The transformation from plaza to mall is complete as Theku Mall serves an upgraded retail space to the community of Osisweni in Newcastle, KwaZulu-Natal. 

The original 14 807m² plaza was opened in 2013 to provide convenient retail to the surrounding communities. Anchored by Shoprite, it was a single-level strip mall with limited fashion and health offerings included in the tenant mix.  

Rising demand 

When severely damaged in the July 2021 riots, the plaza was completely rebuilt to its original size. However, the retail demand continued to surge and a decision was taken to enclose the centre. This included bringing in an additional grocery anchor of 4 200m² and increasing the total gross leasable area (GLA) to 22 591m².  

By enclosing the centre and bringing in an additional grocery anchor of 4 200m², the total GLA increased to 22 591m².

Theku Mall boasts an impressive grocery component of 8 850m², approximately 39% of the overall development. SuperSpar was added as the additional anchor to Shoprite and Roots.  

The updated tenant mix presents the first real fashion line-up in the area, with over 90% of the tenants comprising national brands, including the Mr Price Group, TFG, Studio 88 and Pepkor Holdings, with Truworths and Identity set to trade from early 2025.  

A mall for all 

“This redevelopment is a symbol of the growth and upliftment of not only the plaza but the communities it serves. Investment in these builds is investment in the local micro-economies,” says the chief executive officer (CEO) of Exemplar, Jason McCormick.  

Exemplar owns 82,5% of the centre and managed its full redevelopment, including the leasing, utilities and operational asset management. 

Sustainable retail 

In line with Exemplar’s strategic priority of sustainability and efficient utilities management, the mall is equipped with a significant amount of grid-tied solar photovoltaic (PV) embedded generation. An “offset” agreement with Eskom also allows for excess solar power to be fed back into the Eskom grid.  

This excess energy, supplied to the Eskom network, will help reduce the strain on the local electricity distribution network in the area, and can also be reused at a later stage, when the centre’s energy demand exceeds its solar production. 

The revamp has replaced the limited fashion and health offerings with an updated tenant mix.

“The plaza was a community shopping centre built to provide retail essentials and a space for the community to connect. Theku Mall adds to this, creating a vibrant space where community members can shop, support local businesses and foster a sense of belonging,” says McCormick. “Beyond providing an improved place to shop, we are nurturing the heart of the community.” 

Converting a community shopping plaza into a shopping mall has brought a richer mix of retail outlets for the community, answering the demand for better shopping facilities in a sustainable way. 

For more information, contact Exemplar REITail: 

Tel: +27 12 6603020 

Email: info@exemplarreit.co.za 

Website: https://www.exemplarreit.co.za/