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

Property market will trend positive in 2019, says Berry Everitt

Jan 09, 2019
BERRY EVERITT
“South Africa’s residential market is in for an interesting time in 2019, but our…

Texton’s shareholders cast clear vote against share repurchase, putting the REIT on a firmer footing

Jan 09, 2019
MARIUS MULLER
Shareholders of Texton Property Fund have voted against the repurchase of shares in terms…

How to beat the January financial blues

Jan 09, 2019
RUDI BOTHA
No-one wants to default on their bond instalments or other account payments, but often in…

An improved focus on governance will drive confidence in SA REITs in 2019

Jan 10, 2019
ANDREA TAVERNA TURISAN
The SA REIT sector’s focus on improved corporate governance is expected to support…

Moody's affirms Nepi Rockcastle's BAA3 long-term credit rating and changes outlook to stable

Jan 09, 2019
ALEX MORAR
Moody's Investors Service has affirmed NEPI Rockcastle’s long-term credit rating and…

Please publish modules in offcanvas position.