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PROPERTY development group Spearhead plans to open Sable Square shopping mall in September 2006. The site is 15 000m2 and is situated near Century City, Cape Town.
Sable Square will become the first African outlet retail village, offering brand retailers an opportunity to sell excess stock (at a minimum of 30 percent off regular retail prices). The stores would display the previous season's stock, or surplus stock that high street stores were not able to move, and attract shoppers by offering a discount of at least 30% on merchandise.
There are more than 500 similar-type outlets worldwide - guaranteed discounts sell. The catch is that the products will no longer be available at mainstream malls and
will not be the latest range.
According to Mike Flax (CEO of Spearhead) “Consumers and brand manufacturers are in danger of being ripped off by vendors at flea markets and factory stores. Outlet retailing is designed to protect brands through strict guidelines designed to ensure brand authenticity. Sable Square, for example, will be the first centre in South Africa to build a zero tolerance clause into its leases. In line with this, centre management will have the right to immediately eject any fakes or rip-offs from stores in the village."
Tenants who have committed |
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Adidas |
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Bondi Blue |
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Jeans |
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Pick 'n Pay |
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Polo Sport |
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Rage shoes |
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Tommy Hilfiger |
Spearhead. The open-air centre is designed by architects Bentel.
R250 million
70% of the 15 000m2 available for letting in Phase One has now (June 2006) been taken up.
It will also have restaurants & cinemas.
13 August 2006 |
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20 July 2006 |
We welcome input to help us improve our coverage of Sable Square, Century City