Residents living in the greater Milnerton area are confused and angry with PIC Real Estate Asset Managers (PIC REAM) after construction at the Centre Point Shopping
Why has construction on MIlnerton’s Centre Point Mall not started yet?
Centre came to a halt.
Lack of communication regarding the delay has driven people to find solace in rumours.
“The company that is building the centre went bang,” exclaims one reader.
Another says all the staff at PIC REAM who worked on the centre have been replaced, and it is taking their replacements longer than anticipated to pick up where the others left off.
The truth behind the delay is a mystery to the community, architects, engineers, leasing agent and unfortunately TygerBurger as well.
On 3 April TygerBurger emailed urgent questions to the communication department of Public Investment Corporation (PIC).
On Monday, 12 days after the first email, PIC’s communication manager, Sekgoela Sekgoela responded: “I am prepared to say we will be continuing with the construction and we will communicate this position soon. Regarding the timelines for completion – can we chat next week as I know there will be concrete dates?”
Questions such as “What ‘in-house’ issues are there to be resolved, why has there been so many complications in building this shopping centre, and what message can you give future tenants” have been ignored completely, despite eight follow-up emails.
André Bauermeister from Newton Commercial Properties was a little more forthcoming.
“The completion date was extended to the end of 2015, but after this recent delay this date will be postponed,” he explains.
On numerous occasions TygerBurger has reported about new challenges facing PIC REAM. The R260 million shopping centre was originally scheduled for completion in October 2013.
In November 2012, TygerBurger reported that construction was postponed because the required number of tenants had not signed the lease agreement.
The completion date was moved from October 2013 to 30 March 2014 and then to December 2015.
Years of planning and budgetting has resulted in a big hole in the ground.
“Future tenants must please be patient,” says Bauermeister, before adding that construction will start soon.
For the public, these promises sound familiar.
In November 2012 PIC’s general properties manager, Lesiba Maloba, said: “We anticipate completing lease agreements with key tenants promptly and beginning the demolition and rebuilding soon.”
Zane de Decker, asset manager of PIC, said at the time that potential tenants are very positive about the redevelopment of the Centre Point Shopping Centre and see the transformation as extremely promising for both their businesses and the surrounding areas.
One postponement after the next, without proper communication as to what is really going on, just fuels the rumour-mill.
Two people working for PIC stated off the record that there are serious in-house issues.
One person said: “I cannot tell you what is going on, but I’m sure you know already.”
In November 2012, 60% of the retail space had been assigned to shops and businesses, which included Pick’n’Pay, Clicks, MTN, Crazy Store, Nedbank and Absa.
Whether this figure will be affected by the plethora of postponements remains to be seen.
Source: www.tygerburger.co.za Author: Andre Bakkes (@andrebakkes)
De La Porte Property Group 