Greenford Park off to a flying start

THE ENTIRE phase two of the Greenford Office Park in Kenilworth, comprising seven office blocks with a capital value of R95 million, has now been sold or let.

Jean Theron of Rabie Property Group says that although the 5 600m second phase of Greenford had got off to a slow start, sales and lettings had picked up strongly since late last year, with the last block of 350m being snapped up by an owner occupier, leaving a number of other would-be buyers disappointed.

Greenford, which is next to the Kenilworth Race Course, is a joint venture between Rabie Property Group and Western Province Racing.

Construction of the 5 600m phase two of Greenford, which has been undertaken by Big Ben Construction, is practically completed with just the tenant installation in one building still under way.

Offices in phase two have been let at R110/m with purchase prices varying from R13 700/m to R16 000/m2 depending on a number of factors including size, the number of parking bays, balconies and patios.

Buyers and tenants in phase two include Unitrans, which recently rented a second building for its head office bringing its total footprint in Greenford to 2 600m CCI, Pharmaceutical Society, Velile Tinto, Human Alliance and the Pedal Power Association.

Phase one of Greenford, which is surrounded on three sides by a nature reserve and boasts spectacular mountain views, comprised 19 small office blocks totalling just over 10 000m

Leigh Metcalf of Rabie Property Administrators, which manages the office park, says that both phases fall under the same body corporate, as phase two is ostensibly an extension of the scheme, allowing for economies of scale in terms of levies, security and operational management.

“We have been able to maintain levies this year at last year’s levels which has been a big benefit for phase one owners,” says Metcalf.

Call Jean Theron or Sedica Knight on 021 550 7000.

PRIME SITE: Jean Theron of Rabie Property Group and professional valuer Debbie Wall-Smith, of Wall & Smith Property Consultants, in front of the last office block in the Greenford Office Park in Kenilworth, which was sold recently.