Barrow Properties/Vunani confirm that the phased development of the R300m Greenstone Hill Office Park in the burgeoning Modderfontein business, retail and residential node served by the Gautrain, is nearing completion.
Construction work is well advanced on the final three buildings which offer a combined floor area of 7000 sqm for lease. Twelve previously completed buildings are already occupied, with the majority having been let and the balance sold.
The final three buildings, comprising two of 2100sqm in extent and one of 2900sqm, are linked by a ‘super basement’ which lends itself to occupation by one large tenant if required. The basement offers a generous parking ratio of five bays per 100 sqm.
Of these, building 12 is ready for fit out, the 2900 sqm building 11 will reach fit out stage in August and building 10 follows shortly thereafter,
At rentals of R110/sqm (gross) the office park represents exceptionally good value for ‘A’ grade office space comments Paul Barrow, Development Director for Barrow Construction.
“The office park is complemented by the nearby Greenstone Shopping Centre and Stoneridge Mall which offer our tenants a comprehensive, full spectrum of services.
“In addition, this node has been planned and serviced by a magnificent new road network, which provides ready access from Greenstone to the Sandton CBD, OR Tambo Airport, Pretoria and the ring road system of Johannesburg.
“Moreover, the new Gautrain station, which has already been built within Modderfontein, will be commissioned shortly, thus introducing another unique attribute to the node.”
The existing mix in the office park includes ‘blue chips’ such as regional airline, SA Airlink, the Independent Regulators Board of Auditors (IRBA), Hudaco and UTI Worldwide, the international, non-asset based supply chain solutions planning and optimisation company.
The development is a Barrow Properties, Vunani Properties and Sherratt Property Ventures joint venture within Heartland Properties’ Greenstone Hill mixed-use precinct, with its various retail, commercial, residential and industrial segments.
Adds Barrow: “The office park has proved to be a great success. The concept of an ‘A’ grade office environment in a themed, secure, exquisitely landscaped setting on the Eastern side of the city has proved to be a unique product and an offering that the market has welcomed.”
For further information contact Paul Barrow at 011 727 3600 or 083 253 9387.