The low-rise office park, which is located on a high profile site off Century Boulevard, the main thoroughfare through Century City, will soon comprise a total of 18 office blocks ranging in size between 1000 and 4500 square metres.

Together these offices, which are being undertaken by 10 different developers and/or owner occupiers, will represent a total investment of around R600m when completed in the third quarter of 2008.

The 11 buildings currently under construction include five for a listed property fund which is looking to boost its Cape Town portfolio.

Greg Deans, a director of Rabie Property Group, which is the overall developer of the project, said that work on the remaining seven blocks was expected to start shortly as developers were contractually obliged to complete all construction by September next year at the latest.

“Interest from both tenants and purchasers has been extremely strong and a number of very serious negotiations are close to finalisation,” he said.

One of the 18 buildings, providing a total of 1870 square metres but catering to smaller owner occupiers, has been sold off on a sectional title basis with just one suite of 200 square metres remaining to be sold.

The office park is set around a beautifully landscaped garden with the buildings orientated to ensure they all have exposure and/or vistas of the park. Developers are also being required to maximize the garden frontage and where possible to link into the gardens’ meandering footpath system.
 
“Strict design guidelines are ensuring the urban environment is developed in an holistic manner with the buildings interfacing seamlessly with both the urban and natural environments,” he said.
 
The development will have boom control access and will also enjoy the high standard of security offered by Century City as a whole, said Deans.
 
The parking ratio is a minimum of four per 100 square metres with additional overflow parking to be provided nearby at a planned new transport interchange system for Century City.

Other new office projects at Century City include 17 000 square metre regional offices for Liberty Life which are nearing completion across Century Boulevard from The Estuaries and The Forum, a 10 000 square metre sectional title office development near the Ratanga Road entrance to Century City and where more than 90% of the sectional title office suites have been snapped up.