Growing through renovation

“Our goal is to sustain and grow a high-quality office portfolio by maintaining and improving our offering to tenants,” explains Rudolf Pienaar, the fund director of offices at Growthpoint Properties.

The R36million refurbishment was carried out during tenant occupation, “this was a challenge however we achieved this through careful collaboration between property and project management, the project manager and the contractor”, says Pienaar.

Located at the highly visible and busy intersection of Jan Smuts Avenue, Tyrwhitt Avenue and 7th Street, the office property is a landmark in the node. The new Rosebank Gautrain station is just a three-minute walk away, as are the prime malls, hotels and galleries for which Rosebank is renowned.

Growthpoint’s office properties are already recognised and respected by the business community as highly functional spaces with desirable addresses, says Paul Kollenberg, Regional asset manager at Growthpoint.

In line with this, the ultimate aim of renovating 1 Sixty Jan Smuts was to refurbish a landmark property in an exceptional location, and to substantially let it to blue-chip tenants at market-related rentals.

“We have achieved not only an enhanced office environment for our tenants, but also improved the building’s appeal and lettability, while reducing operating costs,” says Kollenberg.

The newly announced Johannesburg campus for the South African School of Applied Psychology has recently taken premises at 1 Sixty Jan Smuts Avenue, adding to the tenant mix at the building.

The vibrant five-storey building now offers improved foot circulation into the building from the foyer to the office floors; enhanced security; and upgraded common areas.

The tenant allowance is a generous R550/sqm at a competitive rental of R115/sqm net. Tenants can take advantage of ample parking on five basement levels – 4.5 bays per 100sqm – at R550/month for a basement bay.

Thanks to the application of green principles throughout the space, the property is generating greater energy efficiencies resulting in reduced operating costs. All lighting in the common areas such as receptions, ablutions and passages were replaced with LED lights, as well as all internal feature lighting, which gives a reduction of 50w to 7w per globe. The five basement levels include Infra-red occupancy sensors and day-night timers were fitted to all external lights as well as the common areas of the lower and upper ground floors.

“Redevelopment and renovation of properties throughout our office portfolio is a key strategy for us and will remain a strong focus in the future,” adds Pienaar.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us