Atterbury is leading the wave of property development and investment in Johannesburg’s Newtown precinct, adding further critical mass to burgeoning attractions and businesses already centred in and around the popular mixed-use Newtown Junction.
Atterbury, the leading South African property investor and developer, is currently building premises for two new motor dealerships – Joburg City Auto BMW and Joburg City Auto Ford. These state-of-the-art motor showrooms and service facilities are being developed on the northern edge of Newtown, across the railway lines from Braamfontein.
The top branded motor dealerships represent the third major tranche of development Atterbury has undertaken in Newtown in recent years. Atterbury is undertaking this project in joint venture with Old Mutual Properties and Stephen Nale Properties.
Atterbury Property development manager Derrick Pautz, says: “We’ve set our sights on transforming Newtown into a hub for innovators, entrepreneurs and residents across the income spectrum. We saw the potential in Newtown when we first began developing Newtown Junction. Now, two years since it opened, we can confirm that the strong demand for great commercial infrastructure in this vibrant and thriving area is everything we believed it to be, and more. Based on the success of our investment and development in the node, we are confident to pursue further opportunities.”
Atterbury developed Newtown Junction mixed-use development, which opened in September 2014 in the heart of Newtown alongside the M1 freeway and next door to the Market Theatre.
The biggest mixed-use development to be built in Joburg CBD since the Carlton Centre, which went up in the 1970s, the 85,000sqm precinct includes a shopping centre featuring an excellent variety of top names in retail and dining. It also includes prime office space for Nedbank, a Planet Fitness gym and generous basement parking. The design destination, Work Shop New Town, in the historical Potato sheds also form part of the enticing retail offering.
Building on this success, Atterbury developed the 148-room City Lodge Hotel Newtown, which opened its first phase in January this year. It is the group’s first hotel in downtown Johannesburg. It is also the first hotel to open in the Joburg CBD in over two decades.
This shows that Newtown Junction has proven to be a catalyst for further investment, development and business confidence in the district, which is experiencing a profound revival.
Now, together with its partners Old Mutual and Stephen Nale, Atterbury is completing its third wave of development in Newtown, which is being built for the Joburg City Auto franchise for around R170-million. This includes two new motor dealerships just opposite the Newtown Junction shopping centre, set against the background of Nelson Mandela Bridge and Old Park Station. They will open on 1 July 2017.
Pautz reports: “This is yet another positive for the Newtown precinct and a boost for the entire city.” Contributing to this are the jobs that Atterbury’s development projects create – nearly 180 jobs are being created during the construction of this project and after the development is complete it will support around 160 jobs permanent jobs.
He adds the Johannesburg Development Agency (JDA), which is spearheading the regeneration of downtown Joburg and surrounding areas, has been a great partner in Atterbury’s development in Newtown.
“The ongoing revitalisation of Newtown is already enhancing people’s experience of the city. It is drawing more people to the area and supporting more opportunities for investment. We are proud to have led this development and continue to see great potential to grow the precinct around Newtown Junction in future. The possibilities are exciting and we would like to work with the JDA and all local stakeholders for possible future developments,” says Pautz.