A NEW R600m office tower is to be built in the Sandton central business district.
Brokers Broll Property Group says Alice Lane Office Towers, which is being jointly developed by Zenprop and Tiber, will be 18 storeys high.
Law firm Deneys Reitz is taking two-thirds of the space.
Fran Teagle, director of commercial broking for Broll in Gauteng, says construction will begin this month with completion scheduled for August 2010.
The 20000m² development will consist of one building but it will look like there are two towers. Anthony Orelowitz, of Paragon Architects, is the designer. Teagle says Broll is in talks with other potential blue-chip tenants.
Deneys Reitz chairman Michael Hart says the firm’s existing building is not big enough for its expanding business.
“With seven of SA’s major firms located within a kilometre of each other within the Sandton Central node, we definitely wanted to stay within an area that has become the central financial district and the central legal district, and certainly believe we have secured the best site available,” says Hart.
Rodney Weinstein, CEO of Zenprop, says the development is a continuation of the company’s strategy to be invested in Sandton, SA’s prime office node.
Its Sandton Central projects include Werkmans, Routledge Modise, Sun International and The Chambers in Fredman Drive, 3 & 4 Sandown Valley Crescent and Peregrine House.
