Richmont Park to equal Waterfall Estate success
Author: Roy Cokayne
Johannesburg – Atterbury Property is aiming to replicate the success of the Waterfall Estate development in Cape Town with its R5 billion mixed use development on a prime greenfields site in Milnerton, ownership of which was restored to the original owners in terms of the Restitution of Land Rights Act.
The project is the biggest and most ambitious undertaken to date by Atterbury in the Western Cape.
Called Richmond Park, it is to be developed on 84 hectares of land adjacent to the N7 highway in Milnerton, be a landmark business park and mixed use precinct consisting of retail, light industrial, commercial and warehousing property development.
Gerrit van den Berg, the development manager for Atterbury’s Western Cape developments, said Atterbury was the major shareholder in the development, which was being undertaken in association with local partners Bethel Property and Qubic 3 Dimensional Property.
“This is a groundbreaking project, not only from a magnitude and concept perspective, but also from a socio-economic and community upliftment perspective. The land on which Richmond Park will be developed is part of a landmark land restitution settlement,” he said.
Ownership of the site was transferred back to the Richmond Park Communal Property Association in December last year following a land claim.
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