07 Mar 2013
A new 800 square metre office block, which forms part of the second phase of the Greenford Office Park adjacent to the Kenilworth Race Course, is nearing completion.
The two storey building, which offers a mix of basement parking and open bays on a ratio of four per 100 square metres is one of seven buildings planned for phase two.
The first block will be available for occupation from April onwards and construction of a further building will commence shortly.
Providing a total of 5 600 square metres of A grade offices and with a total development cost in excess of R80 million, phase two is scheduled for completion in 2014.
Fronting onto the Kenilworth Race Track and a nature reserve, the buildings will be set in beautifully landscaped gardens with a large water feature providing a tranquil working environment.
Designed by Stauch Vorster Architects in a modern Cape vernacular, the buildings in phase two range in size from 230 to 822 square metres with configurations of offices for sale ranging from 140 to 3 330 square metres.
Giles Balmer of the Rabie Property Group, which is developing Greenford in a joint venture with Western Province Racing, says the offices are available for sale on a sectional title basis or to let.
“Including parking and full installation, offices are available for sale at between R14 500 and R15 500 per square metre excluding Vat or for rental at around R110 a square metre,” he says.
One building has already been sold and a second is under negotiation and we expect sales and rentals to pick up strongly now the market can start to see the quality of what we are developing, according to Balmer.
“The development is ideal for either owner occupiers or investors as there is strong demand from tenants for offices in the area.”
Balmer says the site was the last remaining to be developed in the area and was ideally located close to the M5 and the recently refurbished Kenilworth Shopping Centre.
Phase One of the sectional title office park, which is surrounded on three sides by a nature reserve with mountain views comprised 19 small office buildings measuring just over 10 000 square metres.
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