Golden Acre's R781m transformation begins with new residential tower

Construction of the new residential tower in the Golden Acre Precinct has begun.

The redevelopment of the Golden Acre Precinct, which sits at the centre of Cape Town's largest public transport interchange, has formally begun in recent weeks, marking a major step toward revitalising the heart of the city with the commercial office tower being converted to residential apartments housing, upgraded retail, and a safer, better-connected pedestrian environment.

In August, Cape Argus reported that history was made as the iconic Golden Acre Shopping Centre has been sold for R781 000 000.

The sale was approved by the Competition Commission in February following its transfer. The new owners (Putirex (Pty)) are set to redevelop the mall which was built by Sanlam in the 1970s.

Earlier property broker, Ash Müller stated the mall, which has become an historical and iconic landmark, will be upgraded with plans for its 110m high tower.

On Thursday, construction of the new residential tower officially commenced, with partners emphasising the significance of the project for inner-city workers, daily commuters, and the broader economic and social fabric of Cape Town's downtown.

The redevelopment is being undertaken in close alignment with the City of Cape Town and the Mission for the Inner City to ensure a coordinated, commuter-centred regeneration of the precinct.

Lesego Majatladi, Director of Gracht Asset Managers (Pty) Ltd, appointed by Putirex to manage the interaction between the complex redevelopment process, the trading retail centre and the various City of Cape Town initiatives in the area, said: "Seeing construction finally begin at the Golden Acre is a moment of real excitement for all of us.

"This precinct has long been a gateway to Cape Town, and now it's entering a new chapter, one that brings housing, safer public spaces, and an improved experience for the commuters who form its heartbeat.

The first phase of construction focuses on the new residential tower, which will introduce modern, well-managed apartments designed specifically for working professionals who require affordable, dignified access to the CBD.

Architects confirm that the development will focus on: Practical, efficient unit layouts, high-quality materials and finishes, secure access and building management, Community-oriented amenities and integration with the precinct's pedestrian and retail environment.

Speaking on the partnership, Murray Clark, CEO of Neighbourgood said: "Neighbourgood is excited to partner on this important project. Our goal is to bring accessible, high-quality inner-city living to the working professionals who make Cape Town's CBD thrive.

The Golden Acre is a landmark with deep history, and we see this as an opportunity to steward its next chapter with care, affordability, and a strong community focus."

Planned upgrades include: Improved pedestrian corridors from Adderley Street to Strand Street, enhanced lighting and surveillance infrastructure, rationalised movement flows for commuters, delivery vehicles, and taxis and safety improvements around key access points and public areas.

Ian McMahon, local Ward Councillor, said: "The Golden Acre redevelopment supports the City's long-term vision for a safe, accessible, and inclusive downtown. Projects like this are essential for creating a more connected inner city that balances heritage, mobility, and modern urban living."

The redevelopment acknowledges the importance of offering continuity to retail shoppers and commuters, retaining key heritage features, including the 1663 water canal, and of committing to a future that honours the precinct's cultural and commuter legacy.

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Cape Argus