Join Date: Jan 2011
Location: Starkville, Mississippi, USA
Likes (Received): 9360
LESOTHO | Maseru | Maseru Mall & Racecourse Development | Mixed-Use | U/C
Maseru Mall has brought Maseru its very own cutting edge shopping destination and convenience with the 32 000 m2, top-quality Maseru Mall, superbly located at the heart of the Maseru’s affluent growth node.
When it opens in August 2012, Maseru Mall will be Lesotho’s first fully-integrated shopping mall with public transport facilities and other complementary commercial uses. For many in Lesotho, this represents the realisation of a long-held dream.
Maseru Mall is part of the broader Racecourse Mixed-Use Development and is being developed by Eris Property Group [Pty] Ltd in partnership with the CBS Family Trust, the Lesotho Public Officer’s Defined Contribution Pension Fund and Metropolitan Lesotho.
Lesotho lacks a proper centralised shopping centre forcing patrons to do a lot of their shopping in neighbouring South African towns, like Ladybrand and Bloemfontein; which is 150 km away.
Maseru Mall will create jobs, opportunities and sustainable businesses, and will add much needed injection to the local economy by attracting visitors and cross-border shoppers to this exciting shopping Landmark.
Maseru Mall forms part of a new comprehensive retail and commercial node including:
Offices 20 000 sqm
Motor Showrooms 8 000 sqm
Hotel 150 rooms
High density residential
Total Service Station 5 000 sqm
Phase 2 Retail 20 000sqm
The combined retail offering in the node amounts to 50 000 sqm, which is equivalent to that of a regional shopping mall. Phase 1 will be 32 000sqm and is scheduled for completion in August 2012. The mixed-use development follows the trend of first-world retail developments that has been growing rapidly in emerging markets.
This new wave of construction of shopping centres is becoming part of the new landscape in African Cities, alongside traditional markets. There is an increasing trend towards more formalised shopping centres with reputable Anchor Tenants and Nationals. Maseru Mall will be no exception.
The Race Course site lies:
Less than 3 km South of the Maseru CBD
5 km from the South African Border
12 km from the Lesotho International Airport
and is located at the gateway to the Maseru CBD, on the corner of Pope John Paul II and Pioneer Roads. It is Eris’s contention that that Maseru Mall’s location in the new commercial node situated on the historic site formerly known as the RaceCourse site; has been a major draw card for retailers.
The integration of the public transport facilities [taxi and bus ranks] into the precinct design was without doubt crucial as it has meant that Eris will be able to create an incredibly convenient and accessible shopping experience for all consumers.
Essentially two main arterial boulevards off Pope John Paul Rd provide ingress and egress into the greater development; and both lead into the bus and taxi rank, tenant parking and service area, as well as the mall parking area.
Anchored by a 2 800 sqm Shoprite Checkers _ the first in Lesotho of this size; a 4 500 sqm Game and a 1 500 sqm Woolworth’s; Maseru Mall will provide a quality, first-world shopping environment structured along the lines of leading shopping centres in South Africa, with some 80% tenants comprising National retailers, featuring some of South Africa’s favourite retail and food brands. A large number of retailers will be represented in Lesotho for the first time in Maseru Mall.
That the tenant mix is based on the needs of the market in this specific node, and accurately reflects the tenancy required for a centre of this nature. In addition to the 3 anchors, over 100 other retailers will be represented in the centre, 80% of which are national retailers. Tenancy currently sits at 65% pre-let with Truworth’s, Identity, Pepkor, Fashion World, Dunn’s, The Brazen Head, Roman’s Pizza, FNB, PostBank, OK Furnishers, Bears & Ellerines, Matrix Computers, Torga Optical, Studio 88, NWJ Jewellers and Liquor City forming the spine of tenancy.
The centre will also have a unique feature of two  drive-thru’s tenanted by KFC and Nando’s respectively, allowing for extended evening trade, a first for Maseru. Discussions are at an advanced stage with other leading Fashion Nationals, Banks and Home Stores to galvanise the already exciting tenant mix.
For many nationals, this will be the first time they are opening their doors in Maseru. The unique location, quality of product and the opportunity to reach the Maseru Market have been major draw cards for retailers. Others, including fashion retailers, dry cleaners, internet and cellular shops, and local retailers which serve the target market already have representation in Maseru.
There will also be unique stores representing Local Maseru traders in the mall accounting for 15% of the lettable area. Maseru Mall will thus be one of the first shopping centres that Maseru residents can call truly identify with and call their own, and will assist in ensuring that consumer spend remains within the local economy, bringing with it all the associated economic, social and employment benefits.
With its dynamic tenant mix that appeals to all LSM levels, the mall will compete head-to-head with centres such as Mimosa Mall, Loch Logan Waterfront, both in Bloemfontein; and the Maseru CBD. All these currently serve as shopping destinations for most Maseru and greater Lesotho residents.
Architecturally, the Mall largely follows modern contemporary SA Retail Centre design and incorporates indigenous Lesotho construction materials such as sandstone; resulting in a unique seamless blend of rustic African elements and modern construction materials.
The Mall will sit proudly against the background of the Europa Hill which enhances its visibility from the Maseru CBD and the South African Border.
Construction of the R 430 million Mall is scheduled for commencement in late May 2011, with the pre-qualification process of Bulk Earthworks Contractors having been completed. Key to the success of Maseru Mall has been the commitment of key investors; the Public Officers defined Contribution Pension Fund and Metropolitan Lesotho.
Maseru Mall will definitely act as a catalyst for proposed other developments in the node such as motor showrooms, offices, high density residential development, and a hotel.
"The world is full of basics who think they're 10s and 10s who think they're basics. Know who you are. Be proud of your strengths and aware of your weaknesses."
-musiccity, SSC Oracle