Johannesburg-based property developers NuWay Housing and Krisp Properties‚ both of which fall under the NuHold Group‚ said on Wednesday they would be early starters in taking advantage of how e-tolls affect peoples’ living patterns.The property group would build a residential and retail development by Olievenhoutbos between Johannesburg and Pretoria.
The development site is next to the R55 — a major alternative route for motorists wanting to avoid paying the soon-to-be-implemented e-toll fees on Johannesburg’s freeways. The cost was estimated at R110m and would include a 9‚000m² shopping centre and 114 residential stands.
The Tshwane Municipality is planning for a major intersection along the R55 at the site of the development once NuHold has completed construction‚ as part of its upgrade of the area. This would allow traffic to easily divert to the shopping centre.
The development would also include a community centre.
“The centre will be a convenient stop for traffic passing by between Johannesburg and Pretoria for motorists wanting to make a quick stop en route to work or heading back home.
“There is also the benefit of thousands of residents in immediate proximity of the centre who will make use of it as their neighbourhood shopping centre‚” NuHold director Jordan Mann said.
“The route is in excellent condition‚ linking the Johannesburg’s western bypass to the Krugersdorp highway‚ passing Kayalami. It underwent a revamp in recent years‚” Mann said
Many residents in the immediate vicinity of the site fell into the low-income bracket and rely on public transport‚ so having local‚ convenient amenities like this would benefit thousands of households in the area‚ he said.
“The ‘X factor’ is that the development is able to serve two categories of shopper — passing-by motorists as well as the local community‚ which is in need of a community shopping centre‚” Mann said.
Bond originators Ooba conducted a survey in 2012 which showed that 80% of respondents would consider Gauteng’s toll road routes when selecting property.
Source: BD
