Newtown's R1.3 billion mall development on track

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Newtown Junction project coincided with the revamp and extension of the Market Theatre precinct and was expected to draw in additional 5000 people and 2500 cars to the central business district. Newtown Junction project coincided with the revamp and extension of the Market Theatre precinct and was expected to draw in additional 5000 people and 2500 cars to the central business district.

Regus

The big hole being dug in Newtown is the start of a R1.3 billion retail and office development incorporating some of Johannesburg's most historic buildings, it was reported on Monday.

Newtown Junction will comprise a 40,000sqm shopping centre, offices of around equal size, a hotel, gym, and four levels of basement parking providing 2,400 bays. All this will integrate with the heritage and artistic attractions of Joburg’s historic Newtown precinct.

Last year, property investment and development company Atterbury broke ground on the exceptional new mixed-use retail and business development in Johannesburg CBD.

The hole was one of the biggest dug in the inner city since the construction of the Carlton Centre.

It was that big to accommodate the underground parking which would be part of the new, Newtown Junction, which was being built among heritage buildings, including the historic potato shed.

The project coincided with the revamp and extension of the Market Theatre precinct and was expected to draw in additional 5000 people and 2500 cars to the central business district.

The centre would be linked to the upgraded theatre precinct, so theatregoers would be able to walk over the railway lines on refurbished original pedestrian bridges to dine and shop after shows.

It would house two major retailers, fashion boutiques and restaurants.

"Newtown has the crown jewels of Joburg with its history and old buildings, many of which have been sadly neglected," said Jeremy Rose of Mashabane Rose Architects.

"Through this new development, we want to combine the old with new, but still holding on the city's memories.

"The new building will be adding to the progress of the city. These historic sites are lying vacant and disused, and our history is going to be lost for ever if something is not done," he said.

The Newton Junction was expected to open in December 2014.

READ MORE ON:

Retail Property Market  |  Johannesburg Property Market  |  Atterbury Property Group  |  Shopping Malls in Johannesburg  |  Newtown Junction  |  Property Developments in Johannesburg  |  Newtown

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