28 May 2009
The phased occupation of a R300m office park in Modderfontein in the east of Johannesburg is well underway with the 13th building in the development nearing completion.
The new 2,500sqm Greenstone Hill Office Park is now available for lease or sale at 90sqm (gross) or R13 500/sqm respectively. Occupation date is set for July 1.
Furthermore, the construction of Malakite Park, a R2bn office, hotel and residential development in the Greenstone Hill node, is in progress.
"Phase one construction is at ground level stage in the first five blocks, with earthworks complete. Block six is nearing completion of the lateral support and piling. We anticipate that construction for this phase will be finalised in the next twelve months," says Rodney Gray, MD of Balwin Properties.
Malakite Park's gatehouse and main entrance area is also under construction and culvert access to the hotel site, which involves the diverting of the council road, is also underway. Plans to improve access and traffic flow in and around the office park include new slip lanes, wider roads and new traffic lights.
The upmarket, 12 ha Malakite Park development will offer a premium combination of 50,000 sqm office, 376 residential units and a 264-key hotel. "The five-level, 264-key conference and hotel facility includes a gym, bar and restaurant and is scheduled for completion before the soccer in 2010," says Steve Brookes, Chairman of Balwin Properties.
Offices will be located around a central boulevard and will include franchised coffee shops and food outlets, a gymnasium and jogging track. High level security will be provided by means of on-site monitoring and access control.
"Malakite Office Park will be developed in two phases, with the first or southern phase, comprising 20,000sqm office space in six buildings. The second phase will include approximately 30,000sqm and this will incorporate the Malakite Hotel and seven office buildings."
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