A 555 square metre two storey office block in Greenford Office Park in Kenilworth has been purchased by Century Blue Trust for R8,3 million.

Six of the seven office buildings in phase two of the Greenford Office Park in Kenilworth, have now been sold or let with strong interest being shown in the remaining block.

Already at ground level, with all three floors of basement parking completed, construction work is progressing well on the prominent site of the new P-Grade (or AAA Grade) office and retail building, Pam Golding on Main in Kenilworth, Cape Town.

Construction is under way on the site of the new AAA-grade office and retail building, Pam Golding on Main, which is being developed in a prime, prominent location on the corner of Main and Summerley Roads in Kenilworth, Cape Town.

A new 800 m2 office block, which forms part of the second phase of the hugely successful Greenford Office Park adjacent to the Kenilworth Race Course, is nearing completion.

Almost 12 years after the first phase was completed, construction of the first three buildings in the second phase of the low rise Greenford Office Park adjacent to the Kenilworth Race Course is underway.

Phase One of the sectional title office park, which is surrounded on three sides by a nature reserve and enjoys spectacular mountain views, comprised 19 small office buildings totaling just over 10 000 square metres.

Phase Two of Greenford Office Park will comprise a total of 5300 square metres of A-grade offices in 10 one and two storey buildings with a total development cost in excess of R80million.

Designed by Stauch Vorster Architects in a modern Cape vernacular, the buildings range in size from 230 square metres to 822 square metres, with configurations of offices for sale ranging from 140 square metres through to 1300 square metres.

Fronting onto the nature reserve, the buildings will be set in beautifully landscaped gardens with a large water feature providing a tranquil working environment. A number of outdoor recess areas where office workers can relax and enjoy the natural environment will also be created.

Selling prices, which include A grade finishes and parking, vary between R14500 and R15500 a square metre excluding VAT.

On-site parking will be provided at a ratio of four per 100 square metres with a number of the buildings offering basement parking.

Steve Cloete of the Rabie Property Group says the site was the last remaining one for development in the area and was ideally located close to M5 and the recently refurbished Kenilworth Shopping Centre. As such they expected strong demand from both owner occupiers and investors, particularly now that the as the economy was picking up.

“We are undertaking a phased start of Phase Two beginning with the first three office blocks, which are connected by a common basement. The work currently being done will see 65% of the bulk services completed and construction of the first three offices up to ground floor level providing a defined building platform for each block.”

Cloete said Phase One had sold out extremely quickly and since inception vacancies had been negligible with many of the original tenants still in place and the vast majority of original landlords having held onto their properties.

“We had initially applied to do the entire development in one go but certain environmental and traffic conditions had to be met before they could proceed with phase two. The lengthy gap between the two phases shows how long it can take to get rezoning approvals in place for green fields developments!”

Rabie Property Administrators (RPA) has acquired the management contract for the Rosmead Shopping Centre in Kenilworth bringing their portfolio under management  to more than R3,8 billion and a total GLA of just under 300 000 square metres

A prominent and well positioned site on the corner of Summerley and Main Roads in Kenilworth, Cape Town, is being redeveloped into a prime AAA grade commercial property which is expected to act as a catalyst for urban renewal in the area. Owned and developed by the Pam Golding Property group ‘Pam Golding on Main’ will comprise 4100sqm of offices and retail space, as well as 129 parking bays on two floors of secure, undercover parking.