Tenants are signing rental leases fast and furiously at the sought-after A-grade mixed-use Constantia Office Park in Constantia Kloof, Roodeport.
The 71 000 square metre property in Roodeport is considered to be one of the most successful of its kind. It is located on the corner of Hendrik Potgieter Street and 14th Avenue.
Buildings in the park are interspersed with landscaped parks and social interactions areas supported by amenities including a hotel, Virgin Active Gym, Shell service station and restaurants.
The offices are owned by Johannesburg Stock Exchange top listed property company by market capitalisation, Growthpoint Properties Limited.
Mobile network operator MTN is growing its occupancy in Constantia Office Park with an additional 4000 square metres to its current 9 000 square metre premises. MTN is consolidating offices in a node where it already has a strong presence.
Leading global information and communications technology solutions provider Huawei has recently taken occupancy at Constantia Office Park, as has mining company Gold One International.
Financial services leader RMB has signed for a further 1 000 square metres in Constantia Office Park, taking its tenancy to 3 500 square metres.
Other blue-chip tenants at Constantia Office Park include Afrisam SA and Primedia Outdoor and there are a number of smaller entrepreneurial businesses too.
Constantia Kloof is surrounded by one of Gauteng’s most notable business and residential growth areas.
The South African Property Owners Association and Investment Property Databank Office Vacancy Survey Q2 2011 reports that office vacancies in the Constantia Kloof basin were at 8.2 percent compared to 10.4 percent six months previously.
New occupancies at Constantia Office Park are expected to continue to influence this figure positively, says Debbie Theron, office property manager at Growthpoint Properties.
“Constantia Office Park continues to attract business tenants because of its accessible location and in terms of rush hour traffic, it goes against the busiest flows,” she says.
She explains that the Constantia Kloof area, which until recently was experiencing an excess of office space is quickly filling up.
Growthpoint occupancy levels have increased dramatically. Vacancies are now at single digit percentages as a result of the increased demand and innovative leasing solutions.
The Constantia Kloof node is served by retail facilities as well as being close to the country, in easy proximity to the Cradle of Human Kind. Another attraction is the quick 30-minute drive to Lanseria International Airport.
A core asset in the Growthpoint Properties office portfolio, the company has not only invested in the upkeep and improvement of Constantia Office Park, but also in its tenant relationships at this respected business address.
“We have a full management team at the park which has further enhanced good relationships with our tenants.”
She says as an example, Primedia began its tenancy in 250 square metres and now its occupancy spans 4 500 square metres of offices at Constantia Office Park.
Student loan provider Eduloan has also grown its offices in the park substantially, having doubled in size.
Growthpoint Properties has property assets valued in excess of R30 billion located throughout South Africa. Its quality office portfolio includes 134 geographically diverse properties valued at some R13.7 billion. – Denise Mhlanga
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