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Old May 4th, 2007, 06:10 PM   #1
Mosi-oa-Tunya
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# ABSA Towers West - Commercial - 10F - Johannesburg CBD

Name: ABSA Towers West
Use: Office
Floors: ?
Status: Planning stages
Location: Johannesburg CBD


Property24.com

R1.1bn For New Absa HO - 2007/04/03

Planning is currently in progress for a spectacular new R1.1 Billion office development, to be known as Towers West, that will be situated adjacent to Absa Group's head office in central Johannesburg. It will consolidate a number of Absa departments currently housed in leased premises throughout Gauteng and provide considerable financial benefit to the city.

The new building will span three city blocks and will comprise an office building taking up two city blocks, with a bridge over Marshall Street, and a Parkade on the third city block. Plans are also underway to include an energy centre in the development to service the surrounding Absa campus.

It is part of Absa's ongoing commitment to the regeneration and upliftment of the inner-city and is in line with President Thabo Mbeki's vision of a revitalised Africa," says Steve Booysen, Absa CEO.

"An additional 3 580 permanent Absa staff members will work in the CBD which will result in additional consumer spend and, consequently, be a boost for the region's economy.

Towers West will also promote the inner-city residential property market as increasing numbers of employees seek local, conveniently-situated accommodation so that they can reduce their transport costs," says Sipho Mashinini, managing executive: Absa Real Estate Asset Management.

When completed, the addition to Absa's campus will contribute approximately R1,2 million per month in additional revenue for the city by way of municipal utility charges and payments to third party service providers.

Article courtesy of ABSA.
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Old May 5th, 2007, 04:50 AM   #2
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cant belive this is all we know about a billion rand development
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Old May 5th, 2007, 03:44 PM   #3
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my sentiments as well! Surely they would be proudly showing off their renders? Lets just hope that they aiming for height, unlike FNB
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Old May 5th, 2007, 10:45 PM   #4
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They should build a tower ontop of the parkade, maybe 35f of mixed use. Maybe even with a hotel. That would be great in my mind. I cant understand why not even one developer has seen the impact a new skyscraper can have on the cbd area.
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Old May 6th, 2007, 09:35 PM   #5
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i almost can say 100% that it will be nowhere near 35F, thats what we all wish for, but really have zero belief that that will be achieved. probably in the region of 10-12F
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Old May 7th, 2007, 12:07 AM   #6
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oh well even if it isn't a highrise, it is a much needed breath of fresh air into the city centre, which hasn't seen a new project for a while now. and it'll bring 3000 people into the city, which will hopefully result in more restaurants/retail opening, thereby bringing more residential projects.
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Old May 7th, 2007, 04:51 AM   #7
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We dont know what ABSA have planned and I think we can only comment about number of floors ones we got details. They will obviously accomodate more than just people in that building. They obviously gonna need more space for smoking rooms, canteen, parking etc, mind you the city parking space problem.
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Old May 7th, 2007, 08:55 AM   #8
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Yep.. we're definitely going to see a multi-story parking lot, and it'll probably be very similar to the Standard Bank one.
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Old May 7th, 2007, 09:02 AM   #9
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Hows the new ABSA office in Sandton?
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Old May 7th, 2007, 09:07 AM   #10
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I hope this thing even touches 10f. It is spread over three big city blocks.
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Old May 7th, 2007, 09:28 AM   #11
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Quote:
Hows the new ABSA office in Sandton?
You're not maybe thinking of Nedbank DB? They're the only major bank not to have stayed in the city. They have that HUGE sprawling complex between Investec and Rand Merchant Bank.

ABSA has stayed in the Southeast of the city, and have also taken up office in the 'Diamond' Building.
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Old May 7th, 2007, 04:23 PM   #12
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Quote:
Originally Posted by joburg View Post
oh well even if it isn't a highrise, it is a much needed breath of fresh air into the city centre, which hasn't seen a new project for a while now. and it'll bring 3000 people into the city, which will hopefully result in more restaurants/retail opening, thereby bringing more residential projects.
Where have these been at present? i thought they had been in other buildings scattered around the cbd already? whatever the case tho, alot of people will be concentrated.

If it is sppread over 3 city blocks, than i totally doubt it will pass 10F then. because that is alot of space to cover
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Old May 7th, 2007, 05:31 PM   #13
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Quote:
Originally Posted by dysan1 View Post
Where have these been at present? i thought they had been in other buildings scattered around the cbd already? whatever the case tho, alot of people will be concentrated.

If it is sppread over 3 city blocks, than i totally doubt it will pass 10F then. because that is alot of space to cover
I know the IT people were housed in Randburg along Republic Road just a few blocks from Multichoice's offices. I know there were other buildings all over the place housing more ABSA teams.
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Old May 7th, 2007, 05:41 PM   #14
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Quote:
Originally Posted by dysan1 View Post
Where have these been at present? i thought they had been in other buildings scattered around the cbd already? whatever the case tho, alot of people will be concentrated.

If it is sppread over 3 city blocks, than i totally doubt it will pass 10F then. because that is alot of space to cover
I know the IT people were housed in Randburg along Republic Rd just a few blocks from Multichoice's offices. I know there were other buildings all over the place housing more ABSA teams.
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Old May 7th, 2007, 06:36 PM   #15
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Two city blocks will be the actual towers, a third will be a 4000 car park. And those city blocks arent huge, normal cbd cites with two previous buildings demolished to make way.
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Old May 7th, 2007, 06:42 PM   #16
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jakes do you know something we dont?? whos going to the first to break the news on this one
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Old May 7th, 2007, 09:25 PM   #17
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just ran into a short article on some property portfolio website. ABSA states that they will build a parkade for up to 4000 cars. Concerning the three city blocks? I have driven past there, and they state that in the initial framework as well. And I spoke to a few developers during the inner-city summit (but very few have a clear idea of what to expect)
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Old May 7th, 2007, 09:39 PM   #18
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The buliding behind this construction site is also under renovation.
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Last edited by Pule; May 8th, 2007 at 12:57 PM.
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Old May 8th, 2007, 08:44 AM   #19
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Quote:
Originally Posted by joburg View Post
You're not maybe thinking of Nedbank DB? They're the only major bank not to have stayed in the city. They have that HUGE sprawling complex between Investec and Rand Merchant Bank.

ABSA has stayed in the Southeast of the city, and have also taken up office in the 'Diamond' Building.
Im not going crazy, I know there is an ABSA office being built or already built in Sandton, I think its for the treasury & gold debentures dept, not an HQ will give you more info on it, I'll contact my cuz, his going to be working there.
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Old May 8th, 2007, 10:48 AM   #20
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its wierd that they dont tell anyone anything.
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