Listed property funds eye Rosebank‚ Gautrain

Posted On Monday, 26 August 2013 14:31 Published by Commercial Property News
Rate this item
(0 votes)

Reshaping of Rosebank's skyline is gathering pace as listed property funds‚ private investors and financial institutions continue to pour millions of rand into Gautrain-driven development opportunities.

Standard Bank Rosebank OfficeThe reshaping of Rosebank’s skyline is gathering pace as listed property funds‚ private investors and financial institutions continue to pour millions of rand into Gautrain-driven development opportunities. 

After two years of construction‚ Standard Bank’s investment of more than R2bn in a state-of-the art office complex on the corner of Oxford and Bolton Avenue is now coming to fruition. Standard Bank is already started moving about 5‚000 of its employees into the 65‚000m² complex.

The five-star green rated property‚ now Rosebank’s tallest building‚ comprises two towers‚ respectively 11 and nine storeys high‚ with five basement parking levels.

JSE-listed Hyprop Investments’ (HYP) substantial R920m revamp of Rosebank Mall is also well under way.

The shopping centre‚ which has become tired in recent years‚ will almost double in size from 36‚000m² to 62‚000m². Construction‚ which started a year ago‚ will be completed in September 2014.

Hyprop Investments CEO Pieter Prinsloo says though the mall’s redevelopment is in its most intense phase‚ the new entrance facing the Cradock pedestrian link as well as extensions to Truworths‚ Mr Price‚ Legit and a new Jet store will be completed before year end.

Source: FM

Last modified on Monday, 26 August 2013 14:42

Most Popular

Stable repo rate a boost for first-time home buyers says Dr Andrew Golding

Sep 20, 2018
Andrew Golding
With the rand regaining some ground and inflation surprising on the downside this week,…

Abland to develop combined office and dealership scheme at Menlyn Maine Towers

Sep 19, 2018
BARLOWORLD MENLYN
Abland, one of South Africa’s leading property developers for over 30 years, hosted a SOD…

SARB keeps Repo rate unchanged

Sep 20, 2018
Consumers will breathe a sigh of relief after the South African Reserve Bank’s (SARB)…

FNB-BER Building Confidence Index Q3 2018 - Declining building activity keeps confidence low in 3Q

Sep 19, 2018
FNB John Loos
After falling to 29 in 2Q2018, the FNB/BER Building Confidence Index was unchanged in…

ALP opens warehousing park 75% pre-leased, topping all other real estate segments

Sep 24, 2018
TOBY SELMAN
Africa Logistics Properties has today launched its first 49,000 sqm of modern grade –A…

Please publish modules in offcanvas position.