Atterbury Property Development and JSE-listed Attacq have launched the 800 000 m2 mixed-use Waterfall City, marking the next phase of ambitious commercial development at the six-million square metre mixed-use Waterfall Business Estate, in Gauteng.
The 330 ha Waterfall City would, once complete, offer retail, office and residential space, as well as hotels, a hospital and several parks.
Currently under construction at the nucleus of Waterfall City was the R3.5-billion super-regional Mall of Africa which, at 120 000 m2, would be South Africa’s largest single-phase shopping mall development, once it began trading in April 2016.
Meanwhile, Waterfall City Netcare Hospital was already fully operational, while the 4 100 m2 150-bed City Lodge Hotel would open in November.
Atterbury said on Thursday that it also had the rights to develop 1 200 urban residential units in Waterfall City.
In addition to premium-grade corporate offices, the development would accommodate tenant-driven low-density office developments, including the Maxwell Office Park, as well as motor dealerships and other businesses.
“Waterfall City is a unique proposition. Not only does it offer a vibrant mixed-use environment and convenient contemporary lifestyle, but it also has a great location and is more affordable than other main nodes, such as Sandton and Rosebank,” commented Atterbury MD James Ehlers.
He said the company would later this month begin construction on 7 000 m2 corporate offices at Waterfall City for pharmaceutical firm Novartis, while it had already started work on offices for medical technology developer Dräger, Angle Shack, communications firm Westcon and foodstuff producer Premier Foods.
“Thus far, our four large projects completed in Waterfall Business Estate have been the 44 200 m2 Cell C campus, the 26 286 m2 MBT Technologies premises, the 23 139 m2 Group 5 head office and the 6 198 m2 Golder & Associates head office,” said Ehlers.