A local property expert has warned against labelling the current wave of business closures in Grahamstown a trend, naming poor location rather than economic downturn as the cause.
A local property expert has warned against labelling the current wave of business closures in Grahamstown a trend, naming poor location rather than economic downturn as the cause.
Hot on the heels of the closures of Telkom, CNA and Dunns in Grahamstown comes the news that Waltons and Sheet Street closed shop this month. Waltons, located on Hill Street, and Sheet Street, located on the corner of Beaufort and West Street, both with long-term leases expiring within the same time frame, have allowed the leases to lapse.
Maritime Motors, which owns the Walton's premises and is situated next to it, plan to open a used car lot on the old Walton's premises. Les Staltz, the Sales Manager of Maritime Motors, said renovations should start within the next week and should be complete in a month.
The reason Staltz gives for Waltons closure is simple – it did not engage with its target group of school pupils and university students. The premises Waltons was situated in wasn't suitable for its customers, as it wasn't in the centre of town, Staltz said. Sheet Street suffered the same problem of not being centrally located.
The Manager of Sheet Street, Zanzi Gxala, said The premises were too big, not in the right position and some customers complained of no place to park their cars. These reasons contributed to the retailers' decision not to renew their lease agreements.
The Sheet Street staff have been absorbed into the local Mr Price Clothing shop and the Sheet Street branch in East London, but Gxala said the outlet did not want to lose their Grahamstown branch. This was just the wrong site for a Sheet Street, but we are still looking for other premises in town.
Well-known Grahamstown resident Jill Rothman, who has lived here for 47 years, said, "I didn't even know that Sheet Street existed in Grahamstown. Not many people go down that way."
The Rental Manager of the Grahamstown Remax branch, Charmaine van Staden, said rental prices for commercial outlets have not gone up since the economic recession, remaining steady at R50-R70 a square metre.
Gillian Meyer, the Principal of Stewart Armitage Estate Agency, who has worked as an estate agent for six years in Grahamstown, said it is just the way the lease expiration situation panned out. "From my understanding, the empty premises have all been re-tenanted, which is a positive sign. It shows a strong belief in Grahamstown," Meyer said.
