This development was completed on time and within budget at a total cost of R180m. OMP was the development manager on behalf of Old Mutual Life Assurance Company South Africa as investor.
Cradock Square, previously known as Mutual Square, is anchored by a new flagship Game store over two levels with street access at both levels from Oxford Road Gautrain and the bus rapid transport system (BRT) terminals and also Cradock Street Square. Game is a Massmart retail chain brand.
The total gross lettable area is 10,700m² with the Game store occupying about 6000m². Other retail will occupy about 250m² and offices 4470m² over a further three levels.
Office space still remains available for letting in the building. Green building principals have been incorporated into the building including natural ventilation, thermal insulation, daylight for reduced internal lighting and water conservation. It encompasses a central atrium with trees and a garden providing good outside perspective for the offices.
Old Mutual has an active interest in the future successful development of the Rosebank precinct. Considerable development has taken place over recent years with good working co-operation by the number of landlords with interests in the precinct.
Old Mutual’s investment to date is about R1 billion in the Zone and in Cradock Square and there are also plans for considerable further investment in the future.
Brent Wiltshire, development executive of Old Mutual Property said: “We are delighted to have partnered with Game in their flagship development in Rosebank. The opening of Cradock Square is yet another milestone in boosting Rosebank’s status as a prime Johannesburg retail and mixed use location.”