Umgeni Point
Investment Summary
| Sector(s): | Real Estate and Property |
| Investment Year: | 2019 |
| Status: | Current |
| Stage: | Buy-Out |
| HQ: | Durban, KZN |
| Contact(s): |
Jacques Russouw Shaun Stewart |
| Website: | N/A |
BSM Investments identified a significant opportunity to unlock value within the Umgeni Road retail corridor in Durban through the acquisition and strategic repositioning of Umgeni Point (formerly Price City). Recognising the location’s high traffic volume and strategic positioning, we invested in a comprehensive refurbishment of the 10,000 sqm GLA center to enhance its appeal and optimise its tenant mix.
Our investment strategy focused on attracting tenants that complement the center’s convenience offering and leverage the strong daily foot traffic generated by key tenants, including the regional head office of the Department of Home Affairs (approximately 1,500 daily visitors) and the established Trademor Cash and Carry (part of the Ohlanga Group). Other notable tenants are Waltloo Chicken and Meat, Icebolethu Funerals and various “moms and pops” tenants. The property is located in a busy new and used car node, further enhancing its overall appeal.
Our aim was to create a vibrant retail destination that caters to the diverse needs of the local community and capitalises on the influx of commuters and visitors, while simultaneously enhancing Umgeni Point’s position as a thriving commercial hub within Durban’s dynamic retail landscape.
