The north of Pretoria will boast a new mixed-use development. Pretoria North landscape will never be the same again, once the Rainbow Junction development, costing R2,5bn, at 94,000m2 is completed.
The project is getting mass response from investors and developers wanting to be a part of the project, which will be located 6km north of the Tshwane CBD.
According to Gavin Tagg, CEO, Retail Network Services, and Rosella Dingle, CEO and spokesperson, Rainbow Junction Development, the development is a catalyst for more mixed-use developments.
“The development is located on a 140 hectare greenfield site with multiple advantages. We aim to create a new South African landmark. The development has been approved by the municipality and environmental bodies,” says Tagg.
Rainbow Junction Development is at the forefront of the new site development, which will boast 165,000m2 and 250 retail stores, a cinema complex and ice rink, 170,000m2 of commercial office space, a 120,000m2 residential node, 65,000m2 for a hotel and conferencing facilities and 37 hectares of green open space for social and recreational facilities.
The project is expected to continue for 10 to 15 years, with an extra R10bn and R12bn extension.
The development is located close to major national highways, arterial roads, and rail and air connections. It is also located next to the Wonderboom Station, and 3km away from the Wonderboom National Airport. A further larger transit hub is expected to be implemented by the City of Tshwane.
Roads running towards the development are the M1 Paul Kruger Street extension; Sefako Makgatho (Zambezi) Drive, which links to the N1 highway; the N4 Platinum Highway; and the K97 link road. It is also close to the Apies River.
Member of the Mayoral Committee for Economic Development and Planning at City of Tshwane Councillor Subesh Pillay says that the project will contribute towards the City’s objectives for new, resilient living in the outlying northern area of Pretoria.
The project will further provide 45,000 new jobs over its development phase, which will boost the economy, and provide growth to the city. Developers are also looking towards a third element building, which is a high-rise viewing tower.
Growthpoint Properties’ R150m Greenfield Industrial Park Development will introduce a quality, modern industrial park on a prime 3.4ha site in Airport Industria, near Cape Town International Airport.
Set for completion on 30 November 2015, Greenfield Industrial Park is the landmark redevelopment of the former Wasteman site. It will benefit the entire area by introducing an upmarket, efficient industrial property to the site. And, true to its name, it will provide innovative green industrial space as part of its leading, sustainable development.
With its excellent location, Greenfield Industrial Park is well situated in the high-demand Airport Industrial Node, on Manchester Road, adjacent to Borcherds Quarry interchange and Airport Approach Road. It is positioned for easy access with good proximity to the N2 highway, for both north- and south-bound routes. It also benefits from excellent visibility with prominent signage opportunities.
Riaan Munnik, Development Manager at Growthpoint Properties, comments, “We are extremely positive about the Airport Industria node. Greenfield Industrial Park will bring to market a prime industrial property in a growing business hub with proven strong demand.”
Greenfield Industrial Park includes 21,000m² of flexible, sub-divisible space, intended to meet the needs of modern business. Ideal for a single large user, the design of Greenfield Industrial Park can also be tailored to client needs with multiple units starting from around 3,500sqm. It features internal stacking heights of 12 metres, and Growthpoint is providing fully-finished office components as well as a tenant allowance for clients to use as required.
The Greenfield Industrial Park site is designed for efficiency, including optimal use of warehousing, yard area and roadways. The park includes two entrances and exits, and features generous parking facilities.
It has also been designed with sustainability in mind, with positive environmental innovations so significant that Growthpoint is in the process of registering for a Green Star SA – Custom Industrial Rating Tool with the Green Building Council of South Africa (GBCSA.) The building is targeting a 4-Star Green Star SA rating.
Integrated features to reduce utilities costs at Greenfield Industrial Park include alternative energy from solar panels, water-wise landscaping, well points, waterless urinals, and recycling. Greenfield Industrial Park will also feature low-energy light fittings that complement its smart design, which uses natural light to save on lighting costs. This means it will become a landmark industrial property that is respectful of its environment, and also save its occupants money.
Moreover, it will create a healthy and appealing working environment with breakaway areas for staff as well as shower facilities for cyclists and runners.
“We are extremely excited that Greenfield Industrial Park is in the process of getting registered with the GBCSA for a Green Star SA Custom Industrial rating, and pleased to be part of setting new benchmarks in sustainability for this sector,” remarks Munnik.
Stefanutti Stocks is the appointed contractor for the development. “This respected team will add their excellent track record and high level of health and safety standards to the quality development of Greenfield Industrial Park,” says Munnik
Growthpoint Properties is developing several strategic industrial and office properties in and around Cape Town, with its skilled local development team. These investments are situated in developing nodes that are popular with leading business and have a proven demand for space. Greenfield Industrial Park fits this bill and Munnik is confident it will be well received by the market and enjoy a strong uptake.
Growthpoint is South Africa’s largest REIT and a JSE ALSI Top 40 Index company. It owns and manages a diversified portfolio of 471 properties in South Africa, 53 properties in Australia through its investment in GOZ and a 50% interest in the properties at V&A Waterfront, Cape Town. Growthpoint’s consolidated property assets are valued at over R100bn.
Engelbert Binedell, Divisional Director of the Industrial Sector for Growthpoint, explains that Growthpoint’s industrial team has a strategic imperative to extract value from its existing asset base in response to the scarcity and relatively expensive acquisition opportunities in the present market.
“This redevelopment is a perfect example of Growthpoint’s drive to optimise its industrial property portfolio by adding value with environmentally innovative developments. In this way, we create better buildings for businesses to thrive and secure their industry footprint,” says Binedell.