The bustling space adjacent to the Blue Bulls rugby team’s home ground of Loftus Versfeld Stadium in Arcadia will undergo a facelift – as will the surrounding residential area – in the form of a mixed-use development. Named Loftus Park, it’s co-owned in equal shares by real estate company Pivotal Property Fund and property developer Abland.
“We are very excited about this unique development, and believe we’ve raised the bar with an exceptional mixed-use concept located in the heart of one of our country’s richest historical rugby institutions,” says Jackie van Niekerk, CEO: Pivotal.
story_article_left1
“Loftus Park provides us with a location in proximity to the Union Buildings, embassies, the University of Pretoria and various prestigious schools and hospitals,” says Van Niekerk.
The development will comprise A-grade and premium-grade commercial office space, a public exhibition centre, a destination retail component, and a Virgin Active gym, as well as several restaurants surrounding an open-air piazza. In addition, Loftus Park will host a sport rehabilitation centre with doctors and specialists to compliment the sport culture within the area.
Phase two of the development will likely include a hotel that is currently being negotiated with an international brand. Phase three adds an upmarket residential area, aimed at embassy staff. Tshwane is home to the largest array of embassies in the world, outside of Washington DC, and Loftus Park is situated within this embassy precinct.
Additional interest is expected from young professors, post-graduate students from the University of Pretoria (a few kilometres from the park), and business people who work in town and wish to avoid dealing with traffic.
Abland director Thinus Delport says the development is due to open in June 2017. Because of its location, Loftus Park is accessible from all major transportation routes in Gauteng. It is situated close to Hatfield Gautrain station and is also on the A Re Yeng (Tshwane’s Bus Rapid Transit service) bus route.
Loftus Park will provide 8,600 jobs during construction and a further 5,400 full-time new jobs after completion, and will add in excess of R30m per annum to the City of Tshwane’s rates base.
This article was originally published in Sunday Times Neighbourhood: Property & lifestyle guides. Visit yourneighbourhood.co.za, like YourNeighbourhoodZA on Facebook and follow YourHoodZA on Twitter.
Just R20 for the first month. Support independent journalism by subscribing to our digital news package. 