Construction World August 2019

SHOPPING CENTRES & OFFICE DEVELOPMENTS

Growthpoint Properties’ multi-million-rand 144 Oxford Road development is set for completion in October 2019, establishing a new landmark office address in Rosebank with a uniquely elastic design that supports modern businesses to thrive and evolve. L ocated in a prime position at the gateway to Rosebank, 144 Oxford is a nine storey, 35 000 m 2 office development with two office towers and a centralised office core with a breath-taking multi-volume atrium. Its unparalleled location perfectly matches its exceptional design created by Paragon Architects for Growthpoint. The building comprises a northern and southern wing connected by a central link. It’s elastic design features flexible spaces that can be adapted to the specific needs of businesses. Collaborative workspace can facilitate business growth, while meeting rooms and a coffee shop ensure that each client does not have to spend on space that is not always occupied. “Large office floorplates are unusual in the Rosebank area even though they are in high demand. An advantage of 144 Oxford is its sizeable floors, which can easily accommodate a whole organisation’s operations on a single level,” says Paul Kollenberg, Growthpoint’s Head of Asset Management: Office. 144 Oxford is being developed by Growthpoint’s own in-house Trading and Development Team, the driving force behind some of South Africa’s most well recognised and successful developments. “Flexibility and sustainability are everything in business today and we are proud to be developing extraordinary offices that empower agility and high-performance workspaces at 144 Oxford,” says Rudolf Pienaar, Growthpoint’s Chief Development and Investment Officer. Paragon has designed a breathtakingly innovative atrium for 144 Oxford. The opposing north and south feature walls in the atrium will be clad in natural timber slats, creating an inviting OCTOBER COMPLETION FOR 144 OXFORD

warmth. Meeting pods hang as a feature of the atrium and are not only visually interesting within the large space but also functional meeting and training rooms. Outside, the office building features a dominant landscaped stair that links it to the urban streetscape. Taking a step out of its front doors will connect you to the vibrant restaurants, food, lifestyle, shopping, hospitality and entertainment offered by the popular hub of Rosebank Mall, The Zone @ Rosebank and The Firs. This urban integration makes the most of the well pedestrianised quarter and 144 Oxford’s location directly opposite the landmark Hyatt Regency, a short walk from the Rosebank Gautrain Station and other public transport options. To optimise this link, Paragon Architects challenged themselves and the construction industry to create better streetscape environments. They came up with a landscaped stair that incorporates indigenous planting, custom landscape lighting and water features; all serving to soften the transition between public and private space. The ground floor podium level of 144 Oxford extends this landscaping, with low planter-walls rising and falling into the floor to create winding seats and private spaces. All spaces are designed for the people who work in the building to enjoy their lunch breaks and use pause areas. They are envisioned as ideal places to rest and reset. This premium office address is designed for a 4 Star SA Green Rating by the Green Building Council of South Africa, which means it is more resource-efficient and more cost-efficient. It also features standby power and water. The building offers generous parking in six basements with easy access from its dedicated traffic signalled entrance from Oxford Road. Naturally, its prominent presence on the main road creates superb visibility and excellent signage opportunities. 

Beginning acquisition INTO AFRICA

Growthpoint Investec African Properties (GIAP), the pan-African real estate investment business managed by Growthpoint Investec African Property Management, has begun executing on its strategy to aggregate a quality portfolio of prime income-producing commercial assets in select cities across Africa. G IAP, established as a joint venture between Growthpoint Investments Limited, and certain minority shareholders. Thomas Reilly (pictured), MD of Growthpoint Investec African

Properties and Investec Asset Management, announced today that it has successfully concluded the acquisition of 97,5% of Achimota Retail Centre, a prime shopping centre in Accra, Ghana. This transaction marks the first of a pipeline of assets currently being negotiated for acquisition by GIAP. Achimota Retail Centre in north-eastern Accra includes approximately 15 000 m 2 of retail space occupied by more than 50 retailers, including big names Game, Shoprite, Mr Price, Pizza Hut and KFC. GIAP also expects to announce a further acquisition of another key asset in the near term. In 2018, GIAP secured capital commitments of more than USD212-million from several large institutional and international investors. Given the current pipeline of assets under discussion, GIAP’s capital is likely to be fully invested by the end of 2019, and its investments further diversified across the office, retail and industrial sectors. Achimota Retail Centre has been acquired from AttAfrica, a joint venture of JSE-listed REITs Attacq Limited and Hyprop

Property Management, says, “GIAP has strategically timed its entry into the market to take advantage of a highly attractive entry-point into key cities which we view as offering strong growth prospects. We have adopted a very considered asset acquisition strategy with the result of being able to source quality yielding assets at very competitive prices. The business is enjoying significant momentum at the moment, and we expect this to aid the delivery of sustainable long- term investor returns.” The second transaction is expected to be finalised within the next month, after which further details will be made available. GIAP is expected to aid the development of local African real estate markets and to contribute to the wide-ranging developmental impact which real estate can have in such markets. 

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CONSTRUCTION WORLD AUGUST 2019