Fourways Mall Stages Major Comeback: Vacancies Drop, Retail Sales Soar

Fourways Mall, South Africa’s largest shopping mall, has made a remarkable turnaround over the past year, with vacancies dropping significantly and retail sales surging. After facing challenges that saw vacancies peak at 23% in December 2023, the mall has reduced its vacancy rate to 13% by the end of 2024, thanks to a strategic overhaul and new tenant acquisitions.

A Strategic Turnaround

The turnaround was spearheaded by Accelerate Property Fund (APF), the mall’s owner, which appointed a new management team between March and December 2024. The team, comprising Flanagan & Gerard as strategic asset managers and Moolman Group as property managers, implemented a comprehensive strategy to revitalize the mall.

Key initiatives included:

• Filling 15,000 square metres of vacant space with new tenants.
• Securing 44 new tenants, excluding relocations, extensions, and upgrades.
• Renewing leases for 111 stores, covering over 38,500 square metres since February 2024.

New Tenants and Enhanced Offerings

Fourways Mall has welcomed a host of new retailers, including:

• Baglios
• Carrol Boyes
• Curve Gear
• Echt Coffee
• Faro
• Le Creuset
• Levisons
• Lovisa
• Polo Sport
• Skechers
• Tasko Sweets
• Uniq
• Xpresso
• Yokico

Additionally, a 4,500 square metre double-storied Value Co store has opened, further diversifying the mall’s offerings.

Infrastructure Upgrades

The management team has also invested in infrastructure improvements to enhance the shopping experience. These include:

• A new VIP parking area.
• Directional signage to improve navigation.
• Upgraded lighting in the parkade and common areas.

Surging Retail Sales

The mall’s efforts have paid off, with a 9.5% year-on-year increase in total spend in December 2024. Key retail categories have shown impressive growth:

• Fashion sales grew by 17%, driven by new tenant additions.
• The grocery segment saw a 24% increase, with Checkers recording a 31% surge in sales.

Foot traffic has also risen significantly, with 1.5 million visitors in December, up from 1.1 million in November and October.

Exciting Additions for 2025

Fourways Mall’s management team is optimistic about the future, with several new attractions and tenants set to open in 2025:

• Tactical HQ: A large indoor shooting range that has already opened.
• Match Padel Courts: Expected to open in March 2025.
• A New Spur Family Restaurant: Slated for May 2025.
• Planet Fitness Gym: Set to open mid-2025.

These additions are expected to further boost foot traffic and retail sales, solidifying Fourways Mall’s position as a premier shopping destination.

Fourways Mall’s dramatic turnaround is a testament to the power of strategic management and targeted investments. By filling vacancies, enhancing infrastructure, and attracting high-profile tenants, the mall has not only improved its financial performance but also reinvigorated consumer confidence. As new attractions and retailers continue to join, Fourways Mall is poised for even greater success in 2025 and beyond.

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