New mega head office development for Sandton CBD

Posted On Tuesday, 23 November 2010 02:00 Published by eProp Commercial Property News
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Nedbank Corporate Property Finance is funding R840 million for the development of a new head office for Alexander Forbes in Sandton, on behalf of Zenprop Property Holdings (Pty) Ltd

Ken ReynoldsOnce refurbished, 115 West Street will comprise an eight storey 36 950m² office building with plant-filled outdoor areas, natural light and energy efficient lighting. High speed lifts, escalators and state-of-the-art auditoriums will feature the latest technology and the building will boast an in-house gym, coffee bar and staff restaurant.

The building will accommodate Alexander Forbes’ 2 200 Johannesburg staff and, for the first time since 1994, most of the firm’s major divisions will be in the same building. The property is across the road from the Gautrain station and in close proximity to the BRT route, allowing staff and clients easy access to public transport, thus reducing vehicle dependence. The building has also been designed in such a way that it is sub-divisible to allow for multiple tenants.

This will be Zenprop’s largest commercial property development in Sandton, and in terms of its scale and environmental innovation, will become Zenprop’s flagship South African commercial property. Construction has already commenced and Alexander Forbes is expected to take occupation on 1 October 2012.

Ken Reynolds, divisional executive for the Gauteng division of Nedbank Corporate Property Finance said this will become one of the premier properties in the Sandton CBD, an area that remains the retail and financial powerhouse of Southern Africa. “Little comment is required on the importance of Sandton Central, being home to the Johannesburg Stock Exchange and other major corporations including a number of banks. For some time, Sandton has been considered the new financial centre of South Africa – if not Africa as a whole – and Johannesburg's premier business node.

The most recent addition to Sandton is the Gautrain station which has greatly improved access into Sandton CBD. Investors are showing enthusiasm for the acquisition of land or buildings for redevelopment close to the Gautrain station and it is envisaged that the area surrounding the station will be the centre of sustainable growth in the value of commercial property.”

Last modified on Friday, 22 November 2013 13:34

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