Active data-driven asset management helps co-owners align the mall’s new tenant mix with what its customers want
Defying retail norms, East Rand Mall has thrived for over three decades without a grocery anchor. In a bold move to stay ahead, today it welcomed Checkers FreshX.
East Rand Mall’s first-ever dedicated grocery anchor, Checkers FreshX, opened its doors in a state-of-the-art store that spans an impressive 3,539sqm, with an additional 216sqm dedicated to Checkers Liquor, opening in late October 2024.
This significant milestone reflects the ongoing commitment of co-owners Redefine Properties (JSE: RDF) and Vukile Property Fund (JSE: VKE) to meeting the evolving needs of East Rand Mall’s loyal customer base. Since taking ownership of this regional shopping centre in 2013, employing state-of-the-art active asset management techniques, its co-owners have invested in a major upgrade and a series of improvements, from modernising its aesthetic to improving public transport integration and introducing environmentally friendly solar power, all ensuring the 69,000sqm mall consistently remains at the forefront of serving customers and the ever-changing retail landscape.
The opening of Checkers on a long lease is one element of East Rand Mall’s latest enhancement project that kicked off in June 2023, with the Checkers store build-out starting in February 2024. This project is based on data-driven decision-making and investment. This entails using data to understand the needs of consumers. These valuable insights are used to shape a strategy and then to invest capital in redeveloping, relocating and resizing stores to optimise the tenant mix, gearing the asset for future growth.
In this case, for East Rand Mall, the value-add project involved downsizing Edgars and relocating Mr Price to the mall’s Fashion Court – a strategically strong location for this brand – as well as other tenant mix refinements. The project culminated in the placement of Checkers where Mr Price was previously located, creating a powerful anchor for this side of the mall.
"With a new anchor and the right retail mix for its shoppers, East Rand Mall is geared for the future. We're over the moon to have Checkers FreshX join the East Rand Mall family," says Itumeleng Mothibeli, MD SA at Vukile. "This exciting addition is a major win for customers who've been asking for a premium grocery option. East Rand Mall now proudly offers an all-around shopping experience.”
"We are thrilled to introduce Checkers FreshX as East Rand Mall's first grocery anchor," says Nashil Chotoki, National Asset Manager for Retail at Redefine Properties. "This store not only enhances the shopping experience for our customers but also represents our commitment to continually evolving and investing in the future of East Rand Mall as a vibrant retail destination."
The new Checkers FreshX store at East Rand Mall combines premium fresh food and convenience with a world-class selection of the freshest produce, free-range and top-quality options from its Meat Market, a full bakery, buzzing coffee bar, and convenient Money Market counter. The store also offers fresh flowers for every occasion and an extensive selection of wines from around the world in the wine cellar.
…/ends
