The 6,500m2 fully-let Richmond Corner shopping centre in Cape Town opened its doors this month. It is also part of Richmond Park, an 84ha site that is part of a milestone land restitution settlement.
|
L-R: Richmond Park Communal Property Association (RPCPA) representative Yolanda Hansen; Dr Wayne Alexander, chief director: Western Cape of the Land Claims Commission; chairperson of the RPCPA, Danny September; and RPCPA representative Frances Leideman |
The land is owned by the Richmond Park Communal Property Association (CPA) – a group of 401 families representing 5,300 people spanning five generations who were forcibly removed between 1972 and 1984. In 2014, the land transferred back to the CPA. The Richmond Park Community leased the land to the Richmond Park Development Company and has a shareholding in the development company.
Richmond Park is among the largest property developments in Cape Town with 300,000m2 of greenfield mixed-use development rights. Its major shareholders are Atterbury, Old Mutual Properties, the Richmond Park CPA as well as Qubic 3 Dimensional Property, Bethel Property and Atlantis. All of Richmond Park’s shareholders attended the launch event, and were joined by members of the Richmond community. Atterbury is rolling out the multi-billion-rand Richmond Park development on behalf of the shareholders.