Chris MacKrill, leasing manager for Growthpoint, said they had recently let one of their six buildings in The Estuaries office park at Century City to Postilion International, a global leader in the provision of payment software solutions, to house its Africa head office.

The company has taken a five year lease on a 2500 square metre office block, one of six acquired by Growthpoint for a total consideration of R170million.

MacKrill said they had also secured high profile tenants for two of their other buildings in the office park.

AIG has taken a five year lease on 700 square metres of the 1 100 square metre Building F for its regional head quarters with Old Mutual Private Wealth taking a five year lease on Building D, a 1500 square metre building.

MacKrill said negotiations with potential tenants were currently underway for their remaining triple A-grade buildings which range in size from 930 square metres to 3700 square metres with exclusive naming rights available for tenants occupying an entire building.

The low-rise buildings, which interface seamlessly with both the urban and natural environments, comprise a total lettable area of 9 750m².

The Estuaries, which comprises 18 office buildings in total, is conveniently situated with easy access from major highways in the growing node of Century City. The Estuaries is also benefitting from the new neighbouring transport interchange system at Century City in addition to the wide-spread amenities available in the thriving mixed-use precinct which incorporates both residential and retail facilities including the Canal Walk shopping centre.

Century City has seen the bulk of new office development in the Western Cape in recent years. Chris Blackshaw, CEO of the Century City Property Owners’ Association, a section 21 company that represents all stakeholders at Century City, said there had been a number of significant lettings in the burgeoning precinct in recent months which was mopping up a lot of the vacant office space which stood at around 13% in the most recent SAPOA office vacancy survey.

“We understand that there are currently a number of other major deals under negotiation, which if successful, should make a further significant dent in vacancies.

“Coupled with the continued demand for office space within Century City as well as the strategic approach being taken by the lead developer the Rabie Property Group to limit further speculative development to an absolute minimum, we are confident vacancies will be negligible in the not too distant future.”