Link to brochure: http://www.cmsignition.co.za/download/files_1045/Northridge_brochuren27.3.17n.pdf
Moolman Group has partnered with PHG Group, the current owners of the existing Northridge Mall.
Together we will spend R290 million on the complete redevelopment and expansion of this Centre. We will place a large Woolworths Food & Textile store (4 500m²) as an additional anchor tenant as well as add 6000m² of GLA and 600 parking bays during the redevelopment. It will also include a newly revamped PNP as well as a revamped Dischem and an array of new national shops and restaurants transforming this Centre into a first class shopping and dining experience for residents.
Earthworks for the additional parking bays has already commenced with completion of the redevelopment anticipated for October2018. Once completed, the planning of phase 2 will commence. This will include a further expansion of up to +-55 000m².
Northridge is strategically located along the R700/ Eeufees Road (which connects the northern suburbs and the city to the N1 freeway) on the northern fringe of Bloemfontein in an area with high income suburbs like Helicon Heights and Dan Pienaar. The land north of Northridge Mall is experiencing high growth activity aimed at the middle to higher income groups with a number of new estates under development as well as proposed new estates for development. Wild Olive and Lilyvale are just two examples of many. The brochure and market research further expands on the substantial residential and office growth in the area.
It is however clear that the northern suburbs of Bloemfontein has an undersupply of retail and this will become even more apparent as the growth in this node continues. We believe that the redevelopment and expansion of Northridge Mall as well as the future expansion opportunities that the Mall holds will more than sufficiently address this under supply and will continue to be able to meet the needs of the growing population.