Positive business associations drive property investment in Western Cape

In the heart of South Africa’s Western Cape, a synergy of innovation and investment is taking place, led by the forward-thinking initiatives of Atterbury Property and Old Mutual Property, in association with the City of Cape Town under the visionary leadership of Alderman James Vos, Mayoral Committee Member for Economic Growth. This article delves into why Atterbury Property is committed to investing in the Western Cape, focusing on the transformative developments at Richmond Park, Milnerton.

Presently one of the prominent projects at the forefront of Atterbury Property’s ventures in the Western Cape is the development of the sustainable technology company Solar MD’s innovative new facility at Richmond Park with a total size of 12 500sqm. This noteworthy project epitomises the successful relationship between Atterbury Property and the City of Cape Town, underpinned by its Invest Cape Town initiative. Alderman James Vos, instrumental in fostering a business-friendly environment in Cape Town, remarks: “Developers such as Atterbury Property are landing in Cape Town because they know it has the skill, talented workforce and infrastructure to meet their clients’ demands.”

Richmond Park’s story is itself one of hope and restitution. Once the site of forced removals under the Group Areas Act, it now stands as a symbol of progress and reconciliation. The Richmond Park Communal Property Association, along with Atterbury Property, Old Mutual Property, Atlantis Partners, Bethel Property and Qubic, continues its successful transformation of this historic land into a 300 000sqm mixed-use commercial precinct.

Completed developments in the ideally located Richmond Park precinct include, inter alia, the retail shopping centre Richmond Corner, a distribution facility for logistics and transportation solutions company Aramex, a specialised cold storage facility for Cape Fruit Coolers, a head office, warehouse and showroom for sustainable technology company Rubicon, a significant distribution centre and pickup point for Takealot, South Africa’s largest online retailer, and sizable outlets for WeBuyCars and Brights Hardware.

But what makes the City of Cape Town such an attractive property development destination? Van den Berg explains the city makes sure they promote investment in a business-friendly manner, including faster turnaround of regulatory approvals and in general through facilitating efficient bureaucracy to alleviate possible hold-ups: “The City of Cape Town is a fantastic place to invest and we invite people from all over the world to also invest here, because it’s energising to know your investments are wanted here.”

The positive association between Atterbury Property and the City of Cape Town is an example of how public-private cooperation can lead to mutually beneficial outcomes. The investments made by Atterbury Property, Old Mutual Property and its clients are not just financial; they are investments in the people and the future of the Western Cape. As Alderman Vos aptly puts it: “The success of these developments is a clear indicator of the potential that lies within Cape Town and the Western Cape. We are proud to work alongside Atterbury Property in making our city a hub for business, innovation and growth.”