Growthpoint Properties’ R85m Lifestyle Revamp Of M1 Place
Growthpoint Properties invested R85million to revamp M1 Place in Marlboro, Sandton. This succeeded in converting the ageing retail warehousing property into a vibrantly modern retail park. This beautiful, fully let property is perhaps best known as the home of United Fashion Outlets and United Furniture Outlets, due to its excellent visibility this property offers these brands from the M1 Highway.
M1 Place is favourably located within minutes from Sandton Central. It offers fantastic frontage, with excellent access from the Eastern Service Board. The 12-month expansion and upgrade project has succeeded in modernising the retail park, increasing its size from 13,800sqm to 23,000sqm.
The revamp also succeeded in enabling each of its original tenants to expand into bigger spaces, while adding new names to the tenant mix. Engelbert Binedell, Industrial Division Director for Growthpoint Properties, explains: “M1 Place is a prominent and highly visible property asset, and it is home to great businesses. However, it had become outdated in recent years. We identified its refurbishment and expansion as a good investment to unlock better performance from the asset and extend its lifecycle. This strategic upgrade is already achieving its intended benefits.”
Vibrant Retail Destination In Sandton
UFO Furniture now also provides its consumers with more, with its space having nearly doubled from 7,800sqm to 15,000sqm, while UFO Fashion has also expanded, growing from 1,900sqm to 2,500sqm. Linen & Lifestyle also extended its offering from 1,400sqm to 1,700sqm. What’s more, new upscale lighting brand Huayi Lighting opened in 850sqm showroom store. The Loxion Factory Shop, which specialises in corporate and branded clothing as part of UFO Fashion opened in a 460sqm shop.
This is a beautiful and modern space that’s been reimagined as a vibrant retail destination, with a specific focus on fashion and décor. It is also home to Sandton’s newest event space. Located in the new extension of the retail park is The Galleria, an architectural masterpiece that sets the benchmark for conference, eventing and exhibition space design. It’s a welcome addition to the Sandton retail property sector, eliciting great excitement from tenants and consumers alike.
Image courtesy of : Projects Magazine