Atterbury was proud to be awarded the contract to develop Barlow Park, a new mixed-use development for Barloworld, on a magnificently situated site in the bustling hub of Sandton. We got the lowdown from Derrick Pautz.
How did the Barloworld deal come about, and what are the roles of the different partners in the venture?
Barloworld Limited requested development proposals for the property on which their current company headquarters are located via a request for proposal (RFP) last June. Atterbury was one of the respondents to the RFP along with its chosen development and investment partner African Rainbow Capital (ARC). Atterbury will fulfil the development management and implementation roles of the partnership, with ARC providing funding and capital support. Barloworld has also indicated their intention to remain involved in the redevelopment of Barlow Park as a partner.
Where exactly is the site?
The site is located at 180 Katherine Street, adjacent to the M1 Freeway. The site boasts great exposure for potential tenants due to its location and visibility from the M1, Grayston Drive and Katherine Street.
What is currently on there – it is surprising to learn that there is still undeveloped land left in Sandton, which is such a hive of construction. What is the history of the site?
The site has several office buildings on it which serve as the Barloworld company headquarters, housing the corporate office, Barloworld Equipment and Barloworld Logistics. Barloworld has owned the property since 1978.
How will people access the site – is there any infrastructure that needs to be added?
There are two existing access points to the site off Katherine Street. These will be retained and upgraded to cater for the future traffic resulting from the development. There will also be upgrades to other external roads in the area. The details of these are still to be agreed with The City of Johannesburg.
In terms of size, what does it compare to that Atterbury has developed before?
Barlow Park is a large mixed-use development, and although larger, is comparable to Lynnwood Bridge and The Club in Pretoria as well as Precinct 14 in Randburg.
Is there any element to this development that is new to Atterbury? This is the first development in Sandton, is it not?
Indeed, it is Atterbury’s first development in Sandton and we are excited to have such a prominent site available for the market.
What is the development timeline, and what is the next step from now?
We are currently busy with the town-planning phase of the project and hope to commence with top-structure construction in early 2019.
Barlow Park in numbers:
|8||number of years for the rollout|
|10 000 sqm||retail and gym|
|10 000 sqm||dealerships|
|55 000 sqm||residential|
|55 000 sqm||offices|
|130 000 sqm||total size of the development|
|R2.7 billion||total value|