Growthpoint Properties Limited has acquired a premium R121million office building, Willowbridge Place, in Tygervalley, Cape Town.
Conveniently placed near the Durban Road on- and off-ramps, Willowbridge Place comprises two office towers and presently offers lettable area of 6,110sqm in one office tower and 495sqm of retail space. Excellently located, on the corner of Carl Cronje Drive and Old Oak Road, near the N1, the premier commercial building is in a growth node away from the city’s major traffic congestion in a tranquil setting.
Growthpoint is the largest SA listed property company with assets over R50 billion throughout South Africa and Australia. Its SA portfolio, valued at R33.7 billion, comprises over 412 properties. It also owns 50% of the landmark Victoria & Alfred Waterfront. Growthpoint provides more than 5,4 million square metres of office, industrial and retail space to leading businesses.
Rudolf Pienaar, Growthpoint Properties Divisional Director for Offices explains: “Willowbridge Place offers many distinctive benefits for the Cape Town office market. This asset furthers our green building drive and improves our portfolio of quality investments.”
Gregg Huntingford of Growthpoint Properties Cape Town office division is positive about office property fundamentals in Growthpoint’s Cape Town portfolio.
“Growthpoint’s Cape Town office portfolio is performing exceptionally compared with the industry average. We have a low 2.5% vacancy in our Cape Town office portfolio of 273,000sqm of offices. Our vacancies have improved dramatically since 2009,” says Huntingford.
In contrast, the overall office sector in Cape Town is experiencing relative high vacancies, especially in the CBD at 12% and Claremont where office vacancy levels are between 15% and 20%. In Century City, office vacancies are about 8%.
“A major contributor to Growthpoint’s Cape Town office portfolio performance is our focus on quality assets and investment in office upgrades. This increases the quality and attractiveness of our properties,” says Huntingford. “Nurturing good client relationships is a focal point for Growthpoint, resulting in the positive retention of tenants.”
Contributing strongly to its growing popularity with Cape Town’s business community is Willowbridge Place’s superb synergy with nearby amenities, including Tyger Valley Shopping Centre and Willowbridge Shopping Centre. It’s also near public transport, including buses and trains.
The five-level multi-tenanted quality office development features a spaciously elegantly modern reception lobby on ground level. There is ample secure basement parking at Willowbridge Place, for staff and visitors alike. It has access control and 24-hour security with CCTV.
Offices at Willowbridge Place start at 1,100sqm to 6,110sqm, and provide for tailor-made space planning and flexibility.
Willowbridge Place is also benefiting from Growthpoint’s energy-efficiency and sustainable development expertise. Growthpoint has already achieved two 4-Star Green Star certifications for recent office developments. It will also be seeking certification on five further developments. It has developed over R3 billion in new offices.
“Our goal is to give users the best experience. We aim to balance aesthetics, functionality, flexibility, sustainability and energy efficiency when we build new offices. We believe Willowbridge Place achieves this,” says Pienaar.
Energy efficient measures at Willowbridge Place include a lighting management system linked to air conditioning for best use of natural lighting as well as heating and cooling. Efficient luminaries, diesel generator back-up power, a central UPS system and water storage tanks all add to the innovation in this cutting-edge office building.
Even its design is energy efficient. This contemporary commercial building responds to its climatic position, while taking advantage of the views from the office levels. It allows ample natural light in on the north and south facades, while shading the east and west with slot windows.
“Willowbridge Place’s prominent east and west facade makes best use of its frontage on Carl Cronje Drive and facing Willowbridge Shopping Centre, affording businesses enviable signage visibility on this busy road,” notes Huntingford.
Construction of Willowbridge Place began in late 2011, and the offices will be complete in early 2013.
For more information or to enquire about offices at Willowbridge Place,
contact Greg Huntingford at firstname.lastname@example.org