Pareto Limited
Sandton City Shopping Centre
Contact Details:
Tel: +27 11 217 6000
Fax: +27 11 883 0978
Physical address:
Cnr Alice Lane & Sandton Drive, Rivonia Road & Fifth Street, CBD, Sandton,m South Africa
Postal address:
PO Box 78100, Sandton, 2146, South Africa
Web: www.sandton-city.co.za
Sandton City Shopping Centre is the jewel of the Pareto investment portfolio. Pareto has a 25% share (Liberty Life holds the remaining 75%)
In Brief:
Opened: October 1973
Current GLA: Approximate 163 200 m²
Stores: Approximate 294
Average spend per person: R106.92 (2007)
Total centre turnover: R1.30 billion (2007)
The consortium which includes the shopping centre, its two office towers, the Sandton Sun hotel, the Sandton Intercontinental hotel, the Sandton Garden Court hotel, Sandton Game and the Sandton Convention Centre.
It comes as no surprise that the complex attracts approximately 28 million visitors per annum.
Since its first phase reached completion in 1973, the centre has undergone dramatic expansion and transformation. With a total GLA of 163 200 m², it now covers 116 300m² of retail and 46 900m² of office space.
Its prime location in Sandton, Gauteng’s new CBD, has contributed to its popularity among local and foreign visitors, and the high number of retail centres in the surrounding suburbs has done nothing to diminish its popularity.
Sandton City anchor tenants include Edgars, Stuttafords, Checkers, Woolworths, Truworths and Foschini while International tenants include Louis Vuitton, Mango, Morgan, Dunhill, Mont Blanc, Cartier, Guess and the newly opened Nike.
Expansions & Refurbishments
Sandton City Shopping Centre is currently undergoing a repositioning at an estimated cost of R1.7 billion which includes refurbishment of the existing centre to be in line with international development trends as well as expansion through the addition of a further 30 000m² of retail space.
It is envisaged that the repositioning will provide state-of-the-art facilities in a tastefully and stylishly refurbished mall, realign some tenants while providing additional space for some of the anchor tenants.
It is also expected that there will be additions to the already strong presence of vibrant international fashion retailers. With the opening of a new NIKE store, the third of its kind in the world after New York and London, the centre is destined for a plenty more success.