Quays, an exciting new boutique commercial development providing smaller office users the opportunity to purchase in Century City, has been notching up strong sales since its recent launch.
14 of the 39 units have been sold to date for a total consideration of R28 million, with a further eight totaling R16 million under negotiation at the Quays in Century City.
In fact 14 of the 39 units have been sold to date for a total consideration of R28 million, with a further eight totaling R16 million under negotiation.
This equates to 2 243 square metres out of 3 586 square metres or 62 percent that has been sold or reserved to date.
The development, which is under construction on a site between the Waterstone residential development and the Central Park commercial node, comprises low-rise studio offices ranging in size from 41 to 228 square metres, excluding balconies, and priced from around R800 000, excluding VAT.
Giles Balmer of developers Rabie Property Group says the Quays commercial node was part of a mixed-use development including apartments and a restaurant.
“It has an intimate scale and embraces both the neighbouring residential developments – Quayside and Quaynorth as well as the Waterstone complex - and the Central Park commercial node and as such acts as an interface between the various components.”
Balmer says it has been designed to enhance the pavement ambiance of this increasingly popular area where parents drop their children off at playschool, people arrive for functions at the Clubhouse or on the field, canoeists amble or row past and bird watchers arrive in great numbers to visit Intaka Island nature reserve.
The development appeals equally to investors and smaller owner occupiers such as service providers and professionals looking for an affordable entry into commercial property ownership at Century City.
It is also proving popular with the likes of doctors, dentists and financial advisers.
The low-rise offices are set around courtyards and a water-fronting piazza and bistro restaurant.
The two and three storey office buildings with basement parking for tenants and podium parking for visitors - 140 bays in all - have been designed as individual facades rather than a monolithic office block and the varying architecture will give the appearance of a village street edge that has evolved over time.
The buildings will be serviced by a lift. There are also a limited number of opportunities for ancillary retailing with street frontage and a few dual work and loft living opportunities.
Construction is scheduled to get underway in early 2013 with occupation expected in March/April 2014.