Name of the Project
Springs Mall project.
Location
The project is located at the Blue Crane Eco Park development, in Gauteng, South Africa.
Client
The mall is a joint venture between Giuricich Bros Group, Blue Crane Eco Mall, shopping centre developer and leasing specialist Flanagan & Gerard Property Development & Investment, and JSE-listed retail-focused real estate investment trust Vukile Property Fund.
Project Description
The Springs Mall entails the development of a 48 000 m2, two-level mall in the greater Springs area, in Ekurhuleni, in the east of Gauteng.
The project will draw R300-million to R500-million in retail revenue that is currently being spent elsewhere, as the region remains underserved.
The 120-store mall will be accessible at the intersection of the N17 highway and R51/Wit road and will act as an interceptor on the N17 for people travelling to Mpumalanga and Swaziland.
As part of the earthworks contract, there will be a realignment of Jan Smuts road along the northern side of the site, providing the centre with frontage on the N17 highway.
To mitigate the impact of load-shedding and as part of several green features of the mall, the developers are investigating the installation of solar-generated power as a supplement to the municipal electricity supply.
The broader Blue Crane Eco Park development will result in further commercial development on 10 ha surrounding the mall.
Jobs to be Created
The mall will create about 1 500 new jobs for local residents and will also provide a platform for entrepreneurial businesses to establish themselves in a new mall.
Value
R950-million.
Duration
The mall is set to open its doors in 2017.
Latest Developments
Construction of the Springs Mall is well under way.
Located in the Casseldale suburb, at the intersection of the N17 highway and the R51/Wit road, the mall is easily accessible, with further access from the N17 and Jan Smuts road.
The mall is 95% let, while 75% of the subcontracts have been let. Anchor tenants include retail majors Pick n Pay, Checkers, Woolworths and Edgars. Other tenants include retailers Foschini Group, Truworths, Mr Price, Clicks, Dis-Chem and Incredible Connection.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
The regional shopping centre is on schedule and within budget to open in March 2017.
Contact Details for Project Information
Flanagan & Gerard Development, tel +27 11 783 8449.
Giuricich Bros, tel +27 11 802 5821, fax +27 11 802 5826 or email enquiries@giuricich.co.za.