CT office block nearly completed

Construction of a new 3,000sqm sectional title office block at Century City is nearing completion and a large portion of the units have been snapped up.

To date investors have snapped up 70% of the 23 sectional title office suites in The Gatehouse with strong interest being shown in the remaining seven units which are available for either rental or to purchase, says Colin Anderson of developers the Rabie Property Group.

Office suites range in size from 69sqm to 1,000sqm.

The R50m development, which is being built on a prime, high visibility site at the busiest entrance to Century City, is due for completion in July this year with occupation and transfer anticipated for late July.

The Gatehouse follows the successful sell-out and completion of a neighbouring sectional title office development, The Forum.

“Sales to date at The Gatehouse have been primarily to investors who see the benefit of adding an affordable commercial property investment to their portfolio and leveraging their investment, particularly in the current climate of lower interest rates,” said Anderson.

The building, which enjoys excellent visibility from the busy Ratanga Road, is situated in a vibrant business precinct which is also home to the new state-of-the-art Virgin Active health club, the trendy Colosseum mixed use development which includes convenience retailing, cafes, restaurants and a hotel and the mega R750m Crystal Towers development which comprises a 180-room five star hotel and spa, 91 luxury apartments, 7,500sqm of offices and restaurants.

“As such it is ideally situated for small to medium size companies who may not have their own boardrooms or canteens as there are numerous venues in easy walking distance where one can meet clients or grab a bite to eat,” says Anderson.

The three-storey building is situated alongside the landmark BMW Gateway building and has been designed by architect, Tim Hughes, to form one harmonious whole with it incorporating a piazza area between the two buildings.

“A signature feature is the plate-glass entrance atrium. The building has been designed to provide internal access to each of the suites with a shared reception and entrance foyer providing small to medium users with the benefits normally only found in large corporate office buildings,” he said.

Parking is being provided at a rate of four bays per 100sqm with ample visitor bays and additional parking available at the nearby e-parking, Century City’s park-and-ride facility.

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