Furthermore, it's not just foot traffic that's shooting the lights out. Trading density for the entire L2D retail portfolio in portfolio exceeded what the group reported in September 2019 by 12.1%. Sandton City has achieved a trading density of more than R6 000 per square metre, which Beattie said has never been seen in a mall of its size in SA before.
"It's way above what we have seen in pre-Covid-19 levels, and it's just an indication of an extraordinary asset that continues to outperform all levels… At R6 000 per square metre, it's certainly the highest super regional and regional malls," she said.
And it keeps getting better for Sandton City as more international retailers are taking note of these rising numbers and want to be part of it. Beattie said L2D has been talking to a handful of those. Some don't yet have a presence in SA, and those already here want to expand. Examples include H&M Home, which opened a standalone store in Sandton City this year and the first NBA Store in Africa that opened in that mall this October.
"That really talks to the quality trading environment, their confidence in the customer we have here, and the spend they can attract in these stores. We look forward to some new tenants that we'll be opening in the next few weeks, and we look forward to a great festive season. Customers will be spoilt for choice," she added.In times of uncertainty you need journalism you can trust.
_Business So much for people not having money ‘ey! 🤔🥴
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