Areas and Places News

R14 million refurbishment for Waterford House at Century City

Waterford House


Refurbishment of Waterford House is on track for end of year completion with the Landlord GIMCO  investing a solid R14 million into this project.

The key focus of this upgrade is to ensure that tenants stay current.

This timeless office block located in one of the older more established precincts of Century City boasts a number of sound blue chip tenancies. The unique loft space will become available later this year post a scheduled refurbishment.

The building offers good security, ample parking, a full back-up generator, and fibre-optic network. The major value add  is the introduction of a passenger lift to the building and modernization to the building in terms of lighting and ceiling space. There will be a complete refurbishment of all general lobbies, common areas and fire escapes. An attractive feature of the final upgrade will be in introduction of of exclusive use balconies for tenants.

The architects, MLH have cleverly introduced fresh design elements of wood and steel to Waterford House through the introduction of the very contemporary balconies.

This refurbishment together with Waterford House’s close proximity to shops and restaurants makes for a desirable address at Century City.

AssetMatrix on behalf of their client GIMCO have been involved in Century City since the early days with their initial investment back in 2000.

Together with Century City their portfolio has grown and matured and today AssetMatrix quietly adds value to growing their clients portfolio through a top down, bottom up approach.

Overview of Recent and  Upcoming Developments

The number of sustainable buildings registered with the Green Building Council of South Africa (GBCSA) and either awarded or awaiting a Green Star rating is growing exponentially.

Two recent additions being developed by AssetMatrix on behalf of their client GIMCO  are Estuaries Plaza, and No 17 Park Lane.

Estuaries Plaza Landlord, GIMCO, successfully concluded a lease with Old Mutual Wealth as anchor tenant on a five plus five year basis, and the building has subsequently been rebranded “Old Mutual Wealth”.

Old Mutual Wealth has been developed on a high visibility site on the corner of Ox Bow and Heron Crescent, and offers a beautifully balanced combination of luxury and environmental awareness.

The building is registered with  the GBCSA with a view towards achieving a 4-star rating in the As Built category.

MD Viv Gutsche says green measures implemented include a state-of-the-art air-conditioning system with full economy cycle to provide free cooling when outside conditions are favourable, ensuring employees comfort control; a grey and black water system; grey water irrigation; high-performance glazing to reduce glare and radiant heat; and an innovative ‘Green Lease’, in terms of which both the landlord and the tenant undertake to run the building according to environmentally friendly principles.

“The generator is specked for full building services and, together with the grey and black water systems, the landlord can entirely  take the building off the council grid if the need arises, benefiting the tenant in terms of productivity and managing costs.”

She says the second prospective Green building in their portfolio at Century City to be registered with the GBCSA, No 17 Park Lane was aiming