[LISTEN] I foresee a mixed-use type of development, similar to that of a Harbour Arch or Melrose Arch, with a live-work-play kind of setup – WesACowan of GalettiCRE on Newlands Rugby Stadium. Download the podcast
The historic Newlands Rugby Stadium in Cape Town is up for sale. This comes after the Western Province Rugby Football Union decided to move to the Cape Town Stadium as the new home base for Western Province and the Stormers. The union has been under financial pressure and tried to have joint-venture deals to unlock development on the land within the Newlands Rugby Stadium precinct, first with Investec Property a few years ago, and then another private group. However, both deals fell through.
” “With regard to the use and the area … In the [nearby] Newlands Cricket Ground, they’ve just developed about 15 000 square metres of commercial space, which has been taken up really well by the market.” “Given its location, with the iconic view of Table Mountain, it’s [a] really sought after office node.
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