPE Retail
INDEPENDENT VALUATION R661,400,000 on 31 March 2010
CARRYING VALUE R661,400,000
MAIN TENANTS Pick n Pay, Woolworths, Edgars, Foschini, Truworths, Ster Kinekor, Virgin Active, Mr Price
GROSS LETTABLE AREA 53,490m²
CURRENT VACANCY 2.50%
LEASE EXPIRY Year ending March 2008 - 1.0%
Year ending March 2009 - 8.1%
Year ending March 2010 - 12.3%
Year ending March 2011 - 38.9%
Year ending March 2012+ - 39.1%
RENTAL AVERAGE R88.71
ESCALATION AVERAGE 0.00%

ACUCAP PROPERTIES LIMITED
REG NO.
JSE CODE
ISIN
2001/021725/06
ACP
ZAE 000037651
TEL.
FAX.
EMAIL.
+27 (0)21 702 2745
+27 (0)21 702 2738
INFO@ACUCAP.CO.ZA
REGISTERED OFFICE
 
 
SUITE A11, WESTLAKE SQUARE
WESTLAKE DRIVE, WESTLAKE, CAPE TOWN
PO BOX 31079, TOKAI, 7966