Waterfall development to feature mixed commercial use

A waterfall development, spanning either side of the N1 highway from Allandale to Buccleuch Interchanges, has already secured developments valuing over R7billion. This makes this one of the fastest-off-the-ground mixed-use developments yet, of Gauteng.

Capital growth property fund, Attacq, which is widely involved in the development, claimed yesterday that the project is procuring rewards and expecting an eventful year as a number of its major developments are completed.

Situated midway, effectively closing the gap between Northern Sandton and Midrand on a 340 hectare acre tract of land lined by the Buccleuch, Kyalami and Woodmead suburbs, the Waterfall development boasts 1.753 million square metres of bulk for development. To date, over 175,000 square metres has already been developed.

Porsche South Africa - Highest bidder of Kyalami

The Kyalami Racetrack has been sold for R205million to Porsche South Africa, who intend to preserve the property as a racetrack.

Yesterday saw South Africa’s first racetrack auction with the highest value received for High Street Auction Co, according to Joff Van Reenen, the lead auctioneer. The auction was held at Summer Place in Johannesburg.

Seven bidders were registered for the property, depositing a refundable R4million for participation in the auction.

As well as the racetrack being retained, the name will also remain to be Kyalami Racetrack. Van Reenen has also claimed to be pleased with the purchase price.

600 to 800 participants were anticipated for the auction.