LLR mulls shopping mall in S/Phikwe

Property investment company, Letlole La Rona (LLR) is mulling over developing a shopping centre in Selibe Phikwe.Currently LLR has one retail property in Gaborone, which translates to six percent of the company property portfolio. In the company’s 2015 annual report, LLR Chief Executive, Paul More said a feasibility study has already been undertaken that has confirmed the demand for more retail space in Selibe Phikwe and the targeted development will fill part of the existing gap in the gross let- table space. “The site targeted for development is conveniently located at the heart of the town’s CBD and the envisaged retail development will complement the hotel already situated o the said piece of land,” said More. Speaking to Business Trends, More said currently they are in the process to publish an expression of interest and get advice on the size and how to construct the property. “Construction processes requires a lot of time as there are lots of processes involved. At the moment we are still processing the expression of interest,” said More. He said they want to start the construction by the firsthalf of 2016.For the next financial has identified opportunities that will drive the growth of its property portfolio. More said the company is in the process of negotiating substantial standby facilities with a view to taking full advantage of opportunities as they arise. LLR is also listed company.