The transformation of Plaza to Mall is complete and Theku Mall is serving upgraded retail to the community of Osisweni in Newcastle, KwaZulu-Natal.
The original 14 807sqm Plaza was opened in 2013 to provide convenient retail to the surrounding communities. Anchored by Shoprite, the Plaza was a single level strip mall with limited fashion and health offerings included in the tenant mix. Severely damaged in the July 2021 riots, the Plaza was completely rebuilt and fully trading again by December of that same year.
Rebuilt to its original size, retail demand continued to surge and a decision was taken to enclose the centre, bring in an additional grocery anchor of 4 200sqm, and increase the total GLA to 22 591sqm.
Theku Mall boasts an impressive grocery component of 8 850sqm, approximately 39% of the overall development, with SuperSpar being added as the additional anchor to Shoprite and Roots. The updated tenant mix presents the first real fashion lineup in the area, with over 90% of the tenants comprising national brands, including the Mr Price Group, TFG, Studio 88, and Pepkor Holdings with Truworths and Identity set to trade from early 2025.
Work on site began in early 2024 and the Mall was fully reopened on 31 October.
“This redevelopment is a symbol of the growth and upliftment of not only the Plaza but the communities it serves – investment in these builds is investment in the local micro-economies”, says CEO of Exemplar, Jason McCormick. “We have always followed a phased approach to retail development, right-sizing our centres according to market demand and then developing additional GLA as the centre reaches its saturation point.”
Originally developed by rural and township retail specialists, McCormick Property Development, the Plaza was included in the Exemplar portfolio when it listed in June 2018. Owners, developers and asset managers, Exemplar, own 82.5% of the centre and managed its full redevelopment including the leasing, utilities and operational asset management.
In line with Exemplar’s strategic priority of sustainability and efficient utilities management, the mall is equipped with a significant amount of grid-tied Solar PV embedded generation. An “Offset” agreement with Eskom also allows for excess solar power to be fed back into the Eskom grid. This excess energy, supplied to the Eskom network, will help reduce the strain on the local electricity distribution network in the area and can also be reused at a later stage, when the centre’s energy demand exceeds its solar production.
”The Plaza was a community shopping centre built to provide retail essentials and a space for community to connect. Theku Mall adds to this, creating a vibrant space where community members can shop, support local businesses and foster a sense of belonging,” says Jason. “Beyond providing an improved place to shop, we are nurturing the heart of the community.”
