Alternate or non-gross lettable area (non-GLA) spaces are fast becoming top revenue generators for property developers and mall managers. Mall Ads has recently been selected to partner with the SA Corporate Real Estate Fund to fulfil the role of non-GLA service provider. SA Corporate has contracted Broll to manage the property portfolio of the JSE-listed fund, which was the third-best performing property stock in 2016.
Carmen Collison, retail asset manager at SA Corporate said, ‘Focusing our non-GLA efforts with partners that can drive growth in this area is paramount. As with anything, a focused approach ensures that we are able to understand the operational dynamics, revenue streams and where the growth opportunities lie within this space. The non-GLA scope is diverse and cuts across all areas of our core business. It is refreshing to partner with a team that sees beyond the traditional scope of non-GLA and we look forward to pioneering new concepts and initiatives that will see our revenue growing in this area.’
Mzukisi Deliwe, deputy CEO of Provantage Media Group, believes the five-year contract will bear significant fruit, ‘PMG has a credible track record of managing property owners’ rights and associated revenues, having won media rights from PRASA, ACSA, Vukile and Anaprop. Our award-winning team is looking forward to extending its know-how and skill set into the commercial and landlord space, where we will focus on innovating and extracting maximum revenue from the available assets.’
‘When considering proposals, Mall Ads was found to be the only potential service provider that presented beyond mall media and could fully comprehend the scope of non-GLA revenue generation within the retail property environment,’ said Andile Rapiya, Broll national marketing manager, SA Corporate Portfolio.
Deliwe said Mall Ads aims to unlock business opportunities across the group and create additional value for property owners. ‘It is refreshing to be working with an award-winning property owner and a management company that are keen to innovate the approach to non-GLA management as one of collaboration and teamwork,’ he said.
Deliwe further stated, ‘We are excited and honoured to be working with SA Corporate and Broll. Our aim is to look beyond media sales, with an emphasis on value-added services and digital IT infrastructure. We intend to focus on growth strategies that will provide holistic solutions for landlords and property owners, extracting maximum revenue from their assets through innovation while creating fresh, exciting new content platforms for blue-chip brands and traders alike.’