Redefine planning to redefine Sandton's status
Category News
Sandton Central is called "Africa's richest square mile" and it's not surprising considering the businesses that occupy most of the commercial property on this very valuable real estate. The JSE, bank headquarters and other financial institutions, as well as legal and investment property owners and tenants have an image to uphold, which means that Sandton needs to constantly upgrade its buildings and facades, and keep pace with not only the economic environment in which they operate, but also the new laws and regulations on buildings.
Redefine Properties is the latest to make a substantial contribution to Sandton's world-class reputation, with a R505 million redevelopment of the old Allcare building at 90 Grayston Drive. Head of Development at Redefine Properties, Mike Ruttell, says that this is the company's largest commercial office development project ever undertaken, and that they are on track for its completion in July 2014.
The shiny new building at 90 Grayston Drive will consist of a 16-storey office building, providing 19 342 sqm of premium-grade office space. Office workers will have no trouble finding parking because the building will have five levels of below-ground parking and six levels of above-ground parking, along with nine levels of office space above an elevated atrium. The building will also feature an incredible innovation in that the top two levels of parking have the potential to be converted into office space in future, when tenants and office employees make more optimised use of public transport and no longer require individual parking.
90 Grayston Drive is one of Redefine's flagship developments in their strategy to include in their portfolio a diverse range of higher value, premium-grade addresses. Redefine is excited to see their critical landmark rising up in such a prestigious commercial node. It will be flanked by such impressive neighbours as Investec, with other blue-chip companies and the JSE just a short distance away. Not only will Redefine's premium-grade building be situated in one of the most enviable corporate addresses, but its proximity to so many convenient amenities makes it that much more valuable. Sandton is a bustling hub of commercial and retail activity and there are many hotels, gyms, transport facilities, shops, and restaurants very close at hand.
In sticking with commercial development trends (soon to be regulations), 90 Grayston Drive will achieve a Four Star Green Star rating from the GBCSA, for its resource-efficient construction and service installation, optimisation of energy consumption, and the reduced overheads costs it will offer once up and running.
When open for business, offices at 90 Grayston Drive will be leased to a variety of tenants, with floor space starting at 1 250 sqm.
Author: Ash Brook Commercial Properties
