The Rabie Property Group will launch the Quays, a new boutique commercial development giving smaller office users the chance to buy in Century City.
The Quays will comprise 39 low rise studio offices ranging from 41 to 228 square metres, excluding balconies, and priced from around R800k excluding VAT.
Construction is scheduled to get underway in early 2013 with occupation expected in March/April 2014
The development will comprise 39 low rise studio offices ranging from 41 to 228 square metres, excluding balconies, and priced from around R800k excluding VAT.
Rabie director John Chapman says this development represents a unique and ideal opportunity for both investors and smaller owner occupiers looking for an affordable entry into commercial property ownership at Century City.
“It would be ideal for service providers or professionals such as doctors, dentists, financial advisers and the like.”
Chapman says the Quays is tailored to meet the needs of two categories of buyers – owner occupiers and investors - for whom price had previously been an economic barrier to commercial property investment at Century City.
Through clever design and capitalising on the tail end of the relatively low construction price cycle we have been able to develop an affordable commercial investment product that is comparably priced with our entry level residential developments in the precinct, he explains.
“We expect this will have a special appeal to those investors who have previously limited their portfolio to residential investments due to price considerations.”
Chapman says the low rise offices will be set around courtyards and a water-fronting piazza on to which a bistro restaurant will flow.
The two and three storey office buildings with basement parking for tenants and podium parking for visitors – 140 bays in all - have been designed as individual facades rather than a monolithic office block and the varying architecture will give the appearance of a village street edge that has evolved over time.
The buildings will be serviced by a lift. There are also a limited number of opportunities for ancillary retailing with street frontage and a few dual work and loft living opportunities.
The Quays is the commercial component and final phase of a mixed use development and follows the successful launch of the Quayside and Quaynorth residential elements.
An added advantage is that it will link into Century City Connect, the open access Fibre-to-the-Premises network which offers access to the country’s fastest voice and broadband services as well as multi-media connections, says Chapman.
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