The well located Heron Place is being developed for Redefine Income Fund, the fourth largest property loan stock listed on the JSE Limited, and is scheduled for completion and occupation in December 2007.
The 5,000m2 building spans four storeys which include 500m2 ground floor retail, 4,500m2 A grade offices and dedicated secure parking with direct building access at a ratio in excess of four bays per 100m2.
“While the two-levels of office space are flexible offering tailor-made office solutions for multiple tenants, Heron Place is also able to accommodate a single tenant which would also secure naming rights to the property,” explains Madison Property Fund Managers leasing director Darren Wilder.
At this stage, Wilder believes that gross office rentals of up to R120/m2 will be achievable for Heron Place, with tenancies including a generous office installation allowance.
Designed by award-winning architect Marc Harries, Heron Place provides modern office space with an external walkway overlooking a central ‘feng shui’ courtyard. The use of natural light and other design synergies extend the working environment from indoors to outdoors creating a fresh new environment and offering intelligent business solutions.
Located in Century City, Heron Place provides spectacular views of Table Mountain, Intaka Island, the 16ha wetlands conservation area rich in birdlife and indigenous flora, and the tranquil internal courtyard.
Its location on the high exposure corner of Heron Road and Century Boulevard provides easy access and egress from Century City which is situated centrally to Cape Town and on the major N1 Highway.
Heron Place will feature a secure, discreetly monitored main foyer and state-of-the-art security and monitoring systems with access control. Ground-level retail will serve the offices with a coffee shop and service-related businesses, surrounding the central courtyard which will create a common outdoor meeting area largely protected from the wind and other elements.
Heron Place is one of five developments which Madison has undertaken in Century City. The company is responsible for the hugely successful Knowledge Park I and II, tenanted by blue-chip companies Discovery and Fusion Outsourcing respectively. Madison is currently developing the R500 million Oasis Luxury Retirement Resort, in a joint venture with Harries Projects, and the R58 million Knowledge Park III low-rise offices, both in Century City.
Madison selected Century City as the location for Heron Place as it is one of the best business nodes in the Western Cape. “The popularity of Century City,” says Wilder, “has surpassed that expected even by those who, like the Madison team, foresaw the huge potential of this node.”
Century City is a 250ha city in the making, located midway between the Cape Town and Bellville CBD’s. Total development at Century City since 1995 has topped R3-billion. More than 156,000m2 of office space has been sold to date and Century City has become an important office node in the Western Cape having attracted new regional offices for a growing list of blue-chip companies such as Vodacom, Pricewaterhouse Coopers, Nashua, SAP SA, Comparex, The Louis Group, Business Connexion and Unisys to mention a few.
This burgeoning city also offers excellent retail facilities and a wide variety of residential options. More than 2,000 homes have currently been created and by 2010 there will be more than 60,000 people living and working in Century City.
