Investec Property’s R100 million redevelopment and refurbishment of 345 Rivonia Road will go some way towards alleviating this problem, while at the same time giving a new and more glamorous lease-on-life to an existing asset and serving as a catalyst for similar initiatives in the neighbourhood.

The redeveloped building, which was rebuilt shell and core, has a prime position on the corner of Rivonia Road and 10th Avenue, facing onto Rivonia Road. “We want to optimise the property’s value by upgrading the property in line with market demand requirements,” comments Sam Leon of Investec Property.

“Rivonia as a node is turning around and there are a number of other exciting developments taking place in the area. 345 Rivonia Road will be high profile and visible, and is also on the planned Bus Rapid Transit route, so it will be well served by public transport,” notes Laetitia Steynberg, of Investec Property. It also offers easy access to highways and Sandton Central.

The parking space has been increased and will now provide bays in the standard ratio of 4/100m2 for offices.

Each building will have a ground floor and two additional floors, served by an attractive triple-volume entrance lobby which can be accessed by two grand entrances which encourage interaction and ease of movement between the building and the retail and restaurant offerings in the vibrant node of Rivonia.

“Tenants will be able to take up space in 345 Rivonia Road for rentals of some 20% less than in Sandton Central, and get the same quality,” notes Investec Property’s Marie-Louise Willys. Some 10,500m2 of office space will be available with office rentals from R110/m2. Willys said that leasing enquiries have been brisk since the letting campaign was launched and various large potential tenancies are under negotiation.

“The flexible office space is ideal for either a multi-tenant or single-tenant environment,” she notes. Individual spaces ranging from 300m2 to 2,000m2 will be available, depending on tenant needs and signage opportunities exist for major tenants, providing high visibility branding.

The external façades will have a sophisticated modern façade with high quality finishes – a welcome change from the ubiquitous facebrick buildings in the area. The buildings have generous spatial proportions and an outward-focused, friendly and inviting design.

Green building principles have been used as much as possible. These will be applied in line with the new Green Star SA rating system, which is being implemented in November. Investec Properties are aiming for 345 Rivonia to be the first Green Star rated building in Rivonia.

Large old trees on the site are also being retained, and the grounds will feature indigenous planting elements.

Construction is already well underway. Phase 1 will be available for occupation in early 2009 while Phase 2 is expected to be ready in mid-2009