First phase of Sandton City’s R1,77 billion refurbishment project commences

Posted On Wednesday, 04 March 2009 02:00 Published by
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Construction on the first phase of the redevelopment and expansion of Sandton City has commenced, marking the beginning of a landmark R1,77 billion refurbishment project recently announced by Liberty Properties Development

Arguably South Africa’s premier shopping centre is set to get bigger, better and brighter with a 30 000m² extension (larger than the entire Sandton Convention Centre) of exceptional shopping, taking the complex to a massive 158 000m² gross lettable area. The first phase of the project also includes a refurbishment of the existing centre, introducing more natural light and internal landscaping with 'green' touches, improved customer flows and access, brighter parking areas, enhanced integration with the Sandton Convention Centre, Nelson Mandela Square and the broader Sandton area.

“We are thrilled that this dream is now becoming a reality. The refurbishment is the first step in a much broader vision for Sandton City and Sandton, which will ensure Sandton City remains in its position as the unrivalled shopping destination for local and international consumers,” says Centre Manager of Sandton City, Sharon Swain.

The project commenced at the beginning of January with the Rivonia Road Parkade closing to make way for the future of shopping, Ample alternative parking is provided in Sandton City’s various parkades which are easily accessible from all surrounding roads:  Rivonia Road (close to Fifth Street), Fifth Street, Alice Lane and Sandton Drive.

Sandton City continues to offer two-hour free parking which is located in a designated roof parking area, accessible from Sandton Drive, behind the Woolworths entrance.

Pedestrians can still enter Sandton City at Entrance 12 (near Edgars) and vehicles will still be able access Tiger Wheel and Tyre as normal, until it relocates to its new premises later this year, which is currently being constructed on the roof level.  The metered taxi rank has been relocated a stone’s throw away from its prior position – less than a minute’s stroll along Rivonia Road in the direction of Fifth Street.

One of the most important elements for the refurbishment team is minimising the impact of construction on the operation of the existing centre and keeping shoppers informed of changes, interruptions and progress on this exciting project, as it happens.

Already bold and informative signage is visible wherever changes are occurring and communication with shoppers will be ongoing, keeping everyone up-to-the-minute with the latest developments in the creation of this bright new shopping experience.

“We would like to thank each of our customers for their understanding and support as we embark on this exciting expansion project for them,” says Swain.

The Sandton City complex is owned by Liberty Group (75%) and Pareto Limited (25%). The centre is managed by Liberty Properties and the development will be managed by Liberty Property Development. Liberty Properties (Pty) Ltd is a division of Liberty Holdings Limited with focus on property development, property management and asset management.   The business services both the Liberty Holdings and has – since late 2007- diversified into servicing third party organisations. Liberty Property Development (Pty) Ltd and Liberty Property Management (Pty) Ltd were established under Liberty Group Properties for this purpose.

Its portfolio, which includes commercial, retail and hotel property – over 1,3 million sqm in size - is in excess of R18 billion of which more than R15.4 billion is directly attributed to Liberty. Ten key investments, which include seven regional shopping centre icons, such as Eastgate Shopping Centre, Greenacres Shopping Centre and the Liberty Midlands Mall in Pietermaritzburg, make up almost 80% of the portfolio by value.


Publisher: eProp
Source: Liberty Properties

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