Completed within three years of the commencement of sales (2004-2007), Greenstone offers a mix of retail, commercial and residential developments including the Greenstone Shopping Centre (75 000m2 project), the Stoneridge Lifestyle Centre (65 000m2), 12 secure residential estates (allowing for the development of more than 4 000 homes) along with office and commercial developments.

Greenstone is part of the Modderfontein site owned by the AECI Group for more than a century. This site is part of the land that has become surplus to AECI’s operational requirements;  Heartland’s focus is on development projects that can best realise value from such land which is now available for alternate use.

Paul McAfee, MD of Heartland Properties explains: “Over the past 10 years the area has boomed. It was an ideal site for a large scale, mixed use development as it is strategically located within the core of Gauteng’s growth and investment zone and straddles the east-west route of the Gautrain Rapid Rail Link. Greenstone is an integral part of the development corridor between Sandton and OR Tambo International Airport, which is 15 minutes away.

“Because we were starting “from scratch”, as it were, we were in a unique position to create a “model modern town” in such a way as to offer security of investment and value appreciation to developers.  We took a long-term view aimed at achieving a new standard in urban design. As a result we invested heavily in infrastructure and landscaping, maintained strict control over aesthetics and applied sound town planning principles to Greenstone,” he explains.

Michael Walsh, Heartland’s Sales Director, comments that, “By partnering with developers we have been successful in creating an integrated quality environment.  End user buy-in to Greenstone has affirmed that we have realised our vision for a model town which offers a quality lifestyle, work, live and play environment. It is also a testament to our long-term view on development at our sites, both in Modderfontein and at Somerset West.”

Greenstone Facts and Figures:

Greenstone covers a 320 hectare portion of the 4 200ha Modderfontein property owned by AECI

When developing Greenstone, Heartland installed:

·           Roads & storm water  +/- 11km

·           Water reticulation       +/- 2.8km of pipe

·           Sewer reticulation       +/- 2.8km of pipe

·           Electrical reticulation  +/- 10km of cable.

 Developments underway/completed at Greenstone include:

·           12 residential estates (the site allows for more than 4 000 residential opportunities).  

·           Greenstone Shopping Centre (75 000m2)

·           Stoneridge Lifestyle Centre (60 000m2)

·           Greenstone Hill Office Park (8 0000m2)

·           Greenstone Gate office development (20 000m2)

·           A Life Hospital and Educational Facility

·           A Motor City

Developments within Greenstone:
 
The Greenstone Shopping Centre

Just three months after opening, Greenstone Shopping Centre is proving to be a major attraction for shoppers, from Edenvale and the surrounding North Eastern suburb communities, as well as from further afield.

“We are extremely happy with the trading,” comments Lynda Burger, Portfolio Manager at property services company JHI, responsible for both the letting and now the property management of the centre.

“The centre is becoming a hub of retail and recreational activity – due to the centre’s location, the excellent mix of tenants in the 150 stores and the facility itself, which is true state-of-the-art when it comes to shopper convenience and comfort,” she adds.

The 75 000 square metre development by Sasol Pension Fund boasts anchor tenants like Pick 'n Pay, Woolworths, Game, Dischem (the second largest of their stores in the country, at 2 500m²) and Ster-Kinekor, with the Foschini, Pepkor, Truworths and the Mr Price Group of stores also included amongst it's nationals. The Mr Price Group have introduced a 2 033m² Mr Price Sports outlet in the centre.  Adding to the entertainment component of the mall is Super Bowling, a bowling centre occupying 1 067m². A significant number of line shops, restaurants, food outlets, furniture and services have been represented in the centre, making for a varied and exciting retail offering.   

Stoneridge Lifestyle Centre

Construction has commenced on the first phase of Hyprop’s Stoneridge Lifestyle Centre, with completion scheduled for September 2008. Stoneridge is being developed by Abland who identified the opportunity in the node for a convenient, family-orientated lifestyle centre. Anchor tenants include Super Spar, Virgin Active, Liquor Warehouse and Out Door warehouse.  The Stoneridge Centre will not only compliment the nearby Greenstone Mall but the synergy between these retail centres is likely to spur on even further development in the area.  Adjacent to Stoneridge Centre, Abland and Hyprop are investigating developing a hotel or offices.

