The R3-billion-plus redevelopment of Barlow Park Precinct, a co-investment between Barloworld, Atterbury Property and African Rainbow Capital, will start in May, Atterbury confirmed in a statement on Thursday.
Each party will hold one-third of the property.
Atterbury is leading all aspects of the development for the joint venture, in conjunction with Barloworld, and will be the asset manager of the completed development.
The project will transform this Sandton Central site from a sprawling corporate park that previously housed Barloworld’s corporate office, logistics and equipment head offices, into a modern mixed-use precinct.
“The project will commence in the second quarter, starting with two months of demolition work before the bulk earthworks begin for the basements,” confirmed Atterbury development manager Derrick Pautz.
He indicated that this would take about six months to complete, following which top structure construction work would begin towards the end of the year.
The new Barlow Park development includes 55 000 m2 of offices, 700 residential units and a 12 000 m2 community retail centre, besides leisure, hospitality and recreational infrastructure.
Located at 180 Katherine street in the financial capital of Sandton Central, the property enjoys a prime position flanked by the M1 highway and the major Katherine street thoroughfare.
It also enjoys good access and visibility on both major arterials and is less than 2 km from both the Grayston avenue and Marlboro drive offramps from the M1.
The site benefits from Sandton’s new road upgrades – for private and public transport vehicles, as well as cyclists and pedestrians – directly around the property.
The development is aimed at responding to tenant and market demand, with the entire project expected to take six to eight years to develop.