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Growthpoint Properties concludes R100m warehouse development
Growthpoint Properties Ltd and Grundfos South Africa have concluded a leasing deal where Growthpoint will develop a 10 000 m2 building in Meadowbrook, Germiston, custom designed to give Grundfos a 100% fit. Feb 03, 2012
Johannesburg Commercial Property Report : 2011 4th Quarter
Jones Lang La Salle has just released its Q4 2011 on the status of the commercial property market in Johannesburg. Office Market Despite the flat line economy seen during the last quarter of 2011, an improvement in office space rentals helped to secure minimal increases and reduced vacancies in the more prominent nodes in the Johannesburg office market. Feb 01, 2012
Office space vacancies reducing in Growthpoint’s portfolio
When Growthpoint successfully leased two prime office blocks in Cape Town recently, it’s vacancy footprint in that city moved below 5%. SAPOA’s statistics for the Cape Town CBD show that office space vacancies stand at 10.2% while the high demand nodes of Century City and the V&A Waterfront stand at 8.7% and 5.7% respectively. Jan 25, 2012
Commercial property sales boost Emira Property Fund by R260m
Since the beginning of its 2012 Financial year Emira property Fund (EMI) has raised in excess of R260m through the sale of eleven properties in its portfolio. Jan 25, 2012
Upmarket Katherine & West Office Development Selling Well
Almost 40% of the Katherine West Development in upmarket Sandton has been sold. With 4 of the 7 penthouses sold off plan and with another 10% of the total office space currently under negotiation, this development is set to become a landmark in prestigious office space. Jan 19, 2012
More news…
 

Upmarket Katherine & West Office Development Selling Well

Almost 40% of the Katherine West Development in upmarket Sandton has been sold. With 4 of the 7 penthouses sold off plan and with another 10% of the total office space currently under negotiation, this development is set to become a landmark in prestigious office space.

Katherine & West represents a unique investment opportunity in the heart of Sandton. It is situated in a AAA position only 50m from the Sandton Gautrain Station.

The completed building will have 8 floors of office space and 2 floors of residential apartments. 6 levels of basement parking also provide generous allocation of parking (4 bays for each 100m2 of office space).

Paul Barrow, director of developers, Barrow Properties, says that, given the current downturn in the economy, it is apparent that the demand for AAA office space is still viable with B and C grade buildings coming under pressure. “We are catering for companies from 120m2 to 1000m2. We are not competing at 2000m2 and above where there could be some strain” says Paul Barrow.

A news release in 2011 described the sectional title part of the development as “AAA” grade office space which is quite rare in Sandton, where massive buildings and sites belong to heavyweights like Nedbank, the JSE (Johannesburg Stock Exchange) and numerous other entities.

It said: “Forty five sections of ‘AAA’ grade office space are being marketed, ranging from 120m² to 1000m² at R23 900m².” This includes basement parking, storerooms and balconies ensuring an entry level price of R3.9m.

Major purchasers will also have the option of buying entire floors of just over 2000m².
 

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