Abland’s Motor City

Abland’s ‘Motor City’ is a unique product and brand developed by the company since the mid 1990s, and in Greenstone this 6000m² centre caters for the motor dedicated service sector and showroom users with amongst others the likes of Tiger Wheel & Tyre, Midas, Bosch and other potential users such as PG Glass, Dent Doctor, Mobile Fitment Specialist and Motorcyles. This centre is also complimented by a KFC drive-through and will be open to trade by August 2008.

The high exposure of the motor related sites has also attracted substantial motor dealerships interest. A premium brand dealership is planned adjacent to the Motor City which would accommodate a flagship facility for both new- and used vehicles supported by a top of the range panel shop facility. The dealership is aimed to open by end of 2008.

 
The Ridge

Paladin’s Ridge Shopping Centre, a neighbourhood centre comprising of 5 000m2 retail space and 1 630m2 of medical and general use offices, will break ground in September 2007. Opening is scheduled for May 2008.

The centre will be anchored by a Spar Supermarket and Tops bottlestore together with a hardware store, chemist, shops and numerous takeaway and eat-in facilities.

Parking is provided for 385 cars with security booms and 2 hours free parking.

 
Comments developer Sam Davies, “We decided on a boomed-off parking area for greater security and better control of parking. We believe two hours is more than enough for shopping and eating-in. Office users and retail staff will have separate parking facilities ensuring shoppers get the best parking at all times’. 

 
Greenstone Gate

Preliminary ground work has started on Paladin’s 17 000m2 Sectional Title office development, Greenstone Gate. The project has five precincts with 22 small office blocks around courtyards and fountains.

 
The central area is wi-fi enabled and pathways are designed to link every office to the central tavern. The project offers 770 car parking spaces, a ratio of over 1 car space per 20m2. The project will be in 3 phases, the first scheduled for completion in May 2008.

 
Greenstone Hill Office Park

The first phase of the 8 000m2 Greenstone Hill Office Park is scheduled for completion in May 2008 and will provide 30 000m2 of office space. The development is a joint venture between Barrow Construction, Vunani Capital Holdings subsidiary, Vunani Properties and Sherrat Property Ventures.

“The response to our office park has been unprecedented in terms of demand. The mixed use concept of having work, schools, shopping and homes in close proximity clearly makes Greenstone a desirable location,” says  Pieter Mackenzie from Vunani Properties. Paul Barrow from Barrow Construction agrees and adds, “Heartland’s improvement of the road infrastructure has paid dividends with many tenants listing this, along with the close proximity to the Greenstone Shopping Centre, as Greenstone Hill Office Park’s strongest selling points.”

Life Hospital and Educational Facility

Ansell Property Holdings’ site at Greenstone will house a Life Hospital, construction on the hospital has commenced and  completion is scheduled for June 2008. The site also allows for the development of an educational facility, which will be developed into the future.

Motor Dealerships and Workshops

M&F Giuricich Developments (Pty) Ltd have begun construction on their 9 ha site which will house several motor dealerships and workshops, adjacent to the Greenstone Shopping Centre.

MD Florian Giuricich explains, “The volume of new homes constructed in the area will generate the energy that is needed to support the retail and motor showroom developments planned over the next few years. Due to the current traffic build up, people in Gauteng have been forced to look at re-locating their homes to a more centralised area with easy access to road networks and general amenities. Greenstone therefore provided us with perfect sites for the development of showrooms and workshop facilities. It clearly satisfied the following important criteria for the construction of a motor dealership namely: Location in a high growth area; Location in a suitable business area, yet close to residential areas; Visibility and Potential for growth. Both facilities have been constructed with built-in future growth for at least the next 12-15 years. Extra parking has been allowed for to cater for this growth.”