Transforming Cape Town's heart: Golden Acre's retail overhaul begins

Source: Supplied. Artist's rendition.

Building on the successful launch of the residential conversion phase late last year, this next stage signals a decisive move toward creating a dynamic, 18-hour mixed-use destination.

The project aims to revitalise one of the city’s busiest commuter hubs, reshaping it into a vibrant, modern urban space that better serves residents, workers, and visitors alike, going forward.

Planned interventions will focus on rationalising the tenant mix, adding new trading areas, refreshing the existing fabric and finishes as well as significantly improving pedestrian flow and safety.

CBD vision progresses

“The Golden Acre has always been a gateway to Cape Town,” says Lesego Majatladi, director of Gracht Asset Managers. “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."

Key facts about the project:

• The Golden Acre complex, including 11 Adderley Street, was acquired by Putirex in July 2025 in one of the largest property deals in the CBD in recent years.
• The 24-storey office tower is being transformed into 414 affordable rental units aimed at the missing middle; with long-term rentals expected to be priced approximately 30% below current market rates.
• Improvements include refurbishment of surrounding infrastructure, improved lighting, and enhanced surveillance to ensure a safer experience for the thousands of people who move through the precinct daily.
• Operating partner Neighbourgood will manage the residential tower, offering tenants a lifestyle-focused experience with access to co-working spaces and community events.
• The project is being undertaken in close alignment with the City of Cape Town and the Mission for the Inner City to support broader CBD revitalisation goals.

Source: Supplied. Artist's rendition.

Urban regeneration South Africa

This retail phase also signals a major milestone in building a safer urban environment through strategic precinct management. By rationalising movement flows for commuters, delivery vehicles, and taxis, and introducing enhanced lighting and surveillance infrastructure, the project aims to set a new standard for public-private collaboration in the CBD.

These improvements are designed specifically around the heartbeat of the precinct, the commuters who rely on the Golden Acre for movement and connection every day.

The developers have confirmed that commuter and shopper access will be maintained throughout the construction period, with the entire redevelopment project targeted for completion by early 2027.