The first phase of Fortress REIT’s White River Crossing is nearing completion. A state-of-the-art retail and leisure centre near the Kruger National Park, the development is nearing completion and on course for its scheduled opening in August.
The first phase of the 10 300 square meter development is located at the intersection of the R40 which leads to Hazyview and the R537 to Sabie. It will house major retail tenants including Checkers, Dis-Chem, Woolworths Food, Pick n Pay Clothing, Mr Price Home and FNB. The centre will have a convenient C-shape layout with ample parking facilities and a restaurant section clustered around an open-air piazza.
Izak Kriel, an Asset Manager at Fortress comments: “We started our earthwork in the middle of last year and construction has really gained momentum which puts us on course for a successful opening towards the end of August … This centre is aimed at both local residents from all walks of life as well as the numerous tourists who visit the area as well as the nearby Kruger National Park.”
White River Crossing is 51% owned by Fortress with the remaining 49% stake owned by three leading local families. The construction of the centre was contracted to iKotwe Construction, a local company that was established in 1992. Fortress has capacity to add a further 5,000 square meters to 7,000 square meters of retail space in the second phase of the development should the demand for additional space materialize from a suitable anchor tenant.
“For the moment we are concentrating on the first phase but if we sign a sizeable anchor tenant that requires big box space we could move quickly to accommodate them,” says Kriel. “We’re already in discussions with possible tenants and if we get them signed on as anchor tenants then that would trigger us to start developing further.”
Source: Propertywheel.co.za | https://propertywheel.co.za/2019/04/first-phase-of-fortresss-white-river-crossing-nearing-completion/