30 Nov 2004

The wraps are off a new R50-million office, parking and motor dealership project in Cape Town's Culemborg district on the Foreshore, which is set to transform the area and provide new impetus for further upgrades and development in the area.

Already the area has emerged as an ideal motor industry node - but the newlook aluminium clad ultra modern building offering 8800m2 of motor dealership space and up to 3000 m2 of A-grade lettable office space - will add a new dimension.

It will also provide two floors (290 bays) of undercover secure parking - which is in short supply in the area.

Ian Bell Chairman of Reeds Motor Group - one of the largest general motor dealerships in the country - says the area is perfectly situated close to the city centre with direct access to both N1 and N2 freeways. It is also close to the Cape Town Convention Centre and Civic Centre and commands superb views of Table Mountain and a five minute walk from Cape Town station.

The building which will be named Reeds House, will house the newlook downtown Reeds dealership as its anchor tenant and also has superb office space and enough parking for around 250 cars.

A penthouse office suite - offering around 850m2 of office space with superb views - is also available to rent.  "We made a strategic decision in our plans to develop the site to include more than enough parking as it is a real premium in the area,' he said." The building is set for completion in August in 2005 and is expected to draw interest from would be office space seekers.

Mr Bell says once complete, it will provide a new face for the rebranded and improved Reeds operation in the wake of the Group's global alignment with General Motors. Further large investment by Reeds includes an all new Parow Dealership on Durban Road Tygervalley and the relocation of its Parow Dealership to N1 City.