Randburg Waterfront set to lose its lake

Posted On Monday, 12 August 2002 10:01 Published by
Rate this item
(0 votes)
Plans for the development's R80m revamp include creating a village feel and turning it into a family entertainment centre
Johannesburg's newest artificial lake is to disappear as the struggling Randburg Waterfront development goes through an R80m refurbishment programme seven years after its launch.

Up to 80% of the space occupied by the 2,8ha lake will be filled, reducing the area under water to 6000m². A large portion of the filled area will be turned into rentable space and another portion used to create an open green space, and the development will change its name.

A consortium of consultants handling the refurbishment says the main thrust of this process is to create a new image for the development, which has attracted a less savoury element among its clientele than the developers envisaged. This points to severe problems experienced by the development, which has vacancies of up to 17%. The consortium includes marketing consultants Zenzes, BFH Project Managers and Land Mark Studios.

BFH MD Barry Freeman says the redesign was made necessary by the rapid evolution of the Randburg Waterfront's environment. It is intended to create a village feel for the development, transforming it into a family entertainment centre.

'We hope to bring in a human vibe, which is currently lacking,' says Freeman.

Salient features in the redesign include shifting the market to the centre of the development, creating an open green space, enhancing the look of the eastern entrances and creating new ones.

The area now occupied by the market has been allocated for a homeware centre anchored by Mr Price. The plan also features a volley ball court for sponsored sports. The central area will have 3000m² of lawn suitable for concerts and picnics. Colourful canopies will be put up in front of existing shops.

The bridge linking the two sides of the development obscures the view, so it will have to go, the consultants say.

John Rainier, MD of Randburg Waterfront owner Grayprop, says that when the development was conceived, the emphasis was on food and entertainment.

However, competition in this market has grown dramatically, and Grayprop now intends to focus on traditional retail and lifestyle shopping, with less reliance on entertainment.

The refurbishment proposal is subject to zoning and leasing requirements.

Consultants expect the process to start in the next three months.

Business Day

Publisher: Business Day
Source: Business Day

Most Popular

Residential property market gathering momentum, says Eazi Real Estate

Nov 18, 2020
In this last quarter concluding in December 2020, the residential property market…

Lockdown impacts buying trends of generations of home buyers

Nov 15, 2020
The Covid-19 pandemic and lockdown has been a catalyst for highlighting the different…

Second-hand shopping is being revolutionised and expanding the circular economy

Nov 18, 2020
EPP CEO_Tomasz Trzoslo
Conscious consumers are championing the resale of goods to reduce waste and extend the…

SA commercial real estate delivers in excess of 12% yield on equity

Nov 18, 2020
Steven_Brown (1)
A silver lining amongst the many dark clouds dominating South Africa’s current economy…

New cutting-edge Massmart Distribution centre launches one of the biggest Distribution Centre in the Western Cape

Nov 24, 2020
MASSMART’S brand-new, cutting-edge centralised distribution centre for the Western Cape…

Please publish modules in offcanvas position.