R40m office park expands Sandton office node

Posted On Wednesday, 04 September 2002 10:01 Published by
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Freestone Park, a R40m development by Pegasus III Properties, is the latest addition to Sandton's crowded office market
Freestone Park, a R40m development by Pegasus III Properties, is the latest addition to Sandton's crowded office market.

It has a lot going for it, especially its location on the fringes of the upmarket suburb of Atholl.

'There was considerable opposition from residents to the rezoning of the property,' says Pegasus MD Pieter Mackenzie , 'but we worked with the ratepayers and convinced them it would be an aesthetically pleasing building. I don't think they will be disappointed.'

Freestone Park, due for completion by Tiber Construction in mid-September, backs onto busy Katherine Street at the corner of Dennis Road, with the entrance in Patricia Street. It is a few minutes from Sandton City and close to the M1 motorway.

The 'classic modern' twostorey building of 5400m² is clad in sandstone and spread over three wings, with basement parking stretching its full length. The developers have retained the mature oaks that graced the garden of a former home owner, and landscaping will include a prominent water feature.

About two-thirds of the space has been let, and discussions with two more clients are at an advanced stage, says Mackenzie.

The major tenants, Coronation Capital a division of the financial services group will occupy 1800m², while another financial services company, African Harvest, has taken 900m².

Corovest, the property financial services group that has Pegasus as its development arm, will be based at the office park, along with Coronib, a property asset management company which is a joint venture with Nedcor Investment Bank.

The new building forms an office node with nearby Grayston Ridge Office Park and Pinmill Farm, on the far side of the Grayston Drive fly-over, where other office developments are in the pipeline.

Business Day

Publisher: Business Day
Source: Business Day

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