The fall and ongoing resurrection of Fourways Mall

Fourways Mall opened its doors in 1994 and it met a significant need in the community. After a major expansion in 2019, the metaphorical cracks began to show themselves. Plagued by poor signage, dark parking areas and rising vacancies, the mall was soon in need of a lifeline. Other challenges included the proximity of other well-loved shopping centres like The Mall of Africa and significantly negative sentiments being shared on social media. The saving grace came along when Flanagan & Gerard, along with the Moolman Group, took Fourways Mall into their portfolios. 3Cube Property Solutions makes a case study of Fourways Mall, looking at the facts, circumstances and lessons that can be learnt.

A column penned by Ash Müller for the Mail and Guardian reveals that in February 2024, new asset managers (Flanagan & Gerard Property Development and Investment in partnership with the Moolman Group) were tasked with transforming the mall from a ghost town it had become to a thriving centre that met the needs of today's shoppers. Bringing a wealth of experience to the project, they implemented numerous positive changes, which have begun to bear fruit.

A wide array of planned and implemented improvements

The list of planned and implemented improvements for Fourways Malls is vast and does a great job of meeting the needs of shoppers in the mid twenty twenties. Eight padel courts and a Planet Fitness gym will be added to the mall's offering, as well as a wellness hub and recovery centre. Over and above an enhanced tenant mix, the actual structure of the centre and its technology is getting a major upgrade. The previously dark parking areas are now illuminated with energy-efficient lighting and easy-to-follow signage has been implemented throughout the mall.

A dedicated parking and pick-up area has been created for e-hailing vehicles, which has led to staggering results. Prior to the transformation, about 16 000 visitors would enter the mall through this entrance, and Mail and Guardian reports that this number is now close to 67 000.

Challenges along the way

No business revitalisation project gets completed without its challenges. Accelerate Property Fund, a co-owner of Fourways Mall, has had to negotiate the sale of various other real estate assets to fund the battle for Fourways Mall. The assets sold off are largely located in Cape Town's Foreshore and were procured as part of a strategy to unlock the significant commercial and retail development potential in that area.

Lessons to be learned

The first and arguably most important lesson to be learnt from the case of Fourways Mall is that 21^st-century malls need to cater for 21^st-century needs. The mall now offers free Wi-Fi and shoppers can scan QR codes to find the shops they're looking for. The smart system implemented in Fourways Mall will guide shoppers to their destinations on their phones using live arrows.

Padel is one of the big sporting/lifestyle trends emerging this decade and offering this facility will go a long way towards creating a desirable destination. Discussions are also underway to secure shared office space as part of the Fourways Mall offering - thus tapping into the popularity of live/work/play precincts.

A further lesson to be learned is that safety and convenience need to be a focus. The parking area at Fourways Mall was historically disliked for various reasons and implementing lighting and e-hailing facilities has gone a long way to alleviating these negatives. Access to shopping malls must also be easy and stress-free. One of the projects the new team has undertaken is addressing the traffic lights around the mall to alleviate congestion and other access challenges. Six traffic lights in the region are now linked to the mall's backup power supply to ensure that any future loadshedding is not a deterrent.

Management of every shopping mall must ensure that its tenant mix is right, both for the area and the target market. While many brands have chosen to leave Fourways Mall, brands like Baglios Gelato, Uniq by The Shoprite Group of Companies (a clothing store selling premium basics) and Converse have recently chosen to make the mall one of their homes. A sign of the turnaround that management has achieved is that Spur will be returning to Fourways Mall.

Fourways Mall's journey to prosperity is far from over. Foot traffic is still low, there are still many vacancies and problems persist with parking systems and payment. However, thanks to a visionary approach, the tide has begun to turn and there are valuable lessons to be learnt about today's shoppers' needs.

3Cube Property Solutions has decades of experience in procuring, selling and leasing retail space for clients. For more information or advice on your next investment, get in touch and let's talk.