20 / 72
18
CONSTRUCTION WORLD
JUNE
2016
New
MIXED-USE
development
PROPERTY
Atterbury’s latest venture will be
a modern, mixed-use commercial
development on about 85 ha of
prime land, at the high-profile
juncture of the N1 and R21 highways.
The development will be similar to Atter-
bury’s staggering development Waterfall in
Midrand, albeit on a different scale. Waterfall
includes Southern Africa’s largest single-
phase shopping centre development, Mall
of Africa, which opened on 28 April. Atter-
bury is the developer and 20% co-owner of
Mall of Africa.
The new Pretoria mixed-use precinct will
be constructed on the landmark property
belonging to the Erasmus family on the last
portion of the original Waterkloof farm in
Pretoria. It will be developed by Atterbury in
a joint venture the Erasmus Trust.
Carl Erasmus explains the land, which
has played a significant role in the history of
Pretoria, has belonged to the Erasmus family
for generations and many prestigious devel-
opments have taken place on the Waterkloof
farm over the years.
Erasmus says: “Despite receiving many
and generous approaches to buy the land
over the years, we turned them all down in
favour of working with Atterbury to realise the
vision for this land.”
Louis van der Watt, CEO of Atterbury says:
“We’re thrilled to work with the Erasmus Trust
for this landmark development. Because
this land was held by one family for so long,
its unique size and leading location present
an exciting opportunity to develop a unique
mixed-use infill development that creates
meaningful value.”
Atterbury has a unique understanding of
this type of greenfields development at which
it excels. Besides its groundbreaking devel-
opment at Waterfall adjacent to the Allandale
Road exit of the N1 Highway, Atterbury also
developed the 75 000 m
2
Lynnwood Bridge
mixed-use commercial precinct in Pretoria,
directly adjacent to the Lynnwood Road exit
of the N1 Highway. With these develop-
ments, and many others across South Africa
and beyond its borders, Atterbury has estab-
lished a track record of delivering what it sets
out to do.
James Ehlers, MD of Atterbury Property
Developments, says: “Atterbury is confident
about South Africa and remains positive
to invest in quality developments. We’re
committed to and excited about the work we
do and look forward to once again creating
value from the ground up.”
Ehlers stresses the Erasmus land is ideal
for a development similar to Waterfall and
Lynnwood Bridge.
“Through our involvement in these iconic
projects, Atterbury has established skills
across the board. We have built up a top
team of people with the experience and
expertise to create quality, modern mixed-use
nodes, from developing their infrastructure
and top structure to the different uses of
property for retail, office, commercial and
residential uses.”
Atterbury expects to begin development
of the Erasmus land early next year. “While
the rezoning process for the land is still being
finalised, we envisage the development to
include specialised retail, a significant resi-
dential component, a good balance of offices
and some logistics warehouses that take
the best advantage of the excellent highway
frontage,” says Ehlers.
The Erasmus land enjoys a prime site
bordering to the N1 and R21 highways, with
Solomon Mahlangu Drive at its northern
border. It provides easy access to Johannes-
burg, Pretoria, Pretoria East and OR Tambo
International Airport.
In addition, as part of the development,
Atterbury is also considering investing in
roads and other infrastructure to benefit the
area. Once re-zoning is confirmed, the new
development will be meticulously planned to
position commercial properties for peak func-
tionality, access and visibility. Equal attention
will be given to the residential units, which
Atterbury intends to undertake in partnership
with a specialist residential developer.
The project will be developed out over
five to seven years, driven by market demand.
Already, Ehlers confirms, the demand is
strong. “We are talking to specific retailers
who want to be part of this development and
there is a huge demand for housing in the
area,” says Ehlers.
“We expect different facets of the project
to be constructed simultaneously, which will
result in a bustling construction site, similar
to what you see at Waterfall right now.”
Leading South African property
developer and investor Atterbury
recently announced it will
undertake a prime new multibillion-
rand development in Pretoria.
>
Louis van der Watt, CEO of Atterbury and Carl Erasmus.
The location of Atterbury mixed-use development.