Views of the R1.4 billion Newtown Junction mixed-use shopping, leisure and office development in the trendy Newtown precinct in Joburg CBD, developed by Atterbury Property Developments.
Shoppers, office workers and residents in the Joburg CBD now have a world-class retail and leisure destination right on their doorstep with the opening of the landmark R1.4 billion Newtown Junction mixed-use shopping, leisure and office development in the trendy Newtown precinct.
The first stores have opened within the 38000m² retail component of Newtown Junction – an 85000m² mixed-use project developed by Atterbury Property Developments (APD) for Atterbury Property Holdings and JSE-listed Attacq Limited. Other key components include some 39000m² of prime office space, basement parking for 2400 cars and a new City Lodge Hotel, which is under development.
Newtown Junction had a “soft opening” on September 25, which was timed ahead of an exciting line-up of events such as the Absa Joburg City Festival and Vodacom In The City. The festivals, hosted in partnership with the Joburg city council, major sponsors and other stakeholders, brought throngs of visitors and shoppers to Newtown Junction between 2-5 October.
“We opened Newtown Junction at the end of September to be ready ahead of the festival events. As one of the associate sponsors of the Absa Joburg City Festival, Newtown Junction was one of the anchor venues of this exciting event, which saw a number of public performances by various artists. Vodacom In The City – a rock, indie and electro music festival held on October 3 – was another attraction,” says Atterbury Property’s Zahn Hulme.
“Being part of such initiatives highlights Atterbury’s commitment to the success of the Newtown node and urban regeneration within the Joburg CBD. Our commitment goes beyond our major, R1.4 billion investment into the Newtown Junction development. In addition to supporting events, we are also leading the effort towards the establishment of a fully-fledged City Improvement District (CID) in the Newtown precinct,” she adds.
The CID is part of ensuring the success of the Newtown precinct and Newtown Junction as a safe, clean and hip and happening destination in the CBD. As part of the CID, building owners and businesses will contribute towards a levy for the upkeep and security in Newtown, which is in addition to their normal municipal rates.
“As one of the biggest private sector investments and developments in the Joburg CBD, we are extremely proud of the Newtown Junction project. It will take the historic Newtown precinct to another level as a cultural, shopping and entertainment hub not only for people living and working in the CBD, but visitors and tourists to the city,” comments Hulme.
Already more than 40 retail stores and outlets have opened at Newtown Junction including the likes of Pick n Pay, Shoprite, Edgars, Truworths, the Foschini Group stores, Mr Price, Clicks, Levingers, major banks, as well as cellular and jewellery stores. A further 18 outlets will open by November 1, including the Ster Kinekor cinema complex, Hifi Corporation, the Planet Fitness gym, a medical centre and several eateries and restaurants.
By December, when Newtown Junction will have its VIP official launch, the mall will have more than 70 outlets open, just in time for the festive season.
“Over 84% of the retail space in the mall has been leased. We are confident that once all the food outlets, cinema complex and destination stores are opened, Newtown Junction will attract even more shoppers and visitors,” says Hulme.
Nedbank – the major tenant within the office component at Newtown Junction – will also be launching its Newtown Campus. This office building is on track to achieve a 4 Green Star SA rating from the Green Building Council of South Africa.
Wiehan Strydom, Atterbury’s project manager on Newtown Junction, comments: “Newtown Junction’s location, next to the Market Theatre in the Joburg CBD’s heritage-rich Newtown precinct, makes it one of the most exciting and groundbreaking developments in the city. Six years in the making and at a cost of approximately R1.4 billion, Newtown Junction will serve a vital sector of our vibrant society in this cultural node within “old” Joburg.”
Strydom adds: “Newtown Junction’s development has to date created around 2700 jobs during construction, of which 850 were jobs for local unemployed people. It is estimated that there will be around 4800 people working in Newtown Junction when fully operational on the retail, office and hotel components. Atterbury develops world-class property developments. In 2014 alone, we will have opened eight shopping malls in South Africa, Ghana and Namibia. Construction is also well underway on the Mall of Africa, the largest shopping centre development to be constructed in a single phase in SA and due to open in April 2016.”