July 7 2026 15:00
Picture: Supplied
Golden Acre has entered its next era of revitalisation, as one of Cape Town’s most recognisable landmarks is repositioned into a mixed-use destination which brings together residential living, hospitality, retail, workspaces, transport connectivity, and enhanced public spaces in the heart of the CBD. The centre’s new owners are investing in its future while maintaining its heritage, marking
a new chapter for the historic 24-storey complex. This sets in motion an ambitious vision to transform the precinct into a dynamic, 18-hour destination which meets the evolving needs of a modern city and the people who live, travel, work, visit the Mother City daily.
The project forms part of Golden Acre’s ongoing renewal, driven by a long-term vision to strengthen the precinct’s role as a destination for living, hospitality, retail and everyday city life. Through a considered mix of residential, commercial and public spaces, the development is designed to create a more inclusive and connected environment in the city centre. It needs to serve a wider variety of Capetonians.
“This next phase is about reimagining an iconic Cape Town landmark for a new generation, ensuring it remains relevant, accessible and responsive to the changing needs of the city for decades to come,” said Lesego Majatladi, Director of Gracht Asset Managers, which is the property firm driving the redevelopment project.
He spoke at a project update and launch event last Thursday evening.
At retail level, a revamp is underway, with the shopping complex repositioned to serve a far broader audience with ever-evolving needs. The tenant mix and shopping experience is being reimagined to focus on everyday convenience, groceries, food and beverage, health and wellness, personal care, services, technology, banking, lifestyle, grab-and-go food, commuter-focused essentials and selected destination-led offerings. The aim is to create a retail environment that works for residents, workers, visitors, shoppers and the everyday South African commuter.
One of the notable advancements in the project is the integration of a residential component, The Acre by Neighbourgood. It has been developed in partnership with and operated by Neighbourgood, the property development and management company specialising in modern living spaces and workspaces centred around community and belonging, according to CEO and founder Murray Roberts. Through the adaptive reuse of underused office space, the development reimagines the former office block as contemporary homes for local professionals, responding to growing demand for well-located city living.
Built around the concept of blended living, The Acre by Neighbourgood combines semi-furnished city-centre apartments with shared amenities, flexible workspaces, wellness facilities and community programming designed to support modern urban lifestyles.
Above the original Golden Acre shopping centre, the former office block will be developed into a 27-floor, 23,000 m² residential development comprising 302 long-term and 115 short-term apartments. The short-term accommodation will cater for stays ranging from a single night to three months, while the long-term apartments will be available on traditional annual lease agreements.
Occupation of the first 100 units is expected from October 2026.
The residential offering will include semi-furnished studio, one-bedroom and two-bedroom apartments. The studio units will range from 24 m² to 35 m², and one- and two-bedroom units will range from 30 m² to 70 m². Rental pricing is expected to start from R10,500 per month, depending on unit type. Residents will have access to Wi-Fi, a clubhouse with restaurant, bar, co-working spaces, a coffee shop, a gym, outdoor exercise facilities, and communal laundry and storage areas, all designed to support the way people live and work.
The model also includes hospitality-focused apartments alongside longer-term residential units, allowing for weekly housekeeping, linen changes and apartment cleaning, as part of a more service-led residential experience. The partners involved remain committed to the long-term management, maintenance and continued activation of Golden Acre, ensuring the precinct
continues to evolve well beyond completion.
Picture: Supplied
The project will reflect changing ways of living and working, according to its investors. A co-working space within the clubhouse will provide residents and members of the Neighbourgood ecosystem with flexible work facilities, supporting a lifestyle where home, work and community exist within a single connected precinct.
Safety and pedestrian movement are also central to the redevelopment. Upgrades include improved lighting, enhanced security systems, better visibility, refreshed public areas, clearer pedestrian routes and a stronger connection between the retail, residential and transport components of the precinct. Existing entry points will remain in place and, working closely with the City, the precinct and its surrounding areas will be carefully managed to support a safe, well-maintained and accessible experience for al who move through the district.
Majatladi stresses that the success of Golden Acre’s redevelopment extends beyond the core building and its facilities.
“Golden Acre can only thrive within a context that works. We are investing and working with the City so that its immediate environment thrives,” he says.
Improved pedestrian mobility will be achieved, as well as routes to the Cape Town Station, bus terminal, minibus taxi interchange and MyCiTi bus connections. These measures will re-create anenvironment which re-connects the CBD with the Grand Parade and the Castle. The existing parking facility will remain, with substantial on-site parking available for visitors and tenants.
As work continues towards the main unveiling later this year, this July update is an opportunity to reflect on what has been achieved to date and the milestones ahead.
Majatladi said that between now and year-end, the focus will be on completing the construction, blending new tenants into the precinct, and developing its residential component.
alistair@propertyflash.co.za
