The excavation process for the 35 000m2 144 Oxford premium-grade office development in South Africa has started; this is according to SE-listed Growthpoint Properties, the company handling the project.
Located on Rosebank, Gauteng opposite the landmark Hyatt Regency, the office building will entail two office towers of about 17 500m2 each. It will also feature a glass façade across two interlinked towers, each providing exceptional views across the city and is anticipated for completion in October 2019.
High demand for office space
Growthpoint office division Asset Manager Mr. Paul Kollenberg confirmed the reports and said that there is a high demand of growth for premium-grade office space in the Rosebank node hence attracting leading businesses.
“Demand for space in the well-located Rosebank office hub can be seen in its premium-grade rental levels, which currently surpasses those of Sandton and Melrose, both in Gauteng,” Paul said.
Growthpoint Properties office division Director, Mr. Rudolf Pienaar also commented and pointed out that they have come up with a high-performance workspace in a preferable office building. The building which is designed for top businesses is focused in positioning itself optimally for productivity and staff retention and enjoys a healthy and energizing working environment where their business, people and partners can succeed.
Growthpoint currently has an objective of having a 4-Star Green Star SA rating from the Green Building Council of South Africa for the development.
Growthpoint is the company behind two of South Africa’s most anticipated developments in the last year. It is a co-developer and majority co-owner, with partner Zenprop, where they have an outstanding new Discovery global headquarters in Sandton Central, which at 112,000 sqm is the largest single phase commercial office development in Africa.
- Office occupancy levels in major cities in South Africa still low
- South Africa to construct a combined-use Menlyn towers
- South Africa’s US $78m mixed-use office development almost complete
- Phase 1 of US $96m Umgeni commercial development set for completion
- Phase 1 of Loftus Park mixed-use development almost complete