The Golden Mile attracting billions in investment

The so-called “Golden Mile” situated in Sandton is attracting property investors from far and wide, especially those looking towards eco-buildings.

Artist's Impression of the Discovery Building (Image via SkyscraperCity)

The latest development is that of Growthpoint and Zenprop - an eco-office building development of 87 000 square meters for Discovery, with a R2,9 billion price tag. 

According to Norbert Sasse, CEO of Growthpoint the building is “not only the single biggest office building in Africa but also the most exciting.” The previous record was the 65 000 square meter Standard Bank green office building in Rosebank, which cost R2,7 billion to build.

The new Discovery building will have 429 toilets, 13 760 tons of reinforced steel bars will be used in the construction , the glass facades will stretch across 26 000 square meters and the tiles used in the building will stretch out over 46 000 square meters.

Rudolph Pienaar, divisional director of Growthpoint’s office portfolio, says that they are aiming to get a four star grading from the Green Building Council of South Africa (GBCSA)

Some of the green features of the building includes ensuring the utilisation of natural light, rainwater collection and energy-efficient lighting. Furthermore they are focusing on ensuring that projects are in walking distance from Gautrain stations, cutting down on carbon emissions of employees commuting to work.

Growthpoint will own 55% of the building while Zenprop will own 45%, Discovery will move into the building in 2018 with a lease of 15 years with an option to renew.

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