R170-m Newtown development set to open in July 2017
Engineering News – Property investor and developer Atterbury is building premises for two new motor dealerships in the Johannesburg city basin – Joburg City Auto BMW and Joburg City Auto Ford. Set to open on July 1, 2017, they are being developed on the northern edge of Newtown, across the railway lines from Braamfontein. This R170-million development, built for the Joburg City Auto franchise, represents the third major tranche of development Atterbury has undertaken in Newtown in recent years.Atterbury is undertaking this project in joint venture with Old Mutual Properties and Stephen Nale Properties. Nearly 180 jobs are being created during the construction of this project, which will support 160 permanent jobs.
“We have set our sights on transforming Newtown into a hub for innovators, entrepreneurs and residents across the income spectrum,” says AtterburyProperty development manager Derrick Pautz. “We saw the potential in Newtown when we first began developing Newtown Junction. Now, two years since it opened, we can confirm that the strong demand for great commercial infrastructure in this vibrant and thriving area is everything we believed it to be, and more.
Atterbury developed the Newtown Junction mixed-use development, which opened in September 2014, in the heart of Newtown alongside the M1 freeway and next door to the Market Theatre. Atterbury has developed the 148-room City Lodge HotelNewtown, which opened its first phase in January this year. It is the group’s first hotel in downtown Johannesburg. It is also the first hotel to open in the Johannesburg CBD in over two decades.