Big upgrades for R3 billion lifestyle estate in the richest area in South Africa
The second phase of the R3 billion Barlow Park in Sandton, Johannesburg, is on track for completion by the middle of next year.
The mixed-use residential zone is set to introduce a host of new living spaces, including studios, one-bedroom, and two-bedroom apartments, totalling 848 units during this period.
According to Atterbury, phase 2 is scheduled for completion in June 2025.
“With Phase 2’s completion scheduled for June 2025, future residents will relish not only their stylish abodes but also the added benefit of easy access to shopping and all major transportation routes,” said Atterbury.
Barlow Park is situated at 180 Katherine Street, Sandton, Gauteng, South Africa, a few minutes away from Sandton City. The suburb is widely referred to as the richest square mile in Africa.
The project was initially revealed in 2017 and valued at R3 billion, but it only broke ground in July 2022 due to the outbreak of COVID-19 and changes in the real estate market.
Divercity and Atterbury are the developers of the mixed-use area, while Barloworld, Twin City, and the Moolman Group are also involved in the development.
The mixed-use development can be seen for those who take the M1 on Johannesburg between Grayston Drive and Marlboro Drive offramps.
The mixed-use area also features a 5,500 sqm retail centre, with tenants including Checkers, Clicks, Mr Price, PEP Home, and PnP Clothing, as well as a wide array of restaurants.
JSE-listed Curro also operates a high school on the property, which anchors the development.
Apartments at Barlow Park start from R4,899 per month
Mixed-use boom
Mixed-use developments are becoming increasingly popular among South African property buyers and investors.
These developments combine residential, commercial, and recreational spaces within a single area.
“These projects create synergy by combining various lifestyle elements in convenient locations. For buyers, this translates to a higher quality of life,” said Richard Gray, CEO of Harcourts South Africa.
“For investors, the diversified nature of these developments often leads to higher returns and reduced risk.”
Harcourts added that the financial benefits of investing in these developments are clear. Investors can capitalise on various revenue streams, such as residential and commercial leases. This diversification creates a more consistent cash flow and mitigates risks linked to market fluctuations.
Another pro is the potential for long-term capital appreciation.
Urbanisation is also driving demand for integrated living spaces. Properties within mixed-use developments are thus seen as more desirable, resulting in a better resale value over time.
Buyers also benefit from immediate lifestyle improvements and future financial gains via strategic investments.
“These developments enhance the quality of life for residents while providing robust investment opportunities for buyers,” added Harcourts.
“As the property landscape continues to evolve, embracing the mixed-use trend may be the key to unlocking sustainable and profitable investments in 2024 and beyond.”
Prominent South Africa mixed-use developments include Century City in Cape Town, Val de Vie in Paarl, Melrose Arch, Steyn City, Waterfall City, Rosebank, and Kyalami Estates in Johannesburg.
However, Barlow Park is far more affordable than the other noteworthy mixed-use developments.
While a studio apartment at Barlow Park costs R4,899 per month, you’ll be hard-pressed to find a studio in Melrose Arch for less than R13,000 a month, despite the two developments being situated parallel to the M1 and roughly 5 kilometres apart.
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