Property groups Attacq and Atterbury Property Holdings will soft launch the R1.3-billion Newtown Junction mixed-use development, in the central business district’s (CBD’s) historic arts and entertainment precinct.
Part of an ambitious inner-city rejuvenation programme, the 90,000-m2 development, located in the heart of Newtown and flanked by the Market Theatre and the M1 highway, it would include a 38,000 m2 shopping centre, some 39,000 m2 of prime office space, a gym, as well as basement parking for 2,400 vehicles.
Construction of a 148-room City Lodge hotel will be complete by the end of 2015.
“Although not confirmed, it is believed that Newtown Junction is the biggest private development in the Johannesburg CBD since the Carlton Centre was constructed in the 70’s.
“As the owner of the land on which the development is taking place, the Johannesburg city council has played a big role, ensuring that the project is completed successfully and that the economic targets of the city are met,” commented Attacq CEO Morne Wilken.
He said that the bulk of the office component was on track to achieve a 4-Star Green Star South Africa rating and would be occupied by Nedbank.
Atterbury Property Developments (APD) MD James Ehlers added that the development was anchored by its prominent retail component, complemented by office space, the gym and the hotel.
It has retained some of the older, existing structures, incorporating them into the design of the new retail area.
“The 100-year-old ‘potato shed’ was taken off site when Newtown Junction’s multilevel basement was being built and was, thereafter, replaced in the exact position,” Ehlers said.
The development created around 2,700 jobs during construction and was expected to support the employment of some 4,800 once fully operational.
Construction group Wilson Bayly Holmes-Ovcon was the primary contractor for the development, which was designed by architectural firm Mashabane Rose.
Photo: Duane Daws
By: Natalie Greve