Johannesburg Stock Exchange listed property company Growthpoint Properties has signed a 10 year lease with the Protea Hotel Group.
Constantia Park is situated on the corner of Hendrik Potgieter Street and 14th Avenue in Constantia Kloof and offers full highway frontage onto the N1 and exceptional access to both Johannesburg and Pretoria.
Growthpoint, the largest listed property company by market capitalisation signed up a new tenant, the Protea Hotel located at Constantia Park in Roodepoort, Gauteng.
Constantia Park is situated on the corner of Hendrik Potgieter Street and 14th Avenue in Constantia Kloof and offers full highway frontage onto the N1 and exceptional access to both Johannesburg and Pretoria.
The hotel was previously known as the Holiday Inn Express Roodepoort with views of Magaliesburg to the west, easy access to the N1, Lanseria International Airport, Greater Roodepoort, Krugersdorp, Sandton, Soweto and Johannesburg CBD.
It is also the second previously internationally-branded hotel to join the Protea Hospitality Group in 2011.
Arthur Gillis, chief executive officer of Protea Hotels says the property has great potential not only for corporate guests, but visitors to nearby places such as the Cradle of Humankind World Heritage Site.
The 71 000 square metre mixed-use Constantia Park has seen huge demand for office space lately and works well for a corporate hotel, says Debbie Theron, office property portfolio manager at Growthpoint Properties.
Theron says prime office vacancy rate at the precinct have dropped by more than two full percentage points and new tenants including global IT solutions provider Huawei and mining company Gold One International recently moved into the precinct. – Denise Mhlanga
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