Golden Acre redevelopment enters retail phase

The landmark Golden Acre Precinct redevelopment has entered its next phase with the formal commencement of construction on its extensive retail component.

This stage follows the residential conversion that began late last year, marking a pivotal transition for the site from a transient thoroughfare into a curated, 18-hour mixed-use environment.

Evolving the commuter experience

The retail upgrade is specifically engineered to serve the daily needs of Cape Town’s commercial and residential populations, alongside the thousands of commuters who rely on the precinct for connectivity.

Planned interventions are focused on refreshing the building’s fabric and finishes, introducing new trading areas, and rationalising the tenant mix.

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Crucially, the project also aims to improve pedestrian safety and movement through enhanced lighting, upgraded surveillance infrastructure, and the rationalisation of flows for commuters, taxis, and delivery vehicles.

“By commencing the retail phase, we are moving closer to our vision of a precinct that balances heritage and mobility with modern, dignified urban living for the working professionals who make our CBD thrive,” says Lesego Majatladi, director of Gracht Asset Managers.

Affordable living and precinct management

Acquired by Putirex in July 2025, the Golden Acre complex, including 11 Adderley Street, represents one of the largest property deals in the CBD in recent years.

The project’s residential component involves transforming the 24-storey office tower into 414 affordable rental units targeted at the “missing middle”.

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These units are expected to be priced roughly 30% below current market rates.

Operating partner Neighbourgood is set to manage the residential tower, offering a lifestyle-focused experience that includes co-working spaces and community events.

Developers have confirmed that shopper and commuter access will be strictly maintained throughout the construction period. The complete redevelopment of the Golden Acre Precinct is currently targeted for completion by early 2027.

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