Construction begins on R6bn Castle Gate precinct in Pretori
Development of the first phase of the multi-billion-rand Castle Gate mixed-use precinct in Pretoria is under way. Castle Gate will comprise 100,000m2 of office space, 40,000m2 of specialist medical facilities, and a hotel as well as 1,100 residential units, and a 23,000m2 convenience retail centre.
Castle Gate is being co-developed by Atterbury Property Fund (APF) and The Carl Erasmus Trust. APF is co-owned by property developer and investor Atterbury, its management and founders, as well as Talis Investment Partners. Upon completion, the Castle Gate project is expected to represent a total investment of R6bn and 20,000 permanent jobs will have been created as a result of its development.
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The Castle Gate Lifestyle Centre will open in September 2020 and will include retail, medical consulting rooms, offices and a gym. It is designed with a farmhouse feel that is rustic yet industrial and includes a focus on outdoor green areas. In harmony with the environment, eco-friendly building designs are being put forward wherever possible and most, if not all, of the buildings in the precinct are expected to include solar energy generation.
Castle Gate is adjacent to the N1 and will be accessible from Solomon Mahlangu Drive, which is already in the process of being widened and upgraded as part of the development. The second phase of the Castle Gate project road upgrades includes building a new highway bridge across the N1, which will make it possible to introduce double lanes in both directions on Solomon Mahlangu Drive, between Castle Gate and Hoërskool Waterkloof.
The entire precinct is expected to be developed over the next decade and the second phase of Castle Gate is planned to begin in mid-2020.
Source: https://www.bizcommunity.com/Article/196/757/196370.html & http://www.sacommercialpropnews.co.za