By Nick Wilson

The Morningside shopping centre in Sandton is set for a R200m redevelopment that will see it quadruple in size.

Flanagan & Gerard Property Development and Investment, and Grapnel Property Group acquired the centre in a joint venture a month ago for an undisclosed amount.

The 2ha site, on the corner of Outspan and Rivonia roads, consists of a 2000m? shopping centre and a BP service station.

Pat Flanagan, joint owner of Flanagan & Gerard Property Development & Investment, says the developers envisage a double-storey shopping centre with 50-60 shops. As it stands, the 20-shop centre is fully let.

"It will be much larger, four times the size at between 8000m? and 10000m?," says Flanagan.

Parking space will also be increased, but Flanagan says the rights to developing a service station will not be used. "A service station is in conflict with optimising a convenience shopping centre experience. We will be giving the things they (shoppers) want most often," says Flanagan.

"Our research has indicated that the current Morningside shopping centre, which was developed many years ago and which has undergone little change in that time, plays an important role in the community.

"At the same time, it is not providing the community with its daily needs and it is this gap that we intend filling. To this end we are engaging the current tenants to assess who will form part of the newly developed centre.

"We certainly wish to continue serving the community with elements with which they are already accustomed and to broaden the offering."

The developers say they are planning a tenant mix that will be led by a niche food store, as well as speciality food stores, services such as banks, hairdressers, health and beauty specialists, book and music stores, speciality coffee shops, restaurants and fast-food outlets, among others.

The new owners also plan to assist with the improvement of the roads in the immediate area.

Flanagan says it is hoped the redevelopment will be completed by October next year.

Grapnel says the acquisition is in line with the company's strategy of growing its portfolio by buying well-located office and retail properties.

Business Day