New development aims to uplift Amanzimtoti
If all goes according to plan, the new Oxford Freshmarket store will open its doors for business by late 2024.
AN OLD golf driving range in Amanzimtoti is about to transform into Oxford Freshmarket and is expected to boost the economy and create hundreds of jobs.
The sprawling 9 000m2, R120-million Oxford Freshmarket and Oxford Liquor is being built opposite Engen Galleria on Moss Kolnick Drive on a piece of land that Oxford Freshmarket’s CEO, Brett Latimer, bought in 2013. Once complete, the complex will provide a convenient shopping experience to customers who always seek Oxford Freshmarket for its fresh stock and affordable prices.
Also read: New Doonside Mall awaits final approvals
Latimer said his commitment to the region of eThekwini makes him excited about the development and what it is about to achieve.
“Oxford Freshmarket believes in economic development. This project is going to benefit not only the local people through employment, but the taxes we pay to the National Treasury will benefit the whole country,” he said.
Of the R2-million profit that the Amanzimtoti store will make per month, R600 000 will be paid to the government as company tax, plus a further 20% dividend tax of R400 000. That translates to R12 million annually in taxes paid. Furthermore, an additional R87 million will be paid in VAT annually.
Latimer is widely known in business circles and has always ensured that through his businesses, he builds, nurtures and develops staff so they can grow with the business. Oxford Freshmarket currently employs 750 staff members and is set to create about 350 jobs during the construction phase, with a further 350 permanent jobs upon completion of the development. Latimer also expressed his intention to work with the local business forum, the taxi association and the local councillor to ensure all employment opportunities are fairly awarded.
On the store-opening date, Latimer said Oxford is currently awaiting final approval from the relevant authorities at eThekwini Municipality which they hope to obtain by mid-November at the absolute latest. The project will go out to tender, and building can commence on February 1, 2024. He expects construction to take approximately nine months.
DID YOU KNOW?
Click on the words highlighted in red to read more on this and related topics. To receive news links via WhatsApp or Telegram, send an invite to 061 694 6047.
Do you have more information pertaining to this story? Feel free to let us know by commenting on our Facebook page or you can contact our newsroom at 031 903 2341 and speak to a journalist.
(Comments posted on this issue may be used for publication in the Sun)
