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Atterbury Property Development Kumasi City Mall
March 23, 2017

USD95 million Kumasi City Mall, Ghana, opens on 20 April 2017

in Office, Retail, Industrial, Hotels and Residential
The new Kumasi City Mall in Ghana’s city of Kumasi will open on 20 April 2017.
Ballito Junction Regional Mall entrance3
March 23, 2017

Ballito Junction Regional Mall opens

in Office, Retail, Industrial, Hotels and Residential
The fully-let Ballito Junction Regional Mall opened its doors today on the Dolphin Coast of KwaZulu-Natal, bringing an exciting array of comprehensive, quality shopping to the growing, diverse and flourishing consumers of Ballito and its surrounds.
John LoosFNB
March 23, 2017

Despite weaker activity, building confidence edges higher in Q1

in Office, Retail, Industrial, Hotels and Residential
The FNB/BER Building Confidence Index improved for the third consecutive quarter, rising by 3 points to 43 in 1Q2017.
Waterfall Gauteng
Mar 22, 2017

Attacq welcomes BMW Group to Waterfall

Attacq welcomes BMW Group South Africa to Waterfall, where a new Regional Distribution Facility (RDC) will be developed…
WWF Earth Hour 60 logo
Mar 22, 2017

Join Nelson Mandela Square, Sandton City and the GBCSA in support of Earth Hour

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Marriott Melrose Arch
Mar 22, 2017

SA seeing marked upswing in mixed-use hospitality investment with entrance of large…

“Recently, we’ve witnessed a noticeable shift in the nature of hotel development in South Africa and the manner in…
Bruce Swain MD
Mar 22, 2017

Owning Property without a Will

A home is the biggest financial asset most South Africans will ever possess, but what happens to that home when the…
One Touch Property
Mar 22, 2017

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    NEPI investors rubbing their hands with glee as property portfolio rakes in dividends

  • Every building counts for award-winning property industry powerhouse, Marna van der Walt

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Featured Profiles

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  • CEO Profile: Innovation, entrepreneurship drive Mercantile Bank CEO, Karl Kumbier

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Company Profile

Abacus DIVISIONS

Abacus DIVISIONS is a Centurion based property company with strong interests, services and a portfolio of properties in the commercial and leisure sectors of the market. We were founded in 2002 and is driven by a strong entrepreneurial spirit. Our offices are…

Property Leader

Amelia Beattie

Amelia Beattie

Chief Investment Officer: Direct Property Investments, STANLIB
Wednesday, 16 February 2011 02:00

Refurbished 1 Thibault Square fetches high rental renewals

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Almost forty years after its completion, the landmark Revel Fox-designed office block at No 1 Thibault Square is undergoing a R25-million refurbishment

The 35-storey Modernist building, originally known as the BP Centre, is situated on Cape Town’s European-style Thibault Square at the end of St George’s Mall. Underscoring its appeal, No 1 Thibault Square has realised excellent returns during a period in which the global financial crisis impacted negatively on all sectors of the South African property market. Of the total lettable area of 36 000 square metres, the vacancy rate is running at a remarkably low 5%.

“We paid what we considered quite a lot when we bought the building in 2006,” says Adam Blow, executive director of Zenprop, “but we had huge faith in the future of the Cape Town CBD and had a feeling that rentals were going to escalate – which is exactly what’s happened.”

Says Zenprop property manager, Janine Coleske: “In the past year, four of our blue-chip clients, occupying about 1 000 square metres each, have increased their space requirements by between 30 and 100 percent, taking up an entire additional floor in two instances, and entering into new five-year leases. And we’ve managed to achieve an average rental of between R115 and R120 per square metre.”

The refurbishment has included work on the six high-rise lifts, which have been modernised at a cost of about R12 million. The Miconic 10/Schindler destination-control system has reduced both crowding in the lobby and travel time in the lifts. The Schindler AC gearless machines offer power savings, and safety mechanisms are cutting edge.

The façade of the building, which consists of precast column and beam liners with an exposed dark Paarl granite (chosen to echo the colour of Table Mountain), is also being given a facelift. Major repairs are being carried out on various concrete panels at a cost of about R6 million.

The parking levels have all undergone a complete upgrade, and refurbishment work is ongoing on the rest rooms throughout the building.

Thibault Square is a favourite chill-out spot for office workers and visitors to the city, who flock to its cafes and coffee shops throughout the day. And while John Skotness’s Mythological Landscape steel-and-bronze sculpture provides a focal point in the piazza, it’s No 1 Thibault Square that always draws the eye. The office block is still the tallest building in the Cape Town city centre, and even when it was designed over four decades years ago, environmental factors were taken into consideration.

The 34-degree diagonal twist, which puts it on a north-south axis, reduces sun loads on the facades, putting less pressure on the airconditioning system. To further shield the facades, a precast screen is mounted on every floor, allowing good air flow and cutting off direct sun rays. This unique orientation also means that all the offices have views of either the mountain or the harbour, and that none stare straight into the facades of the surrounding buildings.

The skyscraper quickly became a landmark, and in 2008 was acknowledged in a national survey by the South African Institute of Architecture to be one of the country’s “good buildings”.


Publisher: eProp
Source: Zenprop

Listed Property, REIT, Real Estate Funds

Waterfall Gauteng

Attacq welcomes BMW Group to Waterfall

March 22, 2017 Listed Property, REIT, Real Estate Funds eProperty News
Attacq welcomes BMW Group South Africa to Waterfall, where a new Regional Distribution Facility (RDC) will be developed by Attacq for the luxury German vehicle maker in Waterfall Distribution Campus. 

Office, Retail, Industrial, Hotels and Residential

Atterbury Property Development Kumasi City Mall

USD95 million Kumasi City Mall, Ghana, opens on 20 April 2017

March 23, 2017 Office, Retail, Industrial, Hotels and Residential eProperty News
The new Kumasi City Mall in Ghana’s city of Kumasi will open on 20 April 2017.

Green Building and Sustainability

WWF Earth Hour 60 logo

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Commercial Property Auctions

Norman Raad CEO Broll Auctions Sales

Prime located buildings in Cape Town & Pretoria sold on auction

December 12, 2016 Commercial Property Auctions eProperty News
Ending the year on a high note, the November 2016 auction held by Broll Auctions and Sales proved a great success with a number of noteworthy sales taking place.

Africa, International Property News

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Construction, Energy and infrastructure

RICS TC Chetty

New mandatory requirements on conflicts of interest for land, property and construction industry

March 20, 2017 Construction, Energy and Infrastructure eProperty News
Following extensive industry consultation, the Royal Institution of Chartered Surveyors (RICS) is tightening up requirements for RICS professionals and regulated firms working in the land, property and construction sector, with the publication of a new global…

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