The project is a collaboration of three leading South African businesses; 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.
Property investor and developer Atterbury, which is leading all aspects of the development for the joint venture, in conjunction with Barloworld, and will be asset manager of the completed development, has confirmed that work will begin on the site by May this year.
“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.
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. It has excellent access and superb 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 roll-out of the Barlow Park development will respond to tenant and market demand, with the entire 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.”