By Nick Wilson

Unlisted property developer Zenprop's blue-chip Woodmead North Office Park, valued at more than R500m, will be completed by the end of next year.

The park, which will offer 56000m of office space and a 6500m hotel, is taking shape on land that has access from both the N1 and N3.

Nedbank Corporate Property Finance is funding three of the office developments in the park including the General Motors head office, Oracle head office and Motorola head office.

The three developments, valued at R160m, have a total building area of 16494m.

Brian Roberts, divisional director for the Gauteng division of Nedbank Corporate Property Finance, said the General Motors head office was complete and that construction on the Oracle and Motorola offices was under way.

Zenprop CEO Rodney Weinstein said other office blocks in the Woodmead North development were also completed or under way.

Weinstein said the Group 5 head office had been completed, as well as the Nashua head office.

"We are busy building the Motorola and Oracle head offices, as well as the hotel," he said.

"We expect to finish the entire development by the end of next year."

Roberts said the Woodmead North Office Park was an "exceptional commercial property" that enjoyed visibility and access from both the N1 and N3. "It also forms part of the development of the greater Buccleuch/Woodmead/ Midrand area, which has become prime commercial property in recent years," he said.

Zenprop is a privately held property investment, development and management company. It employs 95 staffers in its various business units in Johannesburg, Cape Town and Durban.