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Rode Associates CEO Erwin Rode
July 29, 2016

Rode & Associates once again receives top honours in national survey

in Office, Retail, Industrial, Hotels and Residential
Property valuation firm Rode & Associates, has been honoured with top awards from the authoritative publication Professional Management Review (PMR.africa) in this year’s PMR.Africa rankings.
Office Stock vs Office Demand
July 29, 2016

Alarm bells ringing in the Centurion office space market

in Office, Retail, Industrial, Hotels and Residential
The Pretoria decentralized office market continues to suffer from the aftermath of overzealous development coupled with weak demand for space to rent.
Palm Brook
July 29, 2016

Construction of fifth Oasis luxury apartment block underway

in Construction, Energy and Infrastructure
Construction of Palm Brook, the fifth block of apartments in the Oasis Luxury Retirement Resort at Century City where 23 apartments have already been sold for more than R120million, has now commenced.
Black River Park
Jul 29, 2016

Black River Park cements its position as Africa’s largest integrated photovoltaic…

Redefine Properties’ Black River Park in Cape Town has cemented its position as Africa’s largest integrated…
Geoff Jennett Emira Property Fund
Jul 29, 2016

Emira Property Fund rejects Arrowhead’s expression of interest

The Board of Directors of Emira Property Fund has rejected Arrowhead’s unsolicited, non-binding, and highly conditional…
JT Ross Sydney Rd
Jul 28, 2016

Biggest brown fields refurbishment on track for October launch

The reinvention of Durban’s old Dunlop tyre factory into state-of-the art warehousing is on track and will be ready for…
Klaus Dittrich Chairman and CEO Messe München
Jul 27, 2016

EXPO REAL is Europe's largest real estate and investment trade fair

The real estate and investment industry are also concerned with Brexit and the question behind it: What does the future…
Norman Raad Broll Auctions and Sales
Jul 27, 2016

Challenging times see some of the best properties taken to auction in years

Exciting opportunities arise in uncertain and difficult times, says Norman Raad, CEO of Broll Auctions and Sales.

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Bruce Swain MD
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Morne Wilken CEO Attacq
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South African property sector is worth a whopping R5.8 trillion

Jul 12, 2016
Portia Tau Sekati CEO Property Charter Council
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Jul 12, 2016
Knightsbridge Manor
Emira Property Fund today announced it has signed an agreement with WSP|Parsons Brinckerhoff for approximately 5,800m²…

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Thirst Interior
Africrest Properties is known for their value add investing and a few years ago took a positive view on the area…

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Company Profile

Marder Properties

Specialising in Industrial, Commercial and Investment Properties. Marder Properties was established in 1994. The company is well-established in the East Rand and it has now expanded into Midrand and Centurion, Marder Properties specialises in Commercial and…

Property Leader

Ipeleng Mkhari

Ipeleng Mkhari

Mrs. Ipeleng Nonkululeko Mkhari, B.A. Soc. Science, serves as the Chief Executive Officer of Motseng Outsourced Services.
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

Geoff Jennett Emira Property Fund

Emira Property Fund rejects Arrowhead’s expression of interest

July 29, 2016 Listed Property, REIT, Real Estate Funds eProperty News
The Board of Directors of Emira Property Fund has rejected Arrowhead’s unsolicited, non-binding, and highly conditional expression of interest to acquire all of Emira’s issued share capital on the basis that it has no benefit to Emira’s shareholders.

Office, Retail, Industrial, Hotels and Residential

Rode Associates CEO Erwin Rode

Rode & Associates once again receives top honours in national survey

July 29, 2016 Office, Retail, Industrial, Hotels and Residential eProperty News
Property valuation firm Rode & Associates, has been honoured with top awards from the authoritative publication Professional Management Review (PMR.africa) in this year’s PMR.Africa rankings.

Green Building and Sustainability

Black River Park

Black River Park cements its position as Africa’s largest integrated photovoltaic plant

July 29, 2016 Green Building and Sustainability eProperty News
Redefine Properties’ Black River Park in Cape Town has cemented its position as Africa’s largest integrated photovoltaic (PV) plant when it turned on phase 3 of its PV installation earlier this month.

Commercial Property Auctions

Norman Raad Broll Auctions and Sales

Challenging times see some of the best properties taken to auction in years

July 27, 2016 Commercial Property Auctions eProperty News
Exciting opportunities arise in uncertain and difficult times, says Norman Raad, CEO of Broll Auctions and Sales.

Africa, International Property News

Klaus Dittrich Chairman and CEO Messe München

EXPO REAL is Europe's largest real estate and investment trade fair

July 27, 2016 Africa, International Property News eProperty News
The real estate and investment industry are also concerned with Brexit and the question behind it: What does the future of Europe look like with national barriers?

Construction, Energy and infrastructure

Palm Brook

Construction of fifth Oasis luxury apartment block underway

July 29, 2016 Construction, Energy and Infrastructure eProperty News
Construction of Palm Brook, the fifth block of apartments in the Oasis Luxury Retirement Resort at Century City where 23 apartments have already been sold for more than R120million, has now commenced.

Most Popular

Listed property groups struggling to find takeovers

Jul 06, 2016
Maurice Shapiro
SA's listed property companies struggle to find well priced acquisition opportunities and…

When does an Estate Agent earn a commission?

Jul 05, 2016
Bruce Swain MD
Buyers and sellers alike often see an estate agent as a necessary evil when it comes to…

Attacq and Sanlam announce Waterfall joint venture development

Jul 04, 2016
Morne Wilken CEO Attacq
The joint venture has acquired 28ha of Waterfall land from Attacq and an additional…

South African property sector is worth a whopping R5.8 trillion

Jul 12, 2016
Portia Tau Sekati CEO Property Charter Council
The South African property sector is worth a whopping R5.8 trillion according to results…

Emira Property Fund signs WSP Parsons Brinckerhoff for the first phase of its major R795 million redevelopment of Knightsbridge, Bryanston

Jul 12, 2016
Knightsbridge Manor
Emira Property Fund today announced it has signed an agreement with WSP|Parsons…