Accelerate Property Fund aims to be a dominant player in Gauteng’s growing Fourways node as it works to be an attractive medium-sized property stock. It has made strong progress in redeveloping its largest asset, the R2.3bn Fourways Mall which is set to nearly double in size from 90,000m² to 170,000m², when its expansion project is completed in the middle of 2018. The centre, which was built 23 years ago, needed to be expanded so that it could hold stores that had larger offerings for customers than currently, according to chief operating officer Andrew Costa. "Fourways as a node grew more quickly than many developers predicted. We found that a number of the retailers within the mall have needed more space in order to carry larger offerings for customers. The catchment has also grown and we believe that Fourways is a very exciting node, which is why we intend to redevelop the mall and then to develop residential and office properties within the node," he said. Accelerate reported on...
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