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Discussion Starter · #1 ·
Century City offices for sale & to let : Central Park third phase launching soon
Posted on May 25, 2012 by Natasha



The third and final phase of Central Park, an 18 000 square metre low rise office park situated around a village green at Century City, is to be launched shortly. This follows the successful completion of the first two phases of the development comprising 10 standalone buildings totalling around 12 000 square metres .

Giles Balmer of developers, Rabie Property Group, said sales and lettings in phase two of Central Park, the Courtyard precinct, had gone well with one building having been let to BASF and 65% of the 18 units in a second 2200 square metre sectional title building having been sold and the balance under negotiation.

Construction of phase two is nearing completion and transfer of the units will be from August 2012.

Phase three, he said, would comprise five free standing buildings ranging in size from 768 square metre s to 2012 square metres. Construction of the first building of around 1000 square metres was expected to start shortly. Balmer said the decision to commence construction of the final phase was indicative of the developer’s confidence in an improving property market over the next 12 months as well as a significant decrease in office vacancies within the Century City precinct.

“Office vacancies have fallen from a peak of 12% 18 months ago to around 8% and are expected to dip under 7% by the third quarter of 2012 , a trend which will hopefully continue into 2013,” he said.

Offering intimately planned, village scale office buildings in three unique but interrelated office parks set around a lush open field where regular sports and community events are held, Central Park is in easy walking distance of all Century City’s amenities including the public transport interchange and the Canal Walk Shopping Centre.

“In fact Central Park was planned as the focal recreational hub for the greater Century City precinct and is also home to a Clubhouse, a community square and the offices of the Century City Property Owners’ Association, the non-profit company responsible for the day to day running of the 250ha development,” says Balmer.

A bridge providing the main pedestrian access point for Intaka Island, Century City’s award-winning nature conservation wetlands, leads off the community square.

For further details contact Giles Balmer or Sedica Knight on 021 5507000.

Source: Rabie
 

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Another angle, taken Saturday 29 Oct:

 

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R350m Central Park Century City offices nears completion
May 9, 2014

The third and final phase of Central Park, an 18 000 square metre low rise office park situated around a village green at Century City, is nearing completion.

The R350million development comprises a total of 14 buildings all of which have been sold with the last two having recently been acquired for a day hospital and doctors’ suites.

A 2000 square metre building which will house the 24 bed Intercare Day Hospital Century City and doctors’ consulting rooms is under construction with completion scheduled for early next year. The day hospital will comprise three surgical theatres, a minor procedure room and laser unit, xray facilities and a dispensary.

A second building of 1000 square metres, which has just been completed, will house additional consulting rooms for doctors.

Also forming part of phase three are two additional office buildings – one of 700 square metres which has recently been completed and will be the new home of Newsclip and a 1600 square metre office block, still under construction, for law firm, Von Seidels.

Colin Anderson, a director of the developers the Rabie Property Group, said Central Park had been developed in response to market demand over the past five years.

Central Park Century City offices

“Its success even during tough market conditions was helped by the fact that it catered for a wide range of users with offices varying in size from as small as 80 square metres to 2200 square metres. Also underpinning its success is the fact that Central Park is in easy walking distance of all Century City’s amenities including the public transport interchange, Intaka Island nature conservation area and the Canal Walk Shopping Centre. In fact Central Park was planned as the focal recreational hub for the greater Century City precinct and it includes a Clubhouse, a community square and the offices of the Century City Property Owners’ Association, the non-profit company responsible for the day to day running of the Century City precinct.”

Anderson said the success of Central Park and the recently completed neighbouring Quays commercial node which comprises 39 low rise studio offices from 41m2 to around 400m2 and a TriBakery restaurant had prompted the launch of a new R120million sectional title office development, Grosvenor Square the anticipated completion date is end 2015.

“Providing a total of 5364 square metres of offices, Grosvenor Square will combine winning elements of both developments offering purchasers flexible options from 90 to 3000 square metres.”

For further details on Central Park Century City offices contact Giles Balmer or Sedica Knight on 021 550 7000.

Source: Rabie

 
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