The economic powerhouse Sandton is set to receive a R600m AAA-grade sectional title office development in a prime location.

It will be built by a development consortium consisting of Barrow Properties, Group 5 and the Amabubesi group.

Marketing has already begun of Sandton Gate, providing investors and owner/occupiers with an opportunity to acquire space in an area that’s booming commercially and residentially, courtesy of major makeovers to Sandton City and the advent of the Gautrain Rapid Rail System.

Construction begins early next year and occupation is scheduled for 2013.

Fifty sections of AAA-grade office space are being marketed, ranging from 150sqm to 1000sqm at R22,500/sqm, ensuring an entry level price of R3,5m. Basement parking, stores and balconies are priced separately. On the other hand, major buyers have the option of acquiring entire floors of just over R2k/sqm apiece.

In all, the project involves some 20 000/sqm of office space, all within a fully secured, access controlled site.

Barrow emphasises the space is selling at today’s prices, with settlement due only in 24 months time, subject to deposits being received and confirmation by buyers that funding is available.

“Given the ease of commuting and proximity to many of South Africa’s top businesses, head offices and professional and financial service providers, we anticipate interest from syndicates, corporates, high net worth individuals (HNWI’s) and even overseas buyers such as multinationals with a South African presence,” says a Barrow spokesperson.

Structurally, the property involves eight storeys. There will be five levels of parking providing a parking ratio of over three bays/100sqm of office space. In addition, there will be 25 dedicated bays for visitors and the development is able to accommodate additional bays where required.

Services have been secured for the site and the building designed by TPSP Architects will incorporate numerous “green” elements both in construction and in the economic use of light, space and ventilation. Back-up power will be provided.

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