Popular shopping mall in South Africa’s capital to get a R646.3 million redevelopment

Brooklyn Mall in Pretoria is set for a major redevelopment, with Growthpoint Properties committing R646.3 million to the redevelopment of the shopping centre and adjoining Brooklyn Square.

Scheduled for completion in May 2029, the project covers the company’s 75% interest in the retail complex. Growthpoint had previously confirmed that redevelopment plans for Brooklyn Mall were in progress.

Its 2025 annual report said the project was in the planning phase, while its interim results for the first half of 2026 recorded R73.4 million in approved development costs.

The redevelopment comes as the mall faces persistent vacancies and weaker rental performance. Its vacancy rate increased from 3.6% in 2019 to 18.7% in 2024, before improving slightly to 16.8% in 2025.

Growthpoint’s 2026 annual results presentation listed Brooklyn Mall and Brooklyn Square among its retail development commitments.

The project is recorded at R646.3 million, with an estimated completion date of May 2029. The commitment relates to Growthpoint’s 75% share of the complex.

While the company has not provided a detailed breakdown of the planned work in the supplied results, its presentation confirmed that 1,610m² at Brooklyn Mall is being repurposed for future development.

This forms part of a broader strategy to redevelop or repurpose space across its Gauteng retail portfolio. Growthpoint is also repurposing 3,884m² at Key West Shopping Centre.

The company explained that these adjustments reduced both gross lettable area (GLA) and vacancies in the region.

Brooklyn Mall has also introduced ticketless Admyt parking systems. Growthpoint said these should improve access and circulation while providing better data on parking activity.

The latest redevelopment commitment follows earlier changes at the mall aimed at attracting shoppers and improving its tenant mix.

In 2024, several major retailers upgraded their stores, including Woolworths, which invested more than R50 million in its Brooklyn Mall store.

The upgraded store introduced a WCellar and Woolworths Café, alongside fresh fish, butchery and bakery offerings.

Other retailers, including Yuppiechef, Volpes, Sterlings, Golden Goose, Mr Price Home and @Home, also expanded their stores.

Brooklyn Mall has also added retailers such as Levi’s, Miekeraai, Steve Madden and Birkenstock.

Why Brooklyn Mall needs a turnaround

Brooklyn Mall’s redevelopment follows several years of weaker operating performance.

An analysis of Growthpoint’s annual financial statements revealed that the mall’s vacancy rate increased significantly after the COVID-19 pandemic.

Vacancies stood at 5.3% in 2015 and remained between 4% and 6% for much of the period before the pandemic. They reached a decade-low of 3.6% in 2019.

However, the rate increased to 5% in 2020 and 8.7% in 2022. It continued rising, reaching 18.7% in 2024 before falling to 16.8% in 2025.

Growthpoint previously identified the closure of a Game store as a major contributor to vacancies. The company also highlighted persistent vacancies in the office space and Cinema Nouveau.

The mall’s rental performance has also come under pressure. Monthly gross rental declined from R313.34 per m² in 2020 to R279.78 per m² in 2025. This was only slightly above the R262 per m² recorded in 2015.

The mall’s gross rental was also reported at R260.56 per m² in 2024, down from R306.87 per m² in 2019.

Its physical size has changed over the same period. Brooklyn Mall’s GLA increased from 55,935 m² in 2015 to a peak of 56,439 m² in 2023. It then declined to 56,418m² in 2024 and 55,370m² in 2025.

Growthpoint’s latest results indicate that further space is being repurposed for development, which will also reduce the reported GLA and vacancy figures.

The company said its overall retail vacancy rate fell to 3.5%, the lowest level since 2015. However, it attributed part of this improvement to strategic conversions and redevelopment, rather than leasing activity alone.

The pressure on Brooklyn Mall has also been reflected in its historical valuation. Growthpoint’s 75% stake in the mall was valued at R2.08 billion in 2015. This increased to R2.26 billion in 2016, then declined to R1.66 billion in 2022.

However, since 2023, Growthpoint has stopped disclosing the mall’s individual valuation in its financial statements, which makes it difficult to assess its current value.