Growthpoint now owns the iconic R500 million office property, The

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Growthpoint now owns the iconic R500 million office property, The Powered By Docstoc
					Growthpoint now owns the iconic R500 million office property, The Place at 1 Sandton Drive

The R500 million landmark offices located at South Africa’s premier address is also set to become the flagship corporate head office of its owner, South Africa’s leading JSE-listed property holding and investment company, Growthpoint Properties Limited. The Place at 1 Sandton Drive comprises 31,000m2 of premium grade office space which shares the sought-after address, 1 Sandton Drive, with the American Consulate and the Core Group. Construction of The Place at 1 Sandton Drive began in May 2006 and was complete for phased occupation earlier this month (April 2008).

At a yield of in excess of 10% according to the latest feasibility studies, it is no wonder the CEO of Growthpoint Properties Limited, Norbert Sasse, considers it one of the company’s best investments.

Growthpoint will occupy approximately 4,700m2 of its flagship office property. “The Place at 1 Sandton Drive is one of South Africa’s premier office locations offering exceptional exposure for its tenants and an array of superior facilities,” says Growthpoint Properties Limited CEO Norbert Sasse. Growthpoint is joined by multinational company Aon in 12,000m2 of premium space on the top two floors of the building with its 360 degree panoramic views of Sandton, Sandhurst and surrounds. Macquarie Africa occupies some 6,000m2 of this prime office space. Both have committed to The Place at 1 Sandton Drive on 10-year leases. “As property owner and occupant, we are delighted to share the building with major international companies and blue-chip national clients of the high calibre of those which have been attracted to The Place at 1 Sandton Drive and we welcome them to this prestigious building and address,” commented Sasse.

This five-storey office building has been planned to be flexible with innovative design elements and features which creates a sense of individual identity for each one of its tenants. Each office is self-contained, ranging from smaller pods to larger floor plates, allowing the tenant to select their preferred interior features and manage internal infrastructure in each self-contained unit, which provide interior toilets and tea kitchens. Energy was a key consideration in the design of The Place at 1 Sandton Drive which

includes a green, performance glass, thermally-efficient building envelope, which serves to reduce power consumption. The building has full standby electricity with excess of capacity which has been offered to power the traffic lights on the corner of Alice Lane and Sandton Drive during power cuts. In its own premises, Growthpoint will be using an electro-sensor for the intelligent lighting of the premises, an option that is available to all tenants of the building. “The Place at 1 Sandton Drive is designed with state-of-the-art services and materials which ensure its sustainable functioning and will allow it to remain one of Gauteng’s premier office space for decades to come,” says Rudolf Pienaar, Growthpoint’s Divisional Director: Office Portfolio. The strong emphasis on security is confirmed in the building’s sophisticated CCTV camera system, single reception area, turnstile access and high-tech control room. Ample parking is provided in 1,500 undercover parking bays on five basement levels. The high-tech facilities inside The Place is complemented by the soft features outside the building with window boxes of blooming indigenous plants softening the Western façade. The landscaped berms leading down to Sandton Drive also feature indigenous planting, with the parking also screened by green planting for enhanced aesthetics. The building takes advantage of its natural ‘viewsite’ to make a powerful and memorable architectural statement and is able to incorporate the branding of each tenants’ logo on specially designed panels on the building’s exterior – the larger the tenancy, the more signage panels allocated to the company. The Place at 1 Sandton Drive is arranged around twin atriums, correlating with the dramatic exterior flair columns, which bring light into the interior. A ground-floor communal piazza provides an informal meeting place both inside and outdoors. Coffee shop Gabiano, part of the Gruppo Mastrantonio, serves the needs of the building’s occupants -- from a daily buffet and a la carte menu in the restaurant to silver service in the tenant’s own space. Pienaar explains that the vision for The Place at 1 Sandton Drive is to link it, via a pedestrian bridge across Sandton Drive, to neighbouring Sandton City and discussions regarding this are currently underway with various stakeholders and authorities. Only some 768m2 of space at The Place at 1 Sandton Drive is still available for negotiation. “Together with the developer, Investec Property Limited, we have succeeded in attracting the highest calibre of tenant as well as achieving top-end rentals for the building. Once the major tenancies were secured, we strategically held back on letting as we were of the opinion higher rentals could be achieved closer to the practical completion date. This strategy has proven highly rewarding,” says Pienaar. Note to editors: 1. Activity currently underway in the Piazza of The Place at 1 Sandton Drive is a result of the installation of floor granite, which was held back to prevent potential scarring during construction.

2. Snag work is being completed after hours and on weekends to accommodate tenants. Once this is concluded, the lighting of the building will not remain on at nights and on weekends. ~ Ends ~

Issued on behalf of: Cell 083 632 1599

Growthpoint Properties Limited Norbert Sasse: CEO Tel. 011 286 7306

Rudolf Pienaar: Divisional Director - Office Portfolio Tel: 011 286 7181 Cell 082 450 3926 By: Marketing Concepts Sandy Davey / Bronwen Noble Tel 011 783 0700 Cell 083 453 6668 (Sandy) Cell 082 855 4349 (Bronwen)

Jaclyn Lovell | Marketing Concepts 7th Floor | East Tower | Twin Towers| Sandton City : + 27 11 783 0700|: +27 11 783 3702 | : jaclyn@marketingconcepts.co.za| : www.marketingconcepts.co.za


				
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Description: Growthpoint now owns the iconic R500 million office property, The