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Gerhard Kotze
September 27, 2016

Make a smooth switch from renting to owning

in Office, Retail, Industrial, Hotels and Residential
Owning a home is a dream-come-true for many young people, but being a first-time buyer wrapped up in finding just the right property could mean that the thought of what it will cost to run and maintain that property hasn’t crossed your mind.
King Shaka International Airport
September 27, 2016

Durban’s Shaka International Airport was built by Acsa without a feasibility study

in Office, Retail, Industrial, Hotels and Residential
Shaka International Airport was built by Acsa without a feasibility study, it emerges in correspondence linked to a court process.
Des de Beer Res
September 27, 2016

Greenbay Properties plans to raise R1.75bn new share issue

in Listed Property, REIT, Real Estate Funds
Greenbay Properties plans to raise R1.75bn through the issue of new shares, in line with its investment policy.
Gavin Lucas Stor Age Property REIT
Sep 27, 2016

Stor-Age Prroperty Holdings snaps up competitor as it looks to increase scale

Stor-Age Property Reit acquired a smaller competitor as it looks to increase its scale, having grown organically in the…
Nkuli Bogopa SAIBPP President
Sep 27, 2016

The South African Institude of Black Property Practitioners (SAIBPP) set to host its…

The South African Institute of Black Property Practitioners (SAIBPP) today hosted a media briefing to launch its…
Andrea Taverna Turisan EQuites Property Fund
Sep 27, 2016

Acquisition of Amazon distribution centre in Stoke-on-trent, England

Acquisition of Amazon distribution centre in Stoke-on-trent, England .
City Lodge Hotel Newtown
Sep 27, 2016

Atterbury Property Group’s developments provide another boost for Newtown, Joburg

Atterbury is leading the wave of property development and investment in Johannesburg’s Newtown precinct, adding further…
Brian Wilkinson GBCSA CEO
Sep 23, 2016

Green Building Council of South Africa aims to change perspectives during World…

The impact of buildings on the environment is astounding, with the built environment currently accounting for 25% of…

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Company Profile

Rates Watch

Rates Watch (Pty) Ltd was established in 2008 with the main purpose of monitoring and watching municipal valuations and property taxes. The services offered to the individual property owners are:1. Valuation audits;2. Valuation appeals;3. Valuation…

Property Leader

Yvonne Court

Yvonne Court

Yvonne Court is a Partner for Cross Border Retail at Cushman & Wakefield.
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

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Office, Retail, Industrial, Hotels and Residential

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September 27, 2016 Office, Retail, Industrial, Hotels and Residential eProperty News
Owning a home is a dream-come-true for many young people, but being a first-time buyer wrapped up in finding just the right property could mean that the thought of what it will cost to run and maintain that property hasn’t crossed your mind.

Green Building and Sustainability

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Commercial Property Auctions

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Africa, International Property News

Spur_Corporation

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September 14, 2016 Africa, International Property News eProperty News
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Construction, Energy and infrastructure

The Yacht Club Cape Town

Amdec’s The Yacht Club breaks ground with 80% of its apartments sold out

September 20, 2016 Construction, Energy and Infrastructure eProperty News
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