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Jacques Du Toit Absa Hoam Loans
January 20, 2017

Continued subdued residential building activity up to late 2016

in Office, Retail, Industrial, Hotels and Residential
Building activity with regard to new private sector-financed housing in South Africa (see explanatory notes) remained much subdued in the first eleven months of 2016 compared with the corresponding period in 2015, based on data published by Statistics South Africa.
John LoosFNB
January 17, 2017

The buy-to-let picture remains one of mediocrity, and primary residential demand is king

in Office, Retail, Industrial, Hotels and Residential
In the 4th Quarter 2016 FNB Estate Agent Survey, buy-to-Let demand was a little slower than the prior quarter, keeping the level of recent years “moderate” by pre-2008 boom time standards, and our estimates point to little in the way of growth in secondary property ownership.
Graeme Katz IAPF CEO
January 16, 2017

Investec Australia Property Fund increases its exposure to New South Wales

in Office, Retail, Industrial, Hotels and Residential
Investec Australia Property Fund (“IAPF” or the “Fund”) is pleased to announce the acquisition of 2 Richardson Road, North Ryde (“North Ryde Property”) and 20 and 24 Rodborough Road, Frenchs Forest (“Frenchs Forest Property”).
Deirdre Opperman
Jan 16, 2017

Property in Demand on Robert Broom Drive, Krugersdorp

Robert Broom is one of the main arteries that runs through Krugersdorp in the Westrand, crossing through Noordheuwel,…
Coopers Square Mall Entrance REVD AFTER no logo
Jan 13, 2017

Next to relocate to former BHS store in Burton

National fashion retailer Next is set to treble in size in Burton upon Trent when it relocates to the former BHS store.
John LoosFNB
Jan 09, 2017

2016 represented further average house price growth slowing, moving into negative…

The FNB House Price Index for 2016 as a whole rose by 5%, slower than the 7.2% and 6.5% for 2014 and 2015 respectively.
John LoosFNB
Jan 09, 2017

Consumers will need to continue to “create their own luck” in 2017 despite some…

While economic growth is expected to be mildly better in 2017, this is not yet expected to be enough to turn Real…
Hilton Garden Inn Tanger City Center Hotel
Jan 09, 2017

Hilton Garden Inn Casablanca Sidi Maarouf to begin construction in 2018

Hilton (NYSE: HLT) (www.Hilton.com) has signed a management agreement with Group Sadiki (www.GroupSadiki.com) to open…

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Redefine International lets remaining space at City Point, Leeds

Jan 09, 2017
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Company Profile

Dijalo Property Group

Dijalo Property Services

Dijalo Property Services was established by Saul Gumede, CPM® and Hosia Malekane who have more than 30 years combined property experience. Dijalo Property Services (Pty) Ltd is a 100% black-owned company established in 1998. The company has attracted skilled…

Property Leader

Sello Moloko

Sello Moloko

Sello Moloko is the Deputy Chairman of Sycom Property Fund Limited and the Group Chairman of Alexander Forbes Limited. Prior to this Moloko was the Chief Executive Officer of Old Mutual Asset Management and the Deputy Chief Executive Officer of Brait Asset…
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
Nedbank Property Finance is a market leader in commercial property finance, enabling you to realise your property opportunities through a diverse range of financing solutions.

Listed Property, REIT, Real Estate Funds

Keillen Ndlovu StanlibMD

Investors still love SA's listed property sector

December 15, 2016 Listed Property, REIT, Real Estate Funds eProperty News
SA’s listed property sector continues to feed investor appetite, having raised about R153bn in the past six years.

Office, Retail, Industrial, Hotels and Residential

Jacques Du Toit Absa Hoam Loans

Continued subdued residential building activity up to late 2016

January 20, 2017 Office, Retail, Industrial, Hotels and Residential eProperty News
Building activity with regard to new private sector-financed housing in South Africa (see explanatory notes) remained much subdued in the first eleven months of 2016 compared with the corresponding period in 2015, based on data published by Statistics South…

Green Building and Sustainability

Aerial view Kgoro Precinct Sandton

Green Building Council South Africa launches Green Star - Communities Pilot Programme in South Africa

December 07, 2016 Green Building and Sustainability eProperty News
The Green Building Council South Africa (GBCSA) today announced the launch of the locally applicable version of the Green Star – Communities rating tool in South Africa.

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

Adrian Horsburgh Redefine International

Redefine International lets remaining space at City Point, Leeds

January 09, 2017 Africa, International Property News eProperty News
Redefine International (“Redefine International” or the “Company”), the opportunistic income focused FTSE 250 UK-REIT, has let 1,022 sqm (11,000 sq ft) at City Point, Leeds to Blacks Solicitors LLP, bringing the office asset, which was acquired as part of the…

Construction, Energy and infrastructure

Keshav_Padaruth_RICS_Fellow

Mauritius produces the youngest ever RICS Fellow in Africa

December 12, 2016 Construction, Energy and Infrastructure eProperty News
Firmly established on the global map as a progressive business hub with a thriving economy, Mauritius is becoming a breeding ground for professionals, this despite the fact that this small island in the Indian Ocean only has a population of about 1.3 million…

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