Greenford office block sold to investment trust
A 555 square metre two storey office block in Greenford Office Park in Kenilworth has been purchased by Century Blue Trust for R8,3million.
The building is fully let to asset management software company, Fundamental Software (Pty) Ltd, which recently renewed its lease for a further five years.
Century Blue Trust is a private risk-managed commercial property investment trust with a growing portfolio of quality properties in great locations. Dave Welbourne, who heads up Century Blue Trust said this purchase ticked all the boxes in terms of their investment criteria.
“Although the bulk of our investments to date have been located within the burgeoning Century City precinct, Greenford is also situated in a successful high growth area, Block C which we have acquired is a high quality asset and it is fully let to a good tenant.”
The standalone building, which falls within phase one of the Greenford office park, has 34 parking bays.
Greenford, which is adjacent to the Kenilworth Race Course, is a joint venture between Rabie Property Group and Western Province Racing.
Phase One of Greenford, which is adjacent to the Kenilworth Race Course and which is surrounded on three sides by a nature reserve, boasts spectacular mountain views. It comprised 19 small office blocks totalling just over 10 000 square metres of offices.
The second phase was smaller providing a total of 5600 square metres of offices in seven buildings.
The sale was negotiated by Leigh Metcalf of Rabie Property Administrators.