La Lucia mall: leases bring in R220 million

2008-02-27 00:00

The growth in retail space at Growthpoint Properties’ upmarket La Lucia Mall (pictured) has contributed to the company’s success in Durban. It leased 2 000 m2 for a new Mr Price Sport and the establishment of a 1 500 m2 Everfresh Markets shop at the mall.

The leasing team at Growthpoint Properties Ltd (Durban regional office) concluded commercial property leasing deals in excess of R220 million during 2007.

In the course of the year, the company’s leasing specialists negotiated 88 000 m2 of leases across the office, retail and industrial market sectors of KZN and the Eastern Cape.

Growthpoint’s Greg de Klerk said, ‘We’ve achieved significant performance in the office and industrial sectors too. We are confident that the demand for good quality office space will continue and this confidence is reflected in our decision to commence with the construction in March 2008 of Lincoln On The Lake, a new R100 million premium grade office building of 6 000 m2 situated in Parkside, Umhlanga Ridge New Town Centre.’

The development is due for completion in June 2009.

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