A look at the new R3 billion precinct in Sandton
10-08-2022
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Business Tech
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Property development group Atterbury says that work has finally started on the new Barlow Park redevelopment in Sandton, following numerous delays.
The project was first unveiled in 2017, valued at R3 billion with an expected development time of six to eight years. However, due to the Covid pandemic and the ever-changing real estate landscape, the project suffered several delays.
“Although the wait was long, we are fortunate to finally commence the Barlow Park development,” the group said in a note. “It took numerous permutations to make the scheme work due to the changing real estate landscape, but we finally turned the first sod on the 7th of July.”
Bulk earthworks for the first phase of the project commenced in June 2022 and will transform the site from the corporate park that previously housed Barloworld Limited’s Corporate-, Logistics- and Equipment head offices into a vibrant, modern, residential-anchored mixed-use neighbourhood.
The original plan for the development was for it to be anchored by corporate office parks, but Covid-19 and the resulting shift in the real estate landscape has turned it into a residential-driven project.
The development comprises a new high-density residential precinct with ancillary uses including convenience retail educational, commercial and healthcare as part of the overall project.
Phase 1 of the development includes 1,630 residential units, primary and high school and 5,500 sqm of convenience retail.
Atterbury said the development will focus on the establishment of a sustainable urban framework with multiple outdoor public green spaces defining a new green spine around which all phases are planned.
The project has brought on urban developer Divercity – known for its work on Jewel City in Johannesburg – with the Moolman Group and Twin City Development also a part of the project.
Divercity said that the housing development will offer 4,100 affordable residential units that are amenity-rich and safe at affordable prices, offering what it said will be “the first truly affordable rental precinct in a premium commercial node”.
“Leveraging its rental housing asset management skill, Divercity will perform the asset management functions for the completed development,” it said.
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