Property Description

Arcades Shopping Centre has a total GLA of 18,382m2 and its tenants include international retailers, restaurants, clothing boutiques and banks. Arcades was one of the first modern style shopping centres in Lusaka offering entertainment facilities to Zambians and is still well recognised as being a prime retail and entertainment destination in Lusaka. Arcades Shopping Centre also has a Sunday market, which is held in the car park of the shopping centre and is popular with Zambians as well as tourists.

Arcades has a 50 year lease with ACSZ for the rental of the land, which attracts an annual lease payment of US$58,800. The shopping centre currently has 61 tenants and charges an average rental per m2 of approximately US$14.00. The majority of the leases are 5 year leases, and the current average escalation rate is 4.5%.