Park Lane, a new 11 000 sq m office park being developed at Century City will offer buyers land at prices ranging from R3 150 to R3 400 per bulk metre. The sites vary in size from 440 sq m to 1 100 sq m.
According to John Chapman of Rabie Property Group, the development is a result of a demand from buyers for smaller plots of land that had office rights.
The site for this development is in the heart of Century City, adjacent to Central Park and within easy walking distance of Canal Walk, Intaka Island and the public transport interchange.
Chapman says the entire office park has been designed holistically as a village of offices. Architectural guidelines have been drawn up by Tim Hughes Architects to ensure that each individual building will protect each purchaser’s investment in the area.
The designs apparently allow for a mix of undercover and courtyard parking although there is a strong emphasis on pedestrian pathways. Servicing of the site will start at the end of this month and the transfer of land will take place in April next year.
Chapman estimates that the investment in Park Lane will reach about R200-million and will bring the amount of commercially zoned land developed or sold at Century City to just under 300 000 sq m.
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