Atterbury launches R25bn Waterfall Business Estate
Category Property Fund News
Atterbury Property Group on Wednesday launched its Waterfall Business Estate - the 1.6 million square metre mixed-use commercial development.
Atterbury Property Group CEO Louis van der Watt said: "The opportunity to develop this mixed-use commercial precinct in the heart of the fastest growing metropolis on the African continent is an extraordinary legacy."
The development of the estate will be market-driven, and rollout over the next 14 years will be valued well over R25 billion.
Atterbury Investment Holdings (AIH) is the major investor in Waterfall Business Estate, with an 80% stake.
"This development is expected to contribute positively to AIH's growth and performance in the coming decade and beyond," said Morne Wilken, CEO of AIH.
Waterfall spans land on both sides of the N1 highway, from the Woodmead interchange through the Buccleuch interchange to Allandale interchange.
It joins Modderfontein in the east and reaches beyond Kyalami in the west. It enjoys access from Pretoria, Sandton and Johannesburg.
Atterbury Property Development secured the commercial development rights for this prime 330 hectares site north of Sandton in 2008 with the Waterfall Islamic Institute, which has owned this land since 1934.
Atterbury Property developments director Coenie Bezuidenhout explained that over the past three years, Waterfall Business Estate had been meticulously planned to position commercial properties for peak functionality, access and visibility.
Comprised of nearly a dozen specialist pockets, the estate will span various commercial uses: office, retail, light industrial, distribution, warehousing and showrooms.
Author: Warehouse Finder
