Name and Location
Loftus Park mixed-use development project, Gauteng, South Africa.
Client
The project is a 50:50 joint venture between Abland and Pivotal Property Fund.
Project Description
The development comprises a planned 55 000 m² mixed-use development, with the first phase comprising 34 600 m² and 1 800 parking bays and the second phase 20 000 m² and 600 parking bays.
The first phase includes 16 000 m² of offices, 8 400 m² of retail, a 6 700 m² hotel and a 3 500 m² gymnasium.
Value
The project is valued at R1.45-billion.
Duration
The various phases of development are expected to be rolled out over a three- to four-year period.
Latest Developments
Wilson Bayley Holmes Ovcon (WBHO) has been awarded a R750-million contract for the construction of the first phase of the project.
The sod-turning ceremony took place in September, when the site was handed to Abland’s earthworks contractors for the excavation of the super basements.
These excavations have now been completed.
Key Contracts and Suppliers
WBHO (construction contract – Phase 1).
On Budget and on Time?
Not stated.
Contact Details for Project Information
Abland, tel +27 11 510 9999 or fax +27 11 510 9990
Pivotal Property, tel +27 11 510 9999.
WBHO, tel +27 11 321 7200, fax +27 11 887 4364 or email wbho@wbho.co.za.