This development roll-out includes two office developments, spurred by strong demand for office space in the precinct.
The Melrose Arch Development Company and Barrow Properties are launching a new R224m sectional title office development called 3 Melrose Boulevard, which will see the creation of 14000m² of sectional title office space. Completion is scheduled for next year.
Development manager Nicholas Stopforth says the Melrose Arch Development Company and Abland will also develop 10000m² of lettable office space in a joint venture, known as The Crescent. The R160m office development will be completed early next year.
He says the demand for Melrose Arch office space has outstripped supply.
Construction has begun on the 6500m² sectional-title office development known as 1 Melrose Boulevard.
An announcement regarding a retail centre is imminent, Stopforth says.
He says there are about 4000 people living and working in Melrose Arch, and that it expects this figure to increase to 22000 by 2010 when all phases are finished.
Residential demand at Melrose Arch has seen the sale of 42 of the 47 apartments in the A3 residential scheme, a joint venture between Warner Projects and Melrose Arch Development Company. Construction of the luxury apartments has finished.
Residential development Melrose Square on Oak Lane is scheduled for completion the next year.
Construction of the luxury residential apartment development, The Lincoln at Melrose Arch, is scheduled to begin in May, with completion set for late next year.
Publisher: Business Day
Source: Business Day

