Bill Grantham of Golding Commercial Properties, and Max McLoughlin of Maxiprop, have co-brokered a transaction for the lease of a sizeable area of A-grade office space in 'The Terraces', one of Cape Town CBD's prime, landmark buildings which is situated in Bree Street.

The five-year lease represents a capital value of R4.3 million, and comprises 886sqm on the 12th floor of the building, which provides tenants with spectacular views over the city and Table Mountain. As the name of the building implies, the office accommodation includes spectacular terraces ideal for entertaining or taking time out from a hectic work schedule to admire the unsurpassed views of Cape Town.

Says Grantham, a director of the leasing and sales division of Golding Commercial Properties - a member of the Pam Golding Property group: "'The Terraces' is owned by a consortium which has added value and provided a more attractive parking ratio by acquiring and developing the garage directly opposite. It provides some of the city's most desirable office accommodation, with superb facilities at a realistic rental, and this area became available when the previous tenant, Price Waterhouse, moved to Century City.

"The recent growth of new tenant Top 300's business had resulted in their present offices being spread over two separate buildings in the CBD. This move to The Terraces consolidates their offices back into single premises with obvious improvements in terms of productivity and efficiency."

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Issued by Gaye de Villiers

Tel: 021 6837788 or 083 325 1939

On behalf of Golding Commercial Properties