Cape Town - The business landscape of Tyger Valley is to be complimented by a prestigious new office block development, Tyger Valley Chambers. The office block is to be erected on a prominent site of 1,2ha on Willie van Schoor drive at a cost of R130 million.

The development will consist of 15 000 m² A-grade office space with a panoramic view over the Tyger Valley Velodrome, the Waterfront and Table Mountain. The site is the last available piece of land suitable for an office block of this magnitude in an area which is becoming known as the 'Sandton' of Cape Town.

The location of the development, which will consist of five separate buildings with four storeys each, is ideal for professional business premises. A consortium of five investors is currently in negotiations to acquire the building next to Willie van Schoor drive for R27 million for letting purposes.

Care was taken for ample parking with a ratio of 5,5 bays per 100 m² compared to the norm four bays per 100 m². This will result in about 40% more parking space than the norm. Nearly all parking is under cover.

It is expected that work on the site will commence in November with the first offices available for occupation in the second half of next year. The developer is Charles Potgieter in partnership with Cape of Good Hope Bank. Derick Henstra of the architects dhk designed the buildings.

Potgieter said the timeless architecture and the location of the building with its panoramic view are main features of the development. Easy access and ample parking is also a major plus point of the development.

'The Tyger Valley area has gained much in popularity in the last few years with virtually all the buildings currently being new. The modern style of Tyger Valley Chambers will compliment surrounding buildings and provide an economic boost to the area to further enhance the viability of Tyger Valley,' he said.

Derick Henstra, senior partner of dhk, emphasized that the design of Tyger Valley Chambers is contemporary with an international flavour. The view of Table Mountain is of particular significance.

The stepped nature of the site has enabled the dhk design team to open up the views to almost all offices, and view corridors will be kept open though the lower levels of the complex.

Renier van Rooyen of Park 2000 Marketing, who will be responsible for the marketing of the development, said Tyger Valley Chambers provides an ideal investment opportunity that promises to be well sort-after.

'Location plays an important part in the value and growth potential of any property. Tyger Valley Chambers offers exceptional value in this regard with a strong potential for growth, as suitable land for development in the area decreases,' he said.

Tony van Heerden from Cape of Good Hope Bank said the ease of access and location of the development would make it most sought-after.

'We are very excited about the development and convinced that Tyger Valley Chambers will contribute to the area becoming one of the country’s most prosperous business areas,' he said.

Rental amounts to R70,95 per m² with a projected cost of R78,38 per m² with the expected completion of the building in December 2003. The purchase price is from R7 030,00 per m².