R 950 million Springs Mall on schedule to open in March 2017
Construction of the R950-million Springs Mall at the Blue Crane Eco Park development, in Gauteng, is well under way, with the 48 000-m2 regional shopping centre on schedule and within budget to open in March 2017, says main contractor Giuricich Bros Group.
The mall is a JV between Giuricich Bros Group, developer 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.
Springs Mall, which will comprise more than 120 stores, is 95% let, while 75% of the subcontracts have been let. Anchor tenants include retail majors Pick n Pay, Checkers, Woolworths and Edgars. While the mall forms the anchor of the broader Blue Crane Eco Park development, further commercial and retail development is expected on the surrounding 10 ha.
Flanagan & Gerard MD Paul Gerard says: “It will bring about 1 500 new jobs for local residents and will also provide a platform for entrepreneurial businesses to establish themselves in a new mall with excellent visibility and accessibility.”
Gerard further says: “We ensure that all the macro fundamentals – location, accessibility, visibility, growth within the trade area, and tenant and bank support – are in place.” Key features of the mall, a two-level centre with vertical transportation in three regularly spaced areas, include designs with natural light.