Retail

Well-known shopping mall revamped with modern Checkers, Pick n Pay, and Woolworths stores

Bianke Neethling • 5 August 2026

Irene Village Mall in Centurion has undergone refurbishments, including a new wing that was added to the mall, which houses a Checkers Hyper.

This means Irene Village Mall now has a Checkers, Pick n Pay, and Woolworths competing within the same centre.

Otto1890 senior equity analyst Alec Abraham told Daily Investor that it is rare for multiple major retailers to be located within the same relatively small shopping centre.

He explained that in the past, anchor supermarkets included exclusive-use clauses in their leases, which prevented landlords from allowing another supermarket to open in the centre.

However, a recent Competition Commission market inquiry introduced a major change that now allows multiple anchor tenants to operate within the same centre.

The Competition Commission commenced its Grocery Retail Market Inquiry in 2019 after seeing a number of challenges experienced by various players.

One of the findings of this inquiry regarded the bargaining power possessed by national supermarket chains as anchor tenants.

‘Anchor tenants’ refer to main tenants, usually national supermarket chains, located in a shopping centre. These tenants’ prestige and brand recognition attract both retail customers and other tenants.

The competition watchdog found that these tenants’ bargaining power manifests in the requirement for exclusivity in lease agreements.

It established that the vast majority of Shoprite and Spar leases, and a majority of Pick n Pay leases, contained exclusivity provisions.

Woolworths leases did not have explicit exclusivity clauses, but had some provisions that impacted letting and usage.

“The Inquiry has found that exclusive leases have substantially hindered the emergence of challenger retail chains to the main four national retailers,” the commission said in its inquiry report.

The commission found that these agreements have also prevented economic participation by small independent retailers, including specialist retailers.

Thus, the commission recommended the phasing out of such clauses, “and that’s how we get to three supermarkets opening in the same centre”, Abraham said.

Checkers going head-to-head with Pick n Pay and Woolworths

Irene Village Mall debuted its new Checkers Hyper, along with other new retailers, on Thursday, 30 July 2026.

The mall underwent major refurbishments to accommodate its new tenants, including the addition of a new wing where Checkers Hyper is located.

This new Checkers Hyper has 5,369 m² of floor space, offering a wide selection of fresh food, groceries, general merchandise, and speciality offerings.

The existing Pick n Pay and Woolworths stores at Irene Village Mall have been at the centre since 2008 and 2022, respectively.

As part of the mall’s recent refurbishment, the Pick n Pay also underwent a makeover, with the store upgraded and modernised.

Abraham told Daily Investor that the chances of all three grocery retailers at Irene Village Mall succeeding are unlikely.

He noted that their success will depend on many factors, including loyalty programmes, shopper preferences, product offerings, and pricing relevance to the catchment area consumers.

However, he said all three retailers located in such close proximity could encourage discount shopping among price-sensitive consumers.

Discount shopping is where consumers just shop the specials at each retailer, which Abraham said would make it difficult for all to be equally profitable in such close proximity.

“In my opinion, while Checkers and Pick n Pay compete head-to-head, I think Woolworths is sufficiently distinct,” he said.

When it comes to Woolworths, some consumers, particularly higher-income shoppers, would not shop at the other retailers merely because they are located close together.

The retailer has effectively built a moat, with many consumers shopping for their groceries exclusively at Woolworths stores, regardless of price or location.

Therefore, Irene Village Mall’s unique mix of price-sensitive and higher-income shoppers will likely play a large role in deciding the success of the mall’s three anchor tenants.