The most expensive office space in South Africa will soon be located in an iconic position 50m, or 16 floors, above ground with uninterrupted views of Table Mountain, the Atlantic Ocean, the harbour and the city of Cape Town.

The 16th storey penthouse suite of Cape Town’s premier business address, the superbly located Convention Tower, will be available at R200/m2 for some 1,200m2 of office space and balconies.

“As an international business location its profile is unparalleled. It is situated in a landmark location at the heart of Cape Town’s new financial district, adjoining the most successful international convention centre in the southern hemisphere,” says Darren Wilder, leasing director of Madison Property Fund Managers.

Exclusive in every way, the spectacular space boasts panoramic views with glazing on three sides, luxurious finishes in marble and granite and it benefits from the premium international-standard facilities and services of Convention Tower.

“We expect a multinational conglomerate will take this elite space and have already had various enquiries, including several from the UK, seeking this high profile quality space,” says Wilder.

The penthouse in Convention Tower is complemented by eight storeys of blue-chip businesses and four levels of secure internal parking offering the some highest parking ratios in Cape Town of 4 bays per 100m2, as well as unlimited surrounding visitor parking.

Convention Tower, which is being developed by Madison Property Fund Managers for Redefine Income Fund, is already 80% let and has secured over the lower office levels leading professional and blue chip tenants such as Accenture, Webber Wentzel Bowens (WWB), Tullows Oil, Thou Gaming and Habitaz, at rental levels up to R120/m2. The first tenants will take occupation later this year with the penthouse scheduled for occupation in early 2008.

The AAA-grade office space is destined to be a landmark on the Cape Town cityscape located at the core of the city’s top merchant bankers, financial firms and attorneys. It offers a comprehensive diversity of facilities and services from a classic concierge to cutting-edge connectivity.

“The take up of office space at Convention Tower has been most rewarding with companies at the forefront of their sectors seeking a location that adequately reflects their respective corporate images and facilitates ease of business on a national and international level,” says Wilder.

“A-grade vacancy levels have dropped dramatically to below 5% for the first time in decades and one can expect AAA-grade rental rates to exceed R130/m2 within 24 months,” notes Wilder.

Adjoining the already existing Cape Town International Convention Centre (CTICC), Convention Tower will offer direct walk-through access to the CTICC and its world-class facilities including international video conferencing, state-of-the-art presentation facilities, superlative exhibition space and 33 meeting rooms and auditoriums.

Convention Tower will provide the same international standard of security as its neighbour with leading high-tech safety and security systems. It also provides a standby generator which will run the building in the event of power failure.

The main entrance foyer will showcase paintings and sculptures by leading and up-coming South African artists. Premium finishes extend to the fire escapes, lobbies, toilets and balconies and centralised air conditioning with variable zone capability will be used as a standard feature throughout the building.

“One of the most attractive features of Convention Tower for business is the Foreshore location with excellent access. Cape Town International Airport is a mere 15 minutes away, and public transport, five of the city’s top hotels as well as a wealth of shopping, restaurants and entertainment at the Victoria and Albert Waterfront, are all located less than a minute’s walk away,” notes Wilder.

Prestigious Cape Town firm Dennis Fabian Berman architects which has projects such as the Cullinan Hotel, Peninsula Hotel, the Grand West Casino, the V&A Marina Residential and the Investec Bank building firmly tucked under its belt were the brilliance behind Convention Tower’s sleek, ultra-contemporary architecture and design.

The development boasts an advanced building design with large glass panels which are the focal point of the building, to make the most of the magnificent views, with glare control is used against environmental factors. Access to outside spaces and fresh air is provided via operable windows and balconies.