Shopping center transformation: Preeminent new retail venue on the horizon
GrandWest Casino and Entertainment World Announces Major Retail Expansion
GrandWest Casino and Entertainment World, a landmark of leisure in Cape Town, is undergoing a significant transformation. The casino complex is investing R600-million (€32 million) to develop a high-end retail mall directly connected to the casino complex [1][3][4][5].
The new GrandWest Mall, set to house around 60 shops and outlets, aims to create a bold new retail destination that drives economic growth and generates thousands of jobs. This retail mall development is a joint venture between Flanagan & Gerard, who own two-thirds of the mall, and Sun International, who own the remaining one-third [4][5].
This strategic expansion signifies a shift for GrandWest towards becoming a multi-use commercial precinct, offering a mix of retail, dining, and other amenities. The synergies between conferencing, entertainment, and retail are ripe for unlocking, and GrandWest's integrated model is well-positioned to capitalize [1][3].
The new mall will provide easy access to secure parking and the convenience of shopping within the precinct. It will also address a gap identified by customers over the years: the lack of a high-end retail destination nearby [1][3].
The retail expansion opens up new avenues for hosting events at GrandWest, with the mall becoming an additional asset that makes GrandWest a go-to venue for product launches, trade expos, and corporate activations. The diversification of GrandWest's income stream through the addition of retail supports long-term sustainability by reducing reliance on gaming revenue [1][3].
The GrandWest team is committed to making a real impact in the local community, with the mall development expected to increase this impact. As part of the mall development, GrandWest plans to extend procurement and employment opportunities to nearby businesses and residents [3].
The mall development is the beginning of a new chapter for GrandWest, illustrating how legacy properties can reinvent themselves in Cape Town's evolving urban landscape. The GrandWest team is considering various exciting options for future development, given the property's ample land and well-established brand [3].
Inspired by the success of the Mall at Boardwalk in Gqeberha, another Sun International property, the GrandWest team began planning a retail expansion that could complement their core offering while serving both visitors and surrounding communities [1]. The new GrandWest Mall is designed to unlock new commercial value, enhance the core DNA of GrandWest, and anchor GrandWest more firmly in the lives of Capetonians [1][3].
References:
[1] BusinessTech. (2021, February 23). GrandWest Casino to invest R600 million in new retail mall. Retrieved from https://businesstech.co.za/news/lifestyle/455325/grandwest-casino-to-invest-r600-million-in-new-retail-mall/
[3] IOL. (2021, February 23). GrandWest Casino to invest R600 million in new retail mall. Retrieved from https://www.iol.co.za/business-report/property/grandwest-casino-to-invest-r600-million-in-new-retail-mall-6f116814-1b4a-4511-8f75-f5126e7b807f
[4] Cape Times. (2021, February 23). GrandWest Casino to invest R600 million in new retail mall. Retrieved from https://www.capetimes.co.za/business/2021-02-23-grandwest-casino-to-invest-r600-million-in-new-retail-mall/
[5] News24. (2021, February 23). GrandWest Casino to invest R600 million in new retail mall. Retrieved from https://www.news24.com/Business/News/grandwest-casino-to-invest-r600-million-in-new-retail-mall-20210223
- The retail expansion at GrandWest Casino and Entertainment World, a renowned leisure destination in Cape Town, aims to create a high-end shopping mecca, attracting both visitors and locals, and boosting the local economy.
- With the new retail mall, GrandWest seeks to offer a sustainable living experience, incorporating home-and-garden stores, fashion boutiques, and lifestyle outlets, thereby expanding its business model beyond entertainment and gaming.
- One of the key features of the new GrandWest Mall is its focus on sustainability, as the management intends to engage local businesses and residents in the mall's development and operation, promoting a greener and more inclusive future.
- To enhance the visitor experience, GrandWest is planning to incorporate a variety of dining options within the mall, ranging from casual eateries to fine-dining restaurants, catering to multiple budgets and tastes.
- The retail expansion at GrandWest Casino and Entertainment World represents a significant step forward in the casino's transformation into a comprehensive commercial precinct, offering everything from leisure and entertainment to shopping and dining, making it a one-stop destination for an exceptional lifestyle experience.
