Monday, 20 November 2017 09:35

Growthpoint Properties’s R85m revamp of M1 Place gives it an exciting new lease on lifestyle

Written by
Rate this item
(0 votes)

Growthpoint Properties’ R85m revamp of M1 Place in Marlboro, Sandton, has converted an ageing retail warehousing property nearing the end of its lifecycle, into a modern, vibrant retail park.

M1_Place_exterior_view

The fully-let property is perhaps best known as the location of United Furniture Outlets and United Fashion Outlets because of the excellent visibility these brands enjoy from the M1 Highway. M1 Place is superbly located minutes from Sandton Central, with outstanding highway frontage and excellent access from Eastern Service Road.

The one-year upgrade and expansion project has modernised the retail park and increased its size from 13,800sqm to 23,000sqm. The revamp has also enabled each of its trio of original tenants to expand into bigger spaces, as well as adding three new names to its 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 However, it had become outdated in recent years.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.”

UFO Furniture now offers customers 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. In addition, 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.

M1 place has been reimagined as vibrant retail destination focused on décor and fashion, and it is 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. The building of 2,000sqm features a multifaceted, dedicated event space for conferences, an avant-garde business centre with conference suites and dedicated meeting rooms. A highlight is its multiuse rooftop venue overlooking the iconic Sandton Central skyline. The Galleria comes fully equipped with cutting-edge production facilities and a full range of technical, décor and catering services.

The upgrade of M1 Place was no simple project, with a specific challenge being delivering the refurbishment while its established retailers were still operating.

“This meant the project needed to achieve minimal disruption from construction activity and a phased development approach was key to this,” explains Leon Labuschagne of Growthpoint’s Industrial Division.

Internally, the building was completely gutted and renewed, with everything refinished to modern specifications from lighting to tiles.

Externally, the building’s glass façade was fully upgraded and modernised, as was the brickwork on the façade of the property. This ensured the existing main property matched the façade of the new building created for The Galleria.

Also, the M1 Place’s resource efficiency was boosted by installing energy-efficient lighting and some lower-energy air-conditioners.

Growthpoint provides space to thrive with innovative and sustainable property solutions. It is the largest South African primary REIT listed on the JSE, and owns and manages a diversified portfolio of 547 property assets, locally and internationally.

Growthpoint is a Platinum Founding Member of Green Building Council South Africa (GBCSA), a member of the GBCSA’s Green Building Leader Network, a component of the FTSE4Good Emerging Index and has been included in the FTSE/JSE Responsible Investment Index for eight years running. 

Last modified on Tuesday, 21 November 2017 09:46

Most Popular

Introducing Tibani Shopping Centre

Nov 19, 2017
Tibani
After the very successful opening of Steilloop Shopping centre in November 2016 GMI…

Continued demand for Balwin apartments support top line growth

Nov 20, 2017
Stephen Brookes Balwin Properties
Balwin, South Africa’s largest homebuilder focusing on large scale sectional-title…

New Deloitte Africa HQ commences development at Waterfall City

Nov 23, 2017
Deloitte4_Exterior
Deloitte Africa, Atterbury Property and Attacq Limited jointly celebrated the start of…

SA REITs make up a dazzling dozen of South Africa’s top listed companies

Nov 20, 2017
Izak Petersen1
South African REITs (real estate investment trusts) once again ranked high among the…

Vukile Property Fund reports on-target 7.4% increase in half-year dividend growth and further Spanish expansion

Nov 27, 2017
LRapp CEO Vukile
Vukile Property Fund today reported 7.4% growth in dividends per share for its half-year…