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Illovo Central - new mixed use building planned for Illovo precinct

Illovo Central is the second of four planned mixed use buildings to be developed in the exclusive new Illovo precinct, said Rhys Rocke, regional director of the developer, FWJK.


 
Due to its equidistant proximity to Sandton and Rosebank and interlinking Gautrain bus routes, the Illovo node is in an exponential growth phase.  FWJK is looking to complement the sold out Illovo Point development (currently under construction) with another addition to the Illovo skyline which enjoys the highest elevation in the greater Sandton area.
 
Illovo Point is the first high-rise building in the node at 16 storeys and is expected to be ready for occupation in August next year. Illovo Central, which is adjacent to Illovo Point on the Northern boundary will offer high-end ground floor retail, office space as well as luxury apartments introducing much needed residential units into the node. The 16 storey building will offer its residential and commercial occupants an executive rest centre, a crèche, a swimming pool, exclusive in-house shuttle service, white glove concierge, high speed fibre, first class 24/7 manned security amongst other luxury amenities creating a live, work, play environment.


 
The development structure will make use of FWJK’s tried and tested Co-Development at Cost methodology offering investors the ability to acquire retail, office and residential space at cost, which will be approximately 30% below market values.  Investors will enjoy a high return on equity employed of approximately 88% over the 23 month development period.
 
Designed by FWJK Architecture, Illovo Central will focus on design and operational efficiency in conjunction with aesthetic appeal in keeping with the architectural vernacular established in the node. The building will be built using the latest materials and building techniques to meet the high environmental standards set by Illovo Point which offers highly efficient energy and water saving green features in order to greatly reduce operating costs.
 
FWJK Project Management will deliver the new building to its investors during the third quarter of 2019.


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