“We’re thrilled to announce the first two developments at Richmond Park will be for CTM and Cape Fruit Coolers. These deals have triggered the start of the internal services installation and allowed us to appoint Burger and Wallace as the contractor for this portion of the work in Richmond Park,” says Gerrit van den Berg, who heads Atterbury’s Western Cape operations.
Richmond Park is a multibillion rand mixed-use property development in Milnerton, Cape Town, by major shareholder Atterbury, a South African property investor and developer, and partners the Richmond Park Communal Property Association (CPA), Qubic 3 Dimensional Property and Bethel Property.
Richmond Park’s 300,000m2 of greenfields development rights are on an 84ha site that is part of the land restitution settlement.
The land is owned by the Richmond Park Community who were forcibly removed from it between 1972 and 1984. In 2014, the land transferred back to the community, some 401 families representing 5,300 people spanning five generations. The Richmond Park Community leased the land to the Richmond Park Development Company and has a 25% shareholding in the development company.
“It has been an eight-year journey since winning the tender, and we are delighted that development at Richmond Park is entering its next phase and this vision is becoming a reality,” says van den Berg. “The project has enjoyed tremendous support at metropolitan and provincial level and, of course, from the CPA. Together we have worked tirelessly for this ambitious project to take shape.”
Cape Fruit Coolers’ site spans 3,5ha on which a 17,000m2 facility will be developed in phases, to expand its business. CTM has acquired 9,500m2 of land at Richmond Park, including a new 5,000m2 retail and distribution centre.
The preparation of both sites began on 1 August for completion March 2017. The top structures are expected to be complete by November 2017 and May 2018 respectively.
