Lusaka, Zambia

Cosmopolitan Mall is a dominant retail mall in Lusaka, anchored by strong multi-national anchor tenants including Game (13% of rentals) and Shoprite (10% 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.

Property Details

Sector Icon - Retail

Cosmopolitan Mall

Retail Sector 
50% Ownership
Location:Lusaka, Zambia
Anchor Tenant:Shoprite, Edgars & Game
Acquisition Price:US$24.2 million
Valuation1 (as at Dec 2019):US$75.9 million
Acquisition Date:Friday, 30 September 2016
WALE – GLA:1.47
WALE – Income:1.46
Land Title:Leasehold
GLA1:25 799 m²
EPRA Vacancy:2.6%
Parking Bays:1 183
EPRA NIY:6.5%

Value presented proportional to ownership interest held, 100% GLA reported

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