R505 Million Sandton Prime Property

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13 Jun 2013

Redefine Properties’ R505 million redevelopment of the 90 Grayston commercial office address contributes to the vibrant and constant upgrade of Sandton, ensuring it keeps pace with other advanced cities around the world, according to Mike Ruttell, head of development.

JSE listed, Redefine Properties is developing a 16 storey premium grade office property, 90 Grayston in Sandton Johannesburg for R505 million.

He advises the project – Redefine’s single largest commercial office development to date - is on track for completion in July 2014.

Redefine is developing a 16 storey premium-grade office building of 19 343 square metres at 90 Grayston in Sandown, central Sandton.

It includes 11 levels of parking – five basement and six above ground, achieving a parking ratio of nearly five bays per 100 square metre.

There are nine levels of offices above an elevated atrium, and the building will also have its own cafeteria.

“The 90 Grayston flagship development furthers Redefine’s strategy of achieving a range of higher quality premium-grade properties in our investment portfolio.

“We are making good progress on the development, and it is exciting to see this landmark taking shape in the sought-after central Sandton node,” says Ruttell.

Superbly placed in the heart of Africa’s business hub, next to the Investec building, 90 Grayston is being redeveloped on the site of the former Allcare House, demolished in March 2012.

It’s surrounded by an impressive line-up of blue-chip companies, leading legal firms as well as banking giants, and is only a short walk from the Johannesburg Stock Exchange.

“The Sandton business hub has unmatched appeal as a corporate address and it provides an exceptional selection of amenities with hotels, gyms, conference centres and wide-ranging retail including Sandton City, one of the most prestigious malls in Africa.”

City Improvement District Manager for Sandton Central Management District, Elaine Jack, says Redefine is a one of their big partners in shaping Sandton and they value its investment and confidence in the future of Sandton.

“Every development in Sandton Central is a welcome addition to the district as it can only mean that developers and property owners value the importance of this node,” according to Jack.

With its central location, 90 Grayston is easily accessible from the highway and important northern suburb arterials including Rivonia Road, Katherine Street, Sandton Drive and William Nicol Drive.

It is also near the Sandton Gautrain Station, which is the quickest route to OR Tambo International Airport, providing a direct link.

“90 Grayston represents an iconic, sustainable office development which optimises energy consumption, reduces running costs and uses resource-efficient methods of construction and installation of services,” says Ruttell.

The building will achieve a GBCSA Four Star Green Star rating.

Incorporated in its forward-thinking vision, the building’s two top parking levels are designed to be reclaimed as offices, as South Africans increase their future use of public transport.

90 Grayston’s extremely flexible design creates a superior quality business building ideal for branded corporate headquarters or a vibrant multi-tenant environment for offices starting from around 1 250 square metres.

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