In fact 14 of the 39 units have been sold to date for a total consideration of R28million with a further eight totalling R16million under negotiation. This equates to 2243 square metres out 3586 square metres or 62% that has been sold or reserved to date.
The development, which is under construction on a site between the Waterstone residential development and the Central Park commercial node, comprises low rise studio offices ranging in size from 41m2 to 228m2 , excluding balconies, and priced from around R800 000, ex VAT.
Giles Balmer of developers Rabie Property Group said the Quays commercial node was part of a mixed use development including apartments and a restaurant.
“It has an intimate scale and embraces both the neighbouring residential developments – Quayside and Quaynorth as well as the Waterstone complex – and the Central Park commercial node and as such acts as an interface between the various components.
“It has been designed to enhance the pavement ambiance of this increasingly popular area where parents drop their children off at playschool, people arrive for functions at the Clubhouse or on the field, canoeists amble or row past and bird watchers arrive in great numbers to visit Intaka Island nature reserve. It really is unique. ”
Balmer said the development had appealed equally to investors and smaller owner occupiers such as service providers and professionals looking for an affordable entry into commercial property ownership at Century City.
He said it was proving popular with the likes of doctors, dentists and financial advisers.
The low rise offices are set around courtyards and a water-fronting piazza and bistro restaurant.
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.
Construction is scheduled to get underway in early 2013 with occupation expected in March/April 2014.
For more info go to www.thequays.cc