The low-rise buildings, which interface seamlessly with both the urban and natural environments, comprise a lettable area of 9,750m² and were acquired by Growthpoint for a collective R170 million from developers Gorrie and Findlay Property Developers and Master Builders.

The prime office buildings at The Estuaries will enhance Growthpoint’s portfolio of 420 quality properties country-wide. “Both the superior quality of the office park and its accessible location at Century City were key factors in acquiring these properties, which will contribute to increased rental income streams,” says Rudolf Pienaar, Growthpoint Properties Limited Divisional Director: Office Portfolio.

Providing a high standard of security, including access and egress control, and plentiful parking at a ratio of four bays per 100m² of offices, the five office buildings can accommodate tenants ranging from 500m2 to 3,500m2 with exclusive naming rights available for tenants occupying an entire building.

The Estuaries comprises 18 office buildings in total, conveniently situated with easy access from major highways in the growing node of Century City. The Estuaries will also benefit from the planned new transport interchange system at Century City in addition to the wide-spread amenities available in the thriving mixed-use precinct which incorporates both residential and retail facilities including the landmark Canal Walk Shopping Centre.

James Gorrie of Gorrie and Findlay explains that the company purchased the five vacant erven in The Estuaries from the Century City Developers Rabie Properties. “Shortly after completion of the architectural drawings we were approached by Growthoint to purchase all five buildings off plan - certainly a welcome experience for any property developer,” says Gorrie

Gorrie reports that the first building will be completed by the end of this month (January 2008) and the remaining buildings will be completed over the period from February to May 2008. All are being built to A-grade specifications with finishes of the highest quality.

“One of the greatest benefits of having five adjacent buildings in this premier location is that they can be linked or combined to produce larger lettings and flexibility of space,” notes Gorrie.

Growthpoint Properties Limited is a hands-on property owner which undertakes the asset management and property management of its premium portfolio of buildings located throughout South Africa and spanning over 4,200,000m2. Some 38% of Growthpoint’s portfolio comprises office space occupied by blue-chip corporate tenants.

Growthpoint is also currently investing in a variety of Western Cape properties. This includes the R500-million redevelopment of MontClare Place – which houses Claremont Pick ‘n Pay on the corner of Campground and Main Roads at the gateway to the busy business district -  as one of the most prestigious and largest mixed-use property developments in Cape Town's southern suburbs.

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Info on Century City

Century City is a 250ha city in the making, located midway between the Cape Town and Bellville CBDs. Total development at Century City since 1995 has topped R6-billion with more than 260,000m2 of office space built or committed to date of which 175,000m2 has been built with the remainder to come on stream between now and the end of 2009. 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 it is estimated there will be more than 60,000 people living and working in Century City. Already there are 35,000 people living and working in this vibrant city.