Cosmopolitan Mall (50% share)

Cosmopolitan Mall is a dominant retail mall in Lusaka, anchored by strong multi-national anchor tenants including Game (13% of rentals), Shoprite (10% of rentals) and The Foschini Group (6% of rentals). Other major tenants include Pep, Jet, OK Furniture, Woolworths, Ackermans, Truworths, Max Clothing, Carnival Furnishers, Edgars and Mr Price.

The mall was developed by the Heriot Group in Zambia who remains a partner and property manager. This early stage mall opened in 2015 with a 100% occupancy rate.

Cosmopolitan Mall’s strategic location in Makeni incorporates public transport access, including a mini-bus taxi rank to capitalise on severe congestion and long travel times associated with Lusaka traffic. Research has shown that the area has very high trading demographics due to lack of easily accessible retail offerings and demand from surrounding high density areas.

Location

Lusaka, Zambia

Anchor Tenant

Shoprite, Game

Sector

Retail

Land Title

Leasehold

GLA

26 512 m²

Parking Bays

1 300

Vacancy

1.3%

Valuation (as at June 2017)

US$74.9 million (100% of the asset)

Transfer Date

End June 2017

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