The Victoria & Alfred Waterfront, co-owned by Growthpoint Properties and the Government Employees Pension Fund (via the Public Investment Corporation), has begun detailing its ambitious plan to reclaim additional land to develop the Granger Bay precinct.
This area is currently home to the Oranjezicht City Farm Market, Grand Africa Cafe & Beach, and Oceana Power Boat Club. In early 2025, the market will move to a new location closer to The Cape Wheel's new site.
The situation is rather simple: the V&A has run out of land ("bulk") to develop. Only 4% of its land is undeveloped. Its total gross lettable area (GLA) is 450 000m2. There's not much more room to build anything.
Currently, construction is underway on a new hotel on quay seven which is between the Table Bay Hotel (which will shortly be converted to an InterContinental) and the new helistop.
It can't build much more towards the CBD as it has recently completed the Canal District and there is no more space for development.
This story is from the December 10, 2024 edition of The Citizen.
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This story is from the December 10, 2024 edition of The Citizen.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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