Home to many of South Africa’s largest corporates, Sandton is in for another commercial transformation, with a collaboration of three companies investing over R3 billion to redevelop Barlow Park precinct.
Located at 180 Katherine Street in the financial capital of Sandton Central, the property enjoys a prime position flanked by the M1 highway and the major Katherine Street thoroughfare.
The R3-billion redevelopment will transform this landmark site from a sprawling corporate park previously housed Barloworld’s Corporate office, Logistics and Equipment head offices, into a vibrant modern mixed-use precinct.
Construction will start in May this year, according to the owners.
The project is a collaboration of Barloworld, Atterbury and African Rainbow Capital. As the co-investors in the redevelopment of the prime Barlow Park Precinct, each party will hold one-third of the iconic property.
“The project will commence in the second quarter of 2019 starting with two months of demolition work before the bulk earthworks begin for the basements. This will take roughly six-months to complete, then top structure construction work will begin towards the end of the year,” confirms Derrick Pautz, Atterbury Development Manager.
The new Barlow Park development includes 55,000sqm of offices, 700 residential units, and roughly 12,000sqm community retail centre, besides other sought-after leisure, hospitality and recreation uses.
It has access and visibility on both major arterials, and is less than two kilometres from both the Grayston Avenue and Marlboro Drive offramps from the M1.
The site benefits from Sandton’s new road upgrades – for private and public transport vehicles as well as cyclists and pedestrians – directly around the property. Being located at a major connection point to the nearby Alexandra township, the development is ideally placed to have a positive impact on its immediate community through local economic and job opportunities, during construction and for years to come after its completion.
The project expected to take six to eight years to develop.
“As a unique site in a coveted location, Barlow Park will be developed in line with very latest in world-class modern multiuse developments,” reports Pautz. “Each element is being designed for matchless quality with optimal functionality, efficiency, collocation, access and visibility.”
Source: SA Commercial Property News http://www.sacommercialpropnews.co.za/south-africa-provincial-news/gauteng/8952-r3-billion-development-set-to-elevate-sandton-barlow-park-precinct.html