You can rent an apartment on top of an iconic South African shopping mall for R10,500 per month

·7 Jul 2026

Golden Acre Shopping Centre in Cape Town’s CBD is now getting a blended residential option, allowing people to live above the mall.

The centre’s new owners are investing in the 24-storey complex, which is undergoing a massive renovation on the retail side.

One notable project is the integration of a residential component, The Acre by Neighbourgood, developed in partnership with and operated by Neighbourgood, a property management company.

The development will re-use the former office block as a home for local professionals, responding to demand for well-located city living in Cape Town.

Built on the idea of blended living, the residential offering offers semi-furnished city-centre apartments
with shared amenities, flexible workspaces and wellness facilities

Above the original Golden Acre shopping centre, the former office block has been repositioned into a 27-floor, 23,000 sqm residential development comprising 302 long-term and 115 short-term apartments.

The short-term accommodation will cater for stays ranging from a single night to three months, while the long-term apartments will be available on traditional annual lease agreements.

Occupation of the first 100 units is expected from October. Offerings will include semi-furnished studio, one-bedroom and two-bedroom apartments.

The studio units will range from 24 sqm to 35 sqm, and one- and two-bedroom units will range from 30 sqm to 70 sqm.

Rental pricing is expected to start from R10,500 per month, depending on the unit type. Residents will also have access to Wi-Fi, a clubhouse, a coffee shop, a gym, communal laundry and storage areas.

Hospitality-focused apartments are also being offered alongside longer-term residential units, which will allow for weekly housekeeping, linen changes and apartment cleaning.

The project will also have a co-working space within the clubhouse, which will provide residents and members of the Neighbourgood ecosystem with flexible work facilities.

Huge upgrades for the mall

The centre originally opened in the Mother City in 1979 and was built on the site of the original train station, forming a crucial link between the CBD and its major public transport systems.

Ahead of the 2010 Soccer World Cup, the Grand Parade Shopping Centre was incorporated into Golden Acre, adding many new stores and fast-food restaurants.

In 2025, the Competition Commission approved the deal where Putirex and 11 Adderley Properties would buy Golden Acre and Grand Parade from the Paramount Property Fund.

The mall is now undergoing a massive multi-phase redevelopment project that aims at “modernising, refreshing, and elevating the shopping experience.”

The planned three-year redevelopment programme will enhance key areas of the centre. Stores will continue to remain open and trade. The redevelopment is focused on several key initiatives:

Creating a more modern and welcoming environment
Improving customer flow and accessibility
Enhancing the overall look and feel of the centre
Creating upgraded spaces to better serve shoppers and tenants
Future-proofing Golden Acre for the next generation

The first major phase of the mall’s redevelopment is taking place on its Piazza Level, which started in February this year and is expected to take a year to complete.

“This next phase is about reimagining an iconic Cape Town landmark for a new generation,” said Lesego Majatladi, Director of Gracht Asset Managers, the property firm driving the redevelopment project.