With the latest petrol price hike placing a further burden on commuters,

Mixed-use developments such as Melrose Arch can alleviate the financial pressure of rising petrol prices on motorist.

The close proximity of all urban necessities in a mixed-use environment provides a superior level of convenience, easily linking people with their living, working, retail and social facilities through pedestrianised areas and public transport systems.

This international ‘high-street’ style of living reduces petrol consumption with the related financial benefits having a positive effect on the motorist and, in the case of petrol price hikes, preventing the diversion of consumer spending power from other goods and services towards fuel.

Mixed-use developments also provide environmental benefits, with decreased fuel consumption and reduced pollution, and important health and social benefits such as reducing time and stress of driving and providing a safe environment.

“The vision for Melrose Arch of commercial, retail and residential space in a single precinct has proved farsighted, resulting in its increasing appeal,” says Nicholas Stopforth, a director of the Melrose Arch Development Company who believes that there is space for more mixed-use developments along the lines of Melrose Arch.

“The new-urbanism trend is certainly growing in popularity and mixed-use precincts meet the needs of those who value time, convenience, safety and the environment while thriving on the vibrant urban energy, providing practical living within a big city,” said Stopforth.

Melrose Arch Development Company is currently realising its roll-out of the remaining phases of Melrose Arch following the successful first phase commercial, residential and retail components. 88,000m2 of mixed-use space is already in use at Melrose Arch, with developments currently in progress having soared to the R1,6 billion mark, covering 135,000m2. This development has been driven by both consumer and business demand. A further 92,000m2 is still available for development.

At present, there are approximately 4,500 people living and working in Melrose Arch. By 2010, when all phases of the precinct are scheduled for completion, it is estimated that this will increase to more than 22,000.

Stopforth emphasises that while individuals are embracing the concept of mixed-use developments for practical benefits such as the hefty rise in petrol costs, developers and banks need to be more aware of this style of ‘city-within-a-city’ living.

“The supreme convenience in the mixed-use precinct of Melrose Arch together with its social interaction, exceptional infrastructure, ample secure parking, safe environment and ease of accessibility create a complete lifestyle within an exciting urban context” says Stopforth

Melrose Arch is owned by Southern Palace, a Property Partners and Amdec Property Developments joint venture.  Southern Palace purchased Johannesburg’s Melrose Arch precinct for R1,27 billion in December 2004. In April 2005 the owners announced its roll-out strategy through Melrose Arch Development Company.

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Issued on behalf of Melrose Arch Development Company
Nicholas Stopforth
T      011  684 1655
C.     073 235 1864