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Thursday, March 28, 2024

West Hills Mall to revamp tenant mix

Accra, Aug 21, GNA – The Management of West
Hills Mall says negotiations are underway for a new and exciting replacement of
tenants who are expected to open in time for the Christmas festivities.

In a statement, the Centre Management denied
the mall risked collapse because certain tenants are scheduled to close their
shops.

“Management emphatically rejects this claim
as an unfortunate misrepresentation of the facts,” it said.

“It would like to assure its tenants and
customers that plans are far advanced in negotiations with new and exciting
replacement of tenants who are expected to open in time for the Christmas
festivities.” 

The statement said the lease terms of five
of its tenants, namely; Foschini, American Swiss, Sportscene, Markham and
@Home, would expire in October, this year.

Collectively, the five stores belong to the
Foschini Group, a South Africa based retailer.

The Foschini Group is reviewing its business
strategy across Africa and has made a decision to pull out of Ghana and not
just West Hills Mall.

The Foschini Group will, therefore, not be
renewing its lease agreements upon their expiry.

The statement said quite a number of South
African fashion retailers are under pressure in their local trading
environments and had begun consolidating their business operations.

“It is not surprising that most of these are
looking to exit various marginal markets outside South Africa.”

“For West Hills Mall, this development,
unfortunate as it may be, has offered an opportunity to introduce a new and
exciting mix of local and international tenants to serve our customers.”

It said Management would continue to review
strategies on an ongoing basis to replace vacancies that emerged in the course
of business, with brands which resonated with Ghanaians and met demands of the
local market.

The nature of the retail business was such
that occasional vacancies were inevitable in the retail industry and whenever
such vacancies occurred, Management continuously reviewed strategies to replace
them accordingly, the statement said.

It said West Hills Mall was celebrating its
fifth milestone in Ghana’s retail market and a series of exciting activities
had been planned for the pleasure of customers, tenants and patrons.

GNA

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