Other developments at the Victoria Wharf Mall include the construction of a Cross Mall using innovative design in which a steel structure has been hung from roof trusses instead of being conventionally supported by columns below. The floor, which is also hung from the steel frame, is constructed out of a steel corrugated roof sheet with a thin layer of concrete on top. It has been constructed above an existing open-air delivery yard that services the central part of Victoria Wharf, creates a link between two existing malls and adds double volume shop fronts. The 1300m2 retail space created will see the introduction of Witchery and Mimco by Woolworths and Tom Tailor and Lucky Brand for Edgars as shop-in-shops.
The GLA has increased by 7800m2 across the new Pick n Pay and the Cross Mall link.
Faced with growing demand for retail space and a long waiting list of local and international retailers, the Waterfront needed to accommodate the demand innovatively without increasing its actual footprint, all the while maintaining and limiting disruption to day-to-day trade. The solution was to densify within the current building envelope.
David Green, CEO of the V&A Waterfront said, "Our overall retail strategy has seen a great deal of attention given to refreshing the retail experience and maximising on the interest expressed by new local and international retailers looking for space in Victoria Wharf." He adds that this strategy is in place to ensure retail growth while enhancing the consumer experience. "Development work in this case was necessary to increase the gross lettable area (GLA) and improve visitor access and overall convenience."
Retail sales performance from July to September is up by 19.5% over the same period last year, and visitor numbers to Victoria Wharf grew by 15.2%.
The 2950m2 space vacated by Pick n Pay will be reconfigured for South African brand Mr Price and international success story, Australian brand Cotton On. Both are expected to open in the second quarter of 2014, bringing an element of mass appeal and affordability.
The results from a recent economic impact study indicated that the V&A Waterfront has contributed approximately R198 billion to the national economy over the last ten years and new developments, which include the Victoria Wharf extension, could contribute a cumulative R188 billion to nominal GDP by 2023.
"If the retail trade performance of 2013 is a yardstick, all indications are that this extensive development will bear fruit in the form of bumper festive season trade and continued growth into 2014," concluded Green.
