Canal Walk expands despite economy
At a time when most property developers are cutting back on retail projects, Cape-tonians will be encouraged to learn that the Canal Walk retail complex, with a head count of 21 million a year, is bringing on stream a 15 514m² extension worth R250m.
The fast track contract started in May 2008 and will be complete in July. The financiers of this extension are the co-owners, Hyprop Investment Limited and Ellerines Bros.
The main contractor is WBHO, and project manager and principal agent for the project, Betts Townsend (Pty) Ltd, is a long-serving associate of Hyprop and its affiliate management companies, Redefine, Apex-Hi and Madison, which have recently consolidated into one group.
The new extension consists of six standalone "pods" on the south side of Canal Walk and links up with its first floor parking deck, so will front directly onto the N1 freeway to the north. The design allows for an additional 50 000m² of lower and mezzanine parking levels to be linked to the existing parking decks.
"The location, orientation and height of the pods presented the designers with an interesting challenge," says Michael Taylor, director and partner of Betts Townsend.
"It has forced them to build across the southern entrances to Canal Walk, and the buildings here could have blanked out at least part of the view of the existing centre. However, the extensive use of full-length glazing on the southern and northern façades will make the pods transparent and in the process bring a modern avant-garde retail addition to a complex which has until now relied on semi-classical, traditional design, especially on its façades.
"The design allows retailers to adequately display their full range and make use of additional public exposure through impressive curtain wall architecture."
Taylor says the pods will be "destination" stores. Certain pods will have their own bistros, leaving the main centre to continue housing the bigger restaurants and coffee shops.
Retailers that have bought into the new concept and signed leases are Foschini @Home Living Space, Golfers' Club, Cape Union Mart, Bride and Co, Hi-Fi Corporation and Sports Direct.
A striking architectural feature of this project is the use of low-rated green tinted transparent full-length double glazing on the north and south façades (7 to 8.5 metres high). In line with Betts Townsend's policy of supporting SA manufacturers wherever possible, the sophisticated 25mm thick double glazing (including an 8mm cavity) is locally manufactured.
The north and south "book ends" of each pod are concrete and plastered brickwork structures and for those the designers have selected a colour palette of cream and beige which complements that of the existing centre.
The first opening, of Foschini @Home Living Space, will take place on Monday, May 18, and further openings will be staggered until the final opening in July. Taylor says Hyprop and Ellerines Bros foresee the new centre adding significantly to Canal Walk's turnover by the end of 2009.
"It is, of course, difficult to predict when consumer confidence will return and when the retail sector will witness a significant upturn, but the larger retail landlords take a long-term view and tend to push ahead through thick and thin. Betts Townsend's view (and that of its clients) remains optimistic. Every previous downturn has been followed by an upswing that reached new levels,"
Saturday Argus
Posted at 09:55AM May 18, 2009 by Editor in Commercial |