Mbombela has the potential to be a future economic hub for SA

·     Orion Real Estate is celebrating its 17 years of a successful investment in the well-known Promenade Centre, in the centre of Nelspruit (Mbombela).  

Orion Real Estate Ltd, which has successfully invested in a number of property developments across the country for decades, including Cape Town and Johannesburg, acquired the Promenade Centre in 2005 as a long-term investment with a vision to refurbish this busy commuter centre. The firm owns 100% of the property, which comprises the Promenade:

·         Hotel

·         Shopping Centre

·         Office Suites

·         Medical Suites.

Orion Real Estate, CEO, Franz Gmeiner said the firm had redeveloped and improved the Centre over the years and commenced with a major redevelopment and expansion in 2021. He said Nelspruit had been a high growth potential area since the late 80’s, and as the capital city of Mpumalanga, is increasingly recognized as a thriving and bustling place to live and invest.

“Nelspruit is a very exciting prospect for commercial real estate development. We’ve put in a lot of work and completed Phase 1 of the Promenade Centre’s redevelopment and opening of four new Foschini group brands namely, Totalsport, Markham, The FIX and American Swiss in 2021. The stores’ trading revenues have exceeded expectations over the past 12 months. The Centre continues to attract a lot of interest from prospective local and national tenants, and we plan to further develop the property,” Gmeiner said.            

The thriving, modernized Promenade Centre reflects area’s investment potential

He said Phase two of the development entails converting the Promenade Hotel into retail space due to the Centre’s increased demand, high footfall, and trading densities.                                         

“We are adding 5 000m2 retail trading space to the existing 18 000m2 of mixed retail and office space. The completed phase will boast 23 000m2 in total GLA (Gross Lettable Area),” Gmeiner said.

“Some office and medical suites are available, and these are being refurbished to attract new tenants. We currently have high demand for space due to our excellent trading densities,” he said.

Promenade Shopping Centre now has a diverse tenant base of more than 60 tenants. Among its tenants are: – Boxer Supermarket; Mr Price; Spitz Shoes; Total Sports; American Swiss; Markhams; The Fix; Exact; Old Mutual; Capitec; Rage Shoes; Miladys; Sheet Street; Relay Jeans; Dischem Local Choice Pharmacy, Studio 88, Sneakers, Van Schaik Bookstore, Chicken Xpress, Nyama & Chips and Beaver Canoe.