RMB PROPERTIES’ NEWLANDS TERRACES TO OFFER BRAND NEW PRIME OFFICE SPACE WITH A BREATHTAKING MOUNTAIN VIEW

(Cape Town, 8 April 2005)  RMB Properties will shortly be introducing approximately R 40-million worth of prime office space, to be known as Newlands Terraces, onto the market.  The development is to be funded by the Momentum Group Limited who own Great Westerford a landmark building on the corner of Dean Street and Main Road.

To be situated opposite the world-famous Newlands Rugby Stadium above the Western Province Rugby Union’s parking garage, Newlands Terraces will offer over 4 000m² of premier rentable office space, and is likely to be one of the most exclusive and prestigious business addresses in Cape Town.  

Martin Rippon, RMBP’s General Manager for the Western Cape, says, “The Claremont/Newlands/Rondebosch area offers approximately 212 000m² of A and B grade office space and vacancies in this precinct have steadily declined from 20.6% to 6.2% over the past 18 months off the back of the imminent conversion of a large chunk of existing offices to residential apartments in the Claremont CBD as well as ever improving confidence levels in the economy.”

He adds, “The area is home to leading educational institutions, sporting and sports-related facilities and Newlands Terraces will provide office space with excellent exposure and easy access and egress to the Main Road, M3, M5 and N2 in a popular suburb that has a limited capacity to offer further prime zoned commercial land.”

RMB Properties are proud to announce that Newlands Terraces will also be the prestigious new home of the Western Province Rugby Union.  Being in the centre of the Newlands Rugby, Cricket and Swimming precinct, it will be an address that should be particularly attractive to corporate and sports-related businesses.

Theuns Roodman, CEO of the Western Province Rugby Union, said, “We are delighted at having Newlands Terraces with its five-star facilities as our business address.  Its proximity to the Newlands Rugby Stadium makes perfect sense in terms of conducting our core business.” 

In close proximity to public transport, shops, schools and medical services, Newlands Terraces is located 15 minutes from the Cape Town CBD and Century City and 20 minutes from Cape Town International Airport.

Rob Addison RMB Properties’ Development Manager says “This office lifestyle development will enable one to enjoy large landscaped balconies with magnificent mountain views and there will also be ample secure and convenient parking below. 

“Much emphasis has been placed on a stylistic approach to the development’s design, ensuring a calm, contemporary, stable status building that has a look that will not date.  

“The office development will be flexible in design to tenants who have a need for office suites ranging from 150 m² to 1 000 m² per floor.”

As part of its commitment to urban regeneration, RMB Properties’ investment will extend to a commitment to the aesthetic improvement of the area surrounding Newlands Terraces through paving and greening programmes. 

The development is due to be completed in the first quarter of 2006. 

To ensure your Company’s grandstand view in Newlands Terraces, phone Gavin Hiscock at RMB Properties on (021) 658 0189.

ENDS

For more information please call:

Martin Rippon            RMB Properties                         (021) 410 1160
Glynis Abrahams          Corporate Image                        083 302 2289