Growthpoint Properties invest R13m to redevelop prime Sandton site

Posted On Thursday, 07 March 2013 15:47 Published by Commercial Property News
Rate this item
(0 votes)

Growthpoint Properties investing R13 million to redevelop this prime site on the corner of Bowling and South Roads in Sandton for ICR Electrical

Commerce Corner SandtonGrowthpoint will develop Commerce Corner to the latest standards, with a refreshed modern design, new exterior facade and innovative green building features to match the building's excellent location.

Spanning some 3,500sqm, Commerce Corner's excellent visibility, access and location were all draw cards for ICR Electrical, one of the largest electrical service organisations in South Africa with extensive expertise covering all aspects of the electrical construction industry.

ICR electrical will occupy 1,500sqm of the revitalised building, with the remaining 2,000sqm available as new showroom or office space, and will be developed for future tenants requirements.

Stuart Buss, Executive Chairman of ICR Electrical says: "We needed premises with the right location, in a good area which offered access to transport so our teams can easily access construction sites on which we are operating. It also had to make financial sense for our business. Commerce Corner provides an ideal high-visibility location. Growthpoint took a sustainable approach to our business and is running with us as long-term partners."

Engelbert Binedell, Growthpoint Properties Industrial Division Head, says: "It has been a pleasure working with ICR Electrical to pinpoint a position from which it can continue to thrive and create a space that meets the needs of this successful business. Growthpoint's investment in redeveloping Commerce Corner is beneficial for both owner and occupier, it also contributes to the appeal of this established business node."

ICR Electrical's move to Commerce Corner reflects this dynamic business's confidence in the South African economy. "The construction sector has had a tough time, but we are seeing new green shoots coming through and ICR Electrical is well positioned to take advantage of the uptick in the sector. We wanted to make a statement to our clients and business partners, and Commerce Crescent says it for us: We are stronger than ever and ready for business." says Buss.

From its high-profile position, the redeveloped Commerce Corner enjoys a central location with excellent visibility and easy access both to the N1 and N3 highways.

Leon Labuschagne of Growthpoint Properties Development Division, says some exciting features will be added to the building to make it user friendly and more environmentally focussed.

"The showroom area of the building will receive a fresh new facade with performance glazing to reduce heating and cooling costs. Energy efficient lighting will also keep electricity costs down too," explains Labuschagne. Commerce Corner will also feature an open-air roof garden, with magnificent views of the Sandton skyline.

Construction on Commerce Corner began in February 2013 and will be complete by June 2013, including the available 2,000sqm which spans two floors of 1,000sqm each. "Besides all the benefits that ICR found in this address, this space is ideal for any business wishing to showcase its product to clients or the public. The area is well-known hub for home improvements, decor, design and furnishing businesses," says Joanne Scott of Growthpoint's industrial team.

Growthpoint Properties is the largest South African listed property company with property assets valued over R50 billion found throughout South Africa. Its industrial portfolio comprises 223 properties.

Last modified on Sunday, 09 June 2013 10:53

Please publish modules in offcanvas position.