The major upgrade of Cape Town’s Golden Acre Precinct is gaining momentum, with the full project set for completion early next year.
Construction has now started on the retail section, marking an important step in turning the busy commuter hub into a lively, 18-hour mixed-use environment.
Lesego Majatladi, Director of Gracht Asset Managers, who have been appointed by Putirex, the new owners of the Golden Acre, said that after work began on the residential side late last year, attention is now on improving the shopping areas.
Majatladi said the goal is to turn the space from a place people “just pass through” into one that better serves commuters, residents, and businesses.
Plans include a smarter tenant mix, new trading areas, upgraded finishes, and improved pedestrian flow and safety.
The project began after Putirex bought the Golden Acre complex, including 11 Adderley Street, at a price of R781.5 million in July last year.
The 24-storey office tower is being turned into 414 more affordable rental apartments for the “missing middle”, with rents expected to be about 30% lower than current market prices.
The building will be managed by Neighbourgood, offering shared workspaces and community activities.
Majatladi said safety and access are also a big focus.
“Improvements will include better lighting, more cameras, and upgraded public spaces to make the area safer for the thousands of people who use it every day.
“Changes to how people, taxis, and delivery vehicles move through the area will also help reduce congestion.”
According to Majatladi, commuters and shoppers will still be able to access the area during construction.
Majatladi said: “The Golden Acre has always been a gateway to Cape Town. 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.”
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