Renprop commercial selling office park in Broadacres

“The South African property market is witnessing high demand for commercial space in certain nodes in northern Johannesburg”, says Mike Walters, Divisional Head of Renprop Commercial.  He largely attributes this growth to a growing population living in the northern suburbs, the need for business people to use their time more efficiently and developers being more proactive in the current environment.

“It is hugely encouraging that developers that have been holding commercial property for over six years, are now much more creative and proactive than in the past and are keener than ever to make deals happen.”

Walters says that the popularity of sectional title townhouse complexes in the South African context, which offer newer buildings, security, and lock-up-and-go convenience, has been well documented. “This increased density has resulted in an increased demand for everyday facilities close by these developments, like shopping centres, schools, clinics and the like.”

He says that time is a commodity we all cannot afford to lose, and as residents of these areas find themselves spending more time in their cars and less time at the office or at home, the demand for offices in the immediate area evolves.

“We have reached this point in the Fourways, Broadacres, Dainfern and surrounding areas, and, as such, Renprop teamed up with such a developer, and selected Cedar Road as the ideal location for its latest commercial office space development, Cedar Gardens Office Park.”

Cedar Gardens Office Park is a development aimed at medium-size businesses looking to rent office space. “Due to the high volume of traffic along Cedar Road, the prime position and visibility of the office park will give the businesses in it a high level of exposure,” says Walters. “Proximity to the Lanseria International Airport, which is only 6km away, adds appeal to this office park’s location.”

Specific offers and packages at Cedar Gardens Office Park will be customised for prospective clients with the aim of providing office units of approximately 240m2, 360m2, 500m2 and 1 000m2 at around R125 to R135 per square metre. The present value is inclusive of operational costs, but exclusive of VAT, utilities and parking.

Walters explains that the development will be divided into a three-phase development program comprising of three separate pieces of land facing the corner of Runnymead Avenue and Cedar Road. “While each phase of the project will stretch over a 14 month period, the entire development should be complete and fully operational in just over two years, with the first phase complete by November this year. The first phase of the development will be on a piece of land measuring 4664m2 in Chartwell Extension 6, comprising two buildings measuring 2200m2 and 550m2 respectively which are already fully let. The plans also include 110 parking bays.”

Cedar Gardens Office Park will be fully secured with a perimeter fence and access control. In addition, Walters says that the buildings will be developed to meet green building specifications so that they require less energy and water to operate, thereby reducing tenants’ costs.

According to Walters, phase two of Cedar Gardens Office Park will be complete in June 2014 and the final phase of the development will be fully operational by January 2015. Once complete, the total office space will measure around 17 500m2 and will provide approximately 700 parking bays.

“In today’s competitive market, a good, visible and central location is vital for a business to maximise its opportunities for success. An office park that is situated in a prime position with high levels of exposure could be the very thing a business needs to take it to the next level,” Walters concludes.

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