rezoned land

During recent recessionary years, and in keeping with the reduction of demand, the traditional lending institutions have, to a large extent, precluded the funding of new development projects. The perceived positive rebound of world economies in the medium term will bring increased demand and result in a shortage of stock in all property sectors, namely in industrial and retail, but also in the commercial office sector.

The recent successful launch of the Gautrain project and associated Bus Rapid Transport route, which operates an efficient arterial alternative between Gautrain stations and main arterial routes, is certain to create a positive demand for mixed-use developments, i.e. "live, work, play – and shop," in these key nodes.

The Melrose Arch project, being the first node to pioneer this multi-use "city within a city" project concept, has proven its success and sustainability with the major portion of the total approved bulk area of 360 000m2 having already been developed. Confirming this concept model, Century City has proven its appeal. The recent review of its new cutting-edge Crystal Towers Hotel & Spa, adjacent to the giant Canal Walk shopping centre, bears witness to the demand of this holistic lifestyle model. Some 36 000 people work and/or live in the precinct.

It is for these reasons that Cadogan Hall has earmarked certain key development nodes where rezoning is in progress and, in some cases, almost complete.

In so doing, we have been successful in negotiating the sale to Old Mutual of a 120 000m2 development site directly adjacent to the Sandton Gautrain station, for the development of its Gauteng Head Office. The site will accommodate further retail, commercial office and hotel development for inclusion in its property investment portfolio.

Currently under negotiation is a strategic North Eastern Gauteng site, allowing for up to 700 000m2 of mixed-use development.