Barloworld Park Precinct redevelopment set to begin construction in May

The Barlow Park Precinct’s redevelopment will begin before mid-year. The R3 billion plus project will transform the Sandton Central landmark site from a corporate office park into a vibrant, modern mixed-use precinct. The park previously housed Barloworld’s corporate office, logistics and equipment head offices.

In collaboration, Barloworld, Atterbury and African Rainbow capital are working on this project. As the co-investors in the redevelopment of the prime Barlow Park Precinct, each party will hold one-third of the property.

Property investor and developer Atterbury will lead all aspects of the development for the joint venture in conjunction with Barloworld. Atterbury will be the asset manager of the completed development and the group has confirmed that work will begin on site by May this year.

Derrick Pautz, Atterbury Development Manager comments:

“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.”

The new development will include 55 000 square meters of office space, 700 residential units and roughly 12 000 square meters of a community retail centre besides other leisure, hospitality and recreational uses.

The development is 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 site benefits from Sandton’s new road upgrades too – for private and public transport vehicles as well as cyclists and pedestrians directly around the property. Being located near to the Alexandra township, the development is ideally placed to benefit its immediate community through local economic and job opportunities during construction and for years to come following its completion.

The project is 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 … Each element is being designed for matchless quality with optimal functionality, efficiency, collocation, access and visibility” concludes Pautz.

Source: Propertywheel.co.za | https://propertywheel.co.za/2019/02/barloworld-park-precinct-redevelopment-set-to-begin-construction-in-may/

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.