Golden Acre is set for one of its biggest changes in decades as its new owners move to turn the Cape Town CBD landmark into a mixed-use precinct.
The 24-storey property is being repositioned to include residential living, hospitality, retail, co-working spaces and upgraded public areas.
For many Capetonians, Golden Acre has long been more than a shopping centre. It is a busy meeting point and a key gateway into the city centre.
Now, the goal is to create a space that serves shoppers, residents, workers, commuters and visitors throughout the day.
New Apartments Coming to the CBD
A major part of the redevelopment is the conversion of underused office space into residential units.
Through a partnership with Neighbourgood, the development will include 302 long-term apartments and 115 short-term units under The Acre by Neighbourgood.
The project will span 27 floors and cover about 23,000 square metres.
Short-stay apartments will cater for visitors staying from one night up to three months. Long-term residents will be able to sign annual leases.
The first 100 units are expected to be ready for occupation from October.
Rental prices are expected to start from R10,500 per month, depending on the size of the unit. The apartments will include studio, one-bedroom and two-bedroom options.
More Than Just Housing
Residents are expected to have access to Wi-Fi, co-working areas, a clubhouse with a restaurant and bar, a coffee shop, gym facilities, outdoor exercise areas, communal laundry facilities and storage.
The retail offering at ground level is also being redesigned.
The updated mix is expected to focus on everyday needs, including groceries, food outlets, health and wellness stores, personal care, banking, technology retailers and commuter-focused services.
Developers say the plan is to make Golden Acre an “18-hour precinct”, meaning it stays active beyond normal office hours.
Better Links to Transport
The project also includes upgrades to public spaces around the building.
These planned improvements include better lighting, stronger security systems, clearer pedestrian routes and improved links to public transport.
Connections to Cape Town Station, the bus terminal, the minibus taxi interchange and MyCiTi services are also expected to be improved.
Lesego Majatladi, Director of Gracht Asset Managers, said the redevelopment is about reimagining an iconic Cape Town landmark for a new generation.
Majatladi also said Golden Acre can only succeed if the surrounding area works too, adding that they are working with the City to improve the immediate environment.
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