Abertura da Pemba Shopping programada para dia 29 de Junho de 2017.
A Pemba Shopping é o primeiro empreendimento Moçambicano da Atterbury Property. É um centro de conveniência de 7900m² num local privilegiado em Wimbe, Pemba, Moçambique. O centro comercial será anchorado pela Shoprite (3 500m²).
A Pemba Shopping irá fornecer um destino de compras conveniente e altamente acessível para uma enorme área de captação. A combinação de lojas terá a capacidade para o mais amplo possível sector do mercado e responderá uma única necessidade retalhista na comunidade. O centro comercial de piso único oferecerá 585 espaços de estacionamento.
A construção iniciou em 2015 e a sua conclusão está prevista para Junho de 2017.
|Pemba Shopping ABL||7 900m2|
|Data de Conclusão do Pemba Shopping||29 de Junho de 2017|
|Escritório em Pemba ABL||6 000m2|
|Data de Conclusão dos Escritórios em Pemba||Fase futura|
Avenida da Marginal,
Wimbe, Pemba, Mozambique
Expanding Atterbury’s footprint in Mozambique, where the Pemba Retail Centre is taking shape, Atterbury Mauritius acquired a large industrial building from British American Tobacco in the capital city six months ago. Atterbury’s Catherine Bosman shares some behind-the-scenes intel.
How did the BAT deal in Maputo come about? Did the fact that Atterbury was involved in helping BAT move their South African head office play a role?
Wouter de Vos, Atterbury Property Fund CEO is an astute deal maker and well connected – he’d been assisting BAT by investigating a new head office in South Africa. During these discussions the opportunity arose to acquire BAT’s head office in Maputo as a “sale and lease back” , and so our offshore investment company, Atterbury Matola Mauritius Limited, acquired the property in December 2015.
What exactly does the deal entail? Will there be some redevelopment of the Maputo building, or will it just be asset management for now?
The property is managed by Atterbury Asset Management, which is based in South Africa. There is a future possibility to conclude a development lease for a new property in Mozambique, but there is also the option of expanding the existing premises.
What has happened since the deal was signed in December? And are there any changes planned for 2016?
For AMML we are the proud new owners of this property, which we manage as we do all our other assets, and for BAT, the tenant, it’s been business as usual.
Are there any Atterbury staff on the ground in Maputo to run operations?
No, the property is managed by Atterbury Asset Management from South Africa.
How much lettable space is there in the building, and how much space does BAT themselves occupy?
BAT occupies the entire site of 12 000sqm, which includes a building of 5 212sqm that has 1 275sqm of office space and 3 937sqm dedicated to manufacturing and warehousing.
As BAT is a global company, are there future possibilities for this relationship to benefit Atterbury in other territories?
Yes, the idea was to obtain development rights for all BAT facilities in Africa through a matter of association. BAT is a global tobacco company with more than 200 brands sold in over 200 markets.
The first concrete has been poured and construction is underway on the Pemba Retail Centre on the northern coast of Mozambique. With this development, Atterbury is changing the landscape of this little town, situated alongside one the richest off-shore natural gas reserves ever discovered. Project manager Gerhard van der Westhuizen tells us more
Are there particular challenges to running a project in Mozambique?
Travel time is a big one – Pemba is really far. There’s one direct, three-hour flight from OR Tambo daily, which only departs from ORT at 11h30, arriving in Pemba at 14h30. The same plane returns back to ORT on that day. So, when travelling to Pemba for business, one swops 17 normal business hours in South Africa for seven normal business hours in Mozambique. The language and cultural barriers also slows things down, with translation services required for all documentation, for instance.
Ensuring efficiency must take a lot of planning!
Indeed! The work culture is very different; you can’t assume meetings will start on time, and when you’re travelling in and out and have to plan your time, it can get quite challenging! Also, development in Mozambique is very expensive – the building costs are up to three times higher than in South Africa. To make a development feasible requires very detailed planning and clever work.
So why did Atterbury identify Mozambique as an expansion platform?
Atterbury’s focus on Africa is strategic, targeting underdeveloped areas that show potential for expansion. There is not much retail stock, and no significant shopping centres in Mozambique so there is a lot of opportunity. Market research has shown that most towns, like Pemba, can’t sustain more than one shopping centre, so being first is important. The cost, complex processes to obtain local authority approvals and language differences present real barriers of entry so if we put down roots first, we’ll have an advantage over any competitors.
And why was Pemba chosen specifically, as the first step?
The major natural gas reserves that have been identified off the coast there has turned Pemba into an economic growth point; it is said that there is enough gas to supply power to all of Europe for 30 years! Without further development it can already support a small retail centre, but with the anticipated growth comes extra possibilities and we are excited to be part of that future.
What is next after Pemba?
We plan to build more of these smaller convenience retail centres, and the aim is to build up a strong portfolio within Mozambique.
Situated in Pemba, some 2 500km north of our Pretoria head office, Pemba Retail Centre is Atterbury’s first Mozambican development project. It is run in partnership with Tradehold Africa and local partners as part of Pemba Investment Company Limitada. Project manager Gerhard van der Westhuizen gives a preview into the progress of this exciting development
How far is the development at present?
Earthworks have been completed and the site was handed over to the contractor to proceed with the construction on 1 June 2016. The Retail Centre is scheduled to open mid-2017.
What are the highlights of the project?
Because of Atterbury and Tradehold’s joint experience in Africa, we have an advantage over most potential competitors. Many a South African developer has tried to do retail developments in Mozambique, with very little to no success. But we’ve paid our school fees; we’ve learnt lessons about enlisting the right local consultants and partners. It’s great to be able to bring something new to the area – there are approximately 200 000 people in Pemba with no formal retail offering, so people are extremely excited at the prospect.
So what does the retail landscape look like at the moment?
At present the people buy everything off the side of the road, and in tiny 200m² supermarkets where you can never get milk, bread and eggs in the same shop on the same day. We’re going to change all that with around 8 100m² of retail space. Shoprite will be the anchor tenant and their logistics chain will make it possible to stock everything all the time. The closest Shoprite at the moment is 200km away to the south.
Aside from Shoprite, what else will the mall offer?
We are targeting Mozambican national tenants – chemist, fashion retailers, electronics, that sort of mix.
In future, there will also be some office space as part of the retail centre. Atterbury Mauritius acquired the BAT building in Maputo, Mozambique in December 2015. The property consists of 3 937m² warehousing and 1 275m² offices making up the total 5 212m² industrial building. BAT is a global tobacco company with more than 200 brands sold in over 200 markets.
How many Atterbury people are on the ground in Pemba?
There are no Atterbury employees based in Mozambique. Most of the consultants in the team are South Africa-based but we do make use of some key local consultants. There is a lot of travel involved!
What was on the land before?
It was land on which an informal market was situated, with about 35 little shops. Our purchase of the land was contingent on it being unencumbered, and it was cleared with the help of the local authority within three months. The market is now situated elsewhere in town. There was also a municipal road running right through the site, which was closed. And only afterwards did we discover that there were adjacent properties that require access to their houses via our land, so this also required a bit of juggling and slicing off of a bit here and there before we could get going! You learn to go with the flow and deal with the challenges as they arise… any project in a foreign territory brings some unexpected surprises, almost daily!