Kenilworth offices : New R80million sectional title office park for Kenilworth

Kenilworth, Kenilworth offices : New R80million sectional title office park for Kenilworth, Rabie.co.za

Artist impression of Greenford II

A second phase of the extremely successful Greenford Office Park adjacent to the Kenilworth Race Track is to be built at a cost of just over R80million. Surrounded on three sides by a nature reserve and enjoying spectacular mountain views, the site is the last remaining one for development in the area where there is huge pent-up demand for offices from both owner occupiers and tenants, says Jon Sparks, project manager for developers the Rabie Property Group. Phase 1 of the low rise sectional title office park, comprising 19 low rise office buildings totaling just over 10 000square metres, was completed in December 2000. Designed by Stauch Vorster Architects in a modern Cape vernacular, Phase 2 of Greenford Office Park will comprise a total of 5300 square metres of A-grade offices in 10 one and two storey buildings. 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. 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. 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. Sparks said the development was ideal for either owner occupiers or investors as there was strong demand from tenants for offices in the area. “Phase One of the development sold out extremely quickly and since inception vacancies have been negligible with many of the original tenants still in place. Also indicative of its success, the vast majority of original landlords have held on tightly to their properties.” He said they 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!” Sparks said that with very little new development having taken place in recent years in the southern suburbs and the fact that this was really the last opportunity to buy new office space in Kenilworth and its superb location close to the M5 and the newly revamped Kenilworth Shopping Centre, they expected a strong response from the market. Clearing of the site will start in September with construction getting underway in November and completion scheduled for the end of 2012. For further details contact Giles Balmer or Sedica Knight on 021 550 7000.

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