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News article

Construction on mixed-use project Loftus Park in Pretoria nears completion

Published: 27 March 2018

Johannesburg, South Africa – 14 March 2018: The first phase of Loftus Park, a new mixed-use precinct currently being developed by JSE-listed diversified Real Estate Investment Trust (REIT) Redefine Properties’ (JSE: RDF) together with Abland, one of South Africa’s top property development companies is nearing completion. Phase One includes approximately 34 000 m 2 of A-grade office space, a premium gym, open air piazza with restaurants and a convenience retail offering. A new 152 room hotel by Marriott will also
debut at the site.

Located within walking distance from the University of Pretoria and the Pretoria Boys & Girls High Schools, the newly development precinct provides an integrated work and play environment in what will be a market defining mixed use concept.

The retail component will be anchored by well-known brands like Checkers and Dis-Chem amongst others while Virgin Active will open a premium level health club at Loftus Park.

The precinct lies within shadow’s length of the iconic Loftus Versfeld stadium, is centrally located, enjoys good access and is in the epicentre of Pretoria’s key suburb, Arcadia. With the Gautrain bus stop adjacent to the precinct, Loftus Park connects seamlessly to Centurion, Sandton, Rosebank and OR Tambo International Airport via Hatfield. 

“The precinct reflects our proven track record of creating bespoke communities that focus on connectivity, walkability and green spaces. Our investment in enhancing access to the Gautrain network was the final piece of puzzle that is going to unlock the true potential of the development,” says Pieter Strydom, Commercial Asset Manager, Redefine Properties.

The precinct will be accredited as a 4-Star Green Star Building.

“Abland worked closely with Redefine Properties to bring this unique development to life and will set a new standard for quality mixed use precincts in the node,” says Grant Silverman, Marketing Director, Abland.

Loftus Park also enjoys excellent proximity to a vast number of embassies, the Union Buildings and museums. Phase Two, which will add another 7 600 m 2 to the development will see the inclusion of a hospital on the precinct’s footprint as well as 13 000 m 2 of office space in Phase Three. “Loftus Park offers tenants a unique work and play environment, a one stop avenue from convenience shopping to schooling as well as hosting unparalleled on-site amenities. The mixed-use precinct is ideally located to ignite the greater node around it,” adds Strydom.

“The proximity of the precinct to the stadium will also energise retail and restaurants on game days as well as provide additional parking.”  “The precinct is a rare opportunity for tenants to acquire office space in one of Pretoria’s upcoming nodes. We are seeing robust interest given the attractive dynamics of Loftus Park and corporates can benefit from the unrivalled amenities including excellent linkages via the Gautrain feeder bus,” says Strydom in conclusion.
 
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