Nick Wilson

Over the next three to four years a large R700m office park development is to be rolled out at the Corlett Drive exit of the M1 highway, diagonally opposite mixed-use precinct Melrose Arch.

Called Waverley Office Park, the development will ultimately include 35 000m² of office space, say developers Vlaming, Devcon Projects and Top-Flite Properties.

The group of companies are developing the park in a joint venture called New Order Investments.

Jan Vlaming, MD of Vlaming, says the developers expect to start earthworks in about three weeks’ time. “Six weeks thereafter we expect to start construction,” he says.

Vlaming says the development will be rolled out in phases with the first part of phase one offering 6 000m² of space.

“We hope to roll into the second part of phase one in about four months and that will be about 5 500m²”

He says about 16 houses were situated on the site that will include the phase one development and that all of these have been demolished.

“The site is bare at the moment. We have received tenders for earthworks, which are due to commence shortly.”

Vlaming says the first phase of the development has all the necessary rights and electricity supply available. He says the developers have also received notice that 50% of phase one has been sold.

Vlaming says the node where the park is being developed is already a “prime business area and, with higher fuel costs, ease of access is becoming increasingly important and centrally located offices are proving exceedingly popular”.

“There is strong demand for quality office space and Waverley Office Park is well timed to benefit from this.”

Imperial Bank will be providing the finance for the development of the Waverley Office Park. Devcon says the “status and energy which began with Melrose Arch has certainly swelled into neighbouring nodes”.

Source: Business Day