Growthpoint invests R75m in Walmer Park redevelopment

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10-03-2026
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The Herald
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The development will introduce a new internal link mall and expand the centre’s retail offering in Gqeberha.

Construction started in March and is expected to be completed in November, ahead of the festive trading period.

Gavin Jones Growthpoint Properties head of retail asset management, said the decision to prioritise the redevelopment reflected the strong performance of Growthpoint’s retail assets in the metro.

“Growthpoint owns both Walmer Park and Greenacres shopping centres in Gqeberha, and both assets have delivered continued foot traffic and trading density growth over the past five years,” Jones said.

“Vacancies stay low and despite the economic headwinds faced in the Eastern Cape, these assets continue to produce net income growth and show deep shopper loyalty and economic resilience.”

Walmer Park currently maintains vacancies of around 1.5%, indicating strong tenant demand and consistent shopper traffic.

The redevelopment will focus on improving circulation within the mall, optimising the retail mix and enhancing the overall shopping experience.

A central element of the project will see the reconfiguration of the existing 4,680m² Edgars store into a smaller, more efficient 1,982m² format.

The store will remain a key anchor tenant within the new link mall.

“Edgars continues to be a vital tenant playing an anchor role in the new mall link,” Jones said.

“They will trade off a reduced size, aligning this store with a more efficient and upgraded offering focused on a refined range with enhanced trading densities.”

The new link mall will accommodate nearly 10 additional stores, bringing the total number of retailers at Walmer Park to almost 170.

Some existing tenants will expand their stores, while others may relocate within the centre to better positions.

Jones said the redevelopment aims to support continued retail growth and ensure the centre remains relevant to shoppers.

“The measure of success is return on investment based on the capital expenditure and the rentals achieved.

“This is only sustainable through improved frequency of shop and higher spend-per-visit by existing and new customers,” he said.

“With a stronger retail mix and the addition of brands that shoppers have been asking for, we believe these aims are well within reach.”

The project will also introduce several new retailers, including South African brands entering the Eastern Cape market for the first time — Burnt and Old School.

Tenant selection is guided by a data-driven leasing strategy designed to strengthen the centre’s fashion and homeware offering.

Construction will be undertaken by WBHO, with small businesses from the surrounding community also participating in the redevelopment.

Sustainability is another focus of the project.

Walmer Park already operates rooftop solar panels, standby power generation and a borehole water system that supplies filtered water to tenants and shoppers.

“These systems enhance the centre’s operational resilience by ensuring a reliable supply of electricity and water for the mall, its tenants and its customers,” Jones said.

Growthpoint has committed to achieving carbon neutrality across its property portfolio by 2050, and the Walmer Park upgrade forms part of its broader environmental strategy.

Jones said that the redevelopment supports Growthpoint’s long-term vision for the centre.

“Our long-term vision is to ensure Walmer Park remains a vibrant, relevant and high-performing retail destination for its community while continuing to deliver sustainable value for Growthpoint’s portfolio.”