Despite the property market remaining subdued compared to pre-recessionary conditions, there has been much movement amongst the sector’s top-tier clients. These are typically large-scale P-Grade office users, who let thousands of square metres of office space, hoping to take advantage of lower prices to relocate to new premises.
In the following article, we’ve listed the five largest office developments currently under construction in South Africa:
1) SASOL, Sandton
Size: 67 000m²
Completion: Q3 2016
SASOL recently commenced work on what will become one of the largest single office developments in the country. The company will be consolidating their Gauteng offices into a single building, which will mean that they will be vacating their existing premises elsewhere in the province, which currently amounts to 17 different buildings. The new premises at 2 Katherine Street will house the company’s 3 000-4 000 companies. The building will reach 10 storeys, with a floorplate of 6 500m². The architects, Paragon, are hoping that it will achieve a 5 Star Green Star rating.
If you, too, would like to base your business in Sandton, then please call our Johannesburg office on 011 783 1195, or email firstname.lastname@example.org
2) Portside, Cape Town
Size: 52 000m²
Completion: Q2 2014
Portside began construction in Cape Town in August of 2011. Fast-forward to almost two and a half years later and the behemoth tower is rapidly nearing its official completion in April 2014. The tower has not only become the tallest in the city, but also the single largest office development undertaken there to date. It sits on a prominent site on Buitengracht Street at the entrance to the CBD from the foreshore freeways, where it enjoys panoramic views of the CBD, harbour, Green Point and Table Mountain. Half of the tower will be occupied by First National Bank/RMB, with the remainder available on the general market to lease.
If you would like to lease space in Portside, please contact Mark Gedrych on 021 418 6308, or email him at email@example.com
3) Newtown Junction
Size: 40 000m²
It has been many years since the Johannesburg CBD has seen a development of this size. Newtown Junction commenced in the middle of last year and since then the site has become a hive of activity. This ground-breaking development seeks to remove past divides by becoming an all-inclusive space that encourages walking. Its office component will be anchored by Nedbank, with large national retailers including Pick n Pay anchoring the retail element. It will be linked to the nearby Market Theatre and grain silos to become a true mixed-use space that is safe to enjoy.
If you’re interested in renting space in Newtown Junction, please call our Johannesburg line on 011 783 1195 or email firstname.lastname@example.org for more information.
4) Stimela Square
Size: 40 000m²
Stimela Square will soon be developed on the outskirts of the Johannesburg CBD. The developers aim to support the urban regeneration of the area, hoping to assist with attracting investors back to a node that was almost abandoned by big business in the 1990′s. The multi-phase project will be built around a garden square, which will act as the focal-point of the development. It will boast excellent access to major arterial routes and public transport, being located close to the M1 and M2 highways, as well as a train station. The Rea Vaya BRT system is also easily accessible, as is the Gautrain Park Station.
5) 90 Rivonia, Sandton
Size: 34 500m²
Webber Wentzel is one of the latest in a string of prominent national law firms that will occupy new premises in Sandton. It is currently building an 8-floor building at 90 Rivonia Road, a development that will cost around R970 million. The building is located across the road from Sandton City and conveniently close to the Sandton Gautrain Station. It offers excellent visibility onto an important thoroughfare where corporate image is everything.