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PROPERTY
Twenty years after its founding,
Atterbury, the driving force be-
hind a growing number of SA’s
landmark commercial property
developments, continues to build quality
properties and deliver performance for
its investors.
Atterbury’s business is conducted
through two main companies: Atterbury
Property
Holdings
for
developments
and, for investment, Attacq Limited, which
successfully listed on the JSE in October
2013. Atterbury now comprises about
58 trading companies.
Together Atterbury and
Attacq have over 150
employees and offices
in Pretoria, Johannes-
burg and Mauritius.
However, Atter-
bury was not always the property power-
house it is today. It has grown from humble
roots. Louis van der Watt and Francois van
Niekerk formed Atterbury in 1994, at the
same time that SA’s democracy was born.
Van der Watt is a natural entrepreneur.
His first property transaction was at the
tender age of 11.
From a young age, he was fascinated
by buildings – their design and location. He
met Francois van Niekerk as an article clerk
for Deloitte at Van Niekerk’s computer
business, Infotech. The latter had recently
developed his first building and had more
land available.
Humble beginnings
When completing his articles in 1994, Van
der Watt joined Van Niekerk to form Atter-
bury Property Group with capital well below
R1-million. For five years they were Atter-
bury’s only employees.
The founders each held a 33% share
Says Rubidge: “With a population of
around 500 000 people, Mthatha is
undergoing a construction boom
visible everywhere you go, from the upgrading
of airports to the building of roads, bridges and
at least three new shopping malls. There is
excitement in town, with the new and biggest
shopping mall Mthatha has ever seen currently
underway.” Ninety percent of construction
work on the BT Ngebs Mall is completed, with
the mall scheduled to open its doors in April
2015. Comprising 58 808 m
2
, the mall will
have 1 975 parking bays and will service about
390 000 households. It will be the largest shop-
ping centre in the Mthatha region, which has a
retail undersupply of 477 341 m
2
,” says Rubidge.
“In 2013 the government earmarked
R5-billion to rehabilitate the city’s infrastruc-
ture over a 20 year period. Projects include
a runway completed four months ago at the
Mthatha airport, while a new terminal building
is underway. A two-lane bridge opened in
CONSTRUCTION BOOM IN MTHATHA
Established in 1883, Mthatha, the capital of the former Transkei,
is a hive of bustling activity and recognised as the leading city of
the area. Situated on the N2, almost midway between Durban and
East London, this colourful and lively city is the gateway to the area
and the world-famous Wild Coast, with regular flights to and from
Johannesburg, says Wayne Rubidge, Pam Golding Properties area
principal in the Mthatha area and North Eastern Cape.
November 2014 to ease traffic congestion
around the city and streets are being upgraded
with robots. Also included in these projects
is the new 60 bed Mthatha Hospital which
recently opened.”
Mthatha has a variety of large suburbs, with
the more affluent being Hillcrest, Southern-
wood and Northcrest, where properties sell for
anything between R1-million and R2-million,
with vacant stands selling between R200 000
and R250 000. In more affordable areas like
Ncambedlana and Mbuqu, residential proper-
ties sell for between R400 000 and R650 000.
It is appropriate that Pam Golding Proper-
ties has established a presence in Mthatha, as
founder and life president Pam Golding was
born and schooled there, in later life being
awarded an honorary doctorate from theWalter
Sisulu University.
Says Zuki Khumalo, PamGolding Properties
resident agent in Mthatha: “We are still expe-
riencing huge stock shortages and that has
really pushed up prices, particularly in popular
>
of great business
20 YEARS
One of South Africa’s most esteemed property businesses, the Atterbury Group, celebrates
20 years of successful operation at the same time as the country marks two decades of
democracy in South Africa.
Atterbury’s new head office building called Bloukrans,
located at the landmark Lynnwood Bridge precinct,
developed by Atterbury in Pretoria.
Louis van der Watt, CEO of the Atterbury Group, a
company he formed with Francois van Niekerk back in
1994. Today Atterbury is one of South Africa’s foremost
property businesses.
12
CONSTRUCTION WORLD
FEBRUARY
2015