Willowbridge Place sold to Growthpoint Properties

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Conveniently placed near the Durban Road on- and off-ramps, it comprises two office towers and presently offers lettable area of 6110 sqm in one office tower and 495 sqm of retail space. The five-level multi-tenanted development features a spaciously elegantly modern reception lobby on ground level. There is ample secure basement parking for staff and visitors alike. It has access control and 24-hour security with CCTV. Offices start at 1100 sqm to 6110 sqm, and provide for tailor-made space planning and flexibility.

The development is also benefiting from company's energy-efficiency and sustainable development expertise. It has already achieved two 4-Star Green Star certifications for recent office developments. It will also be seeking certification on five further developments. It has developed over R3 billion in new offices.

"Our goal is to give users the best experience. We aim to balance aesthetics, functionality, flexibility, sustainability and energy efficiency when we build new offices. We believe Willowbridge Place achieves this," says Rudolf Pienaar, Growthpoint Properties divisional director for offices.

Energy efficient measures at Willowbridge Place include a lighting management system linked to air conditioning for best use of natural lighting as well as heating and cooling. Efficient luminaries, diesel generator back-up power, a central UPS system and water storage tanks all add to the innovation in this cutting-edge office building.

Even its design is energy efficient. This contemporary commercial building responds to its climatic position, while taking advantage of the views from the office levels. It allows ample natural light in on the north and south facades, while shading the east and west with slot windows.

"Its prominent east and west facade makes best use of its frontage on Carl Cronje Drive and facing Willowbridge Shopping Centre, affording businesses enviable signage visibility on this busy road," notes Gregg Huntingford of Growthpoint Properties Cape Town office division.

"The building offers many distinctive benefits for the Cape Town office market. This asset furthers our green building drive and improves our portfolio of quality investments," adds Pienaar.

Active portfolio

Huntingford is positive about office property fundamentals in its Cape Town portfolio. "The office portfolio is performing exceptionally, compared with the industry average. We have a low 2.5% vacancy in our Cape Town office portfolio of 273 000 sqm of offices. Our vacancies have improved dramatically since 2009."

In contrast, the overall office sector in Cape Town is experiencing relative high vacancies, especially in the CBD at 12% and Claremont where office vacancy levels are between 15% and 20%. In Century City, office vacancies are about 8%.

"A major contributor to the office portfolio performance is our focus on quality assets and investment in office upgrades. This increases the quality and attractiveness of our properties. Nurturing good client relationships is a focal point for the company, resulting in the positive retention of tenants," he concludes.