Pretoria to get multi-billion rand property development

By
Font size: Decrease font Enlarge font
Atterbury CEO, Louis van der Watt said they were thrilled to work with the Erasmus Trust for the Pretoria development because the land was held by one family for so long Atterbury CEO, Louis van der Watt said they were thrilled to work with the Erasmus Trust for the Pretoria development because the land was held by one family for so long

While there is buzz around Gauteng’s new mega developments being built at Modderfontein and Steyn City, another multi-billion-rand project is scheduled to take off next year in Pretoria.

Atterbury Property will soon develop an 85ha Pretoria site mooted to be the 'new residential and commercial hub' — located at the high-profile juncture of the N1 and R21 highways.

The planned mixed-use precinct will be modelled on Atterbury’s Waterfall project in Midrand, but on a smaller scale.

Waterfall includes Southern Africa’s largest single-phase shopping centre development, the Mall of Africa, which opens on April 28. Atterbury is the developer and 20% co-owner of the Mall. Attacq Limited holds the commercial development rights to Waterfall and owns 80% of the Mall.

The new precinct will be constructed on a 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 with the Erasmus Trust.

Carl Erasmus said the land, which had played a significant role in the history of Pretoria, had belonged to the Erasmus family for generations, and there had been many prestigious developments on the Waterkloof farm over the years.

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.”

The project is expected to begin early next year and will be developed over 5-7 years, driven by market demand.

The site borders to the N1 and R21 highways, with Solomon Mahlangu Drive at its northern border.

Read more on:

Property Developments in South Africa  |  Pretoria Property Market  |  Atterbury Property Group  |  Waterfall City  |  Steyn City  |  Modderfontein  |  Mall of Africa  |  Attacq Limited  |  Louis van der Watt  |  Carl Erasmus