Astute buyers have snapped up 90% of The Forum, an exciting R150m new sectional title office development under construction at Century City, since its launch late last year.

Comprising a series of individual office buildings set around an open plaza, The Forum is being developed by Rabie Property Group on a prime site near the Ratanga Road entrance to the burgeoning Century City development.

Sales and letting manager Giles Balmer said less than 1000 square metres  in the 10 720 square metre development remained to be sold.  “The majority of the 28 purchasers in the development have been owner occupiers who account for about 65% of the space sold to date. Negotiations for the sale of  the last remaining standalone building of 770 square metres, and two offices of 119 square metres each,  are currently in process with three potential owner occupiers which will take the percentage of owner occupiers to well over 75%,’’ he said.   Purchasers to date include Dental Information Systems which has acquired one standalone building of about 2700 square metres and Media Monitoring which has acquired a 770 square metre building. In addition, export import business Nexxus Corporation has taken out a long term lease over two floors totaling more than 1300 square metres.

The Forum, which was a response to strong market demand for sectional title offices for small, medium and larger owner occupiers, follows the successful sell-out of the neighbouring Colosseum mixed-use development, construction of which is nearing completion. It is situated in easy walking distance of Canal Walk shopping centre and the Colosseum’s highstreet restaurants and convenience retailing.  Although forming one development, the buildings will all have their own individual character and will thus enable corporate users to reflect their own identity.

Parking is being provided on a ratio of four per 100 square metres.  Plentiful additional parking will be available in close proximity to the complex which is also very close to Century City’s public transport interchange.  Phase one of the development, which is being financed by Nedbank, is scheduled for completion in December this year with phase two following in March 2007.

For further details contact Giles Balmer on 021 550 7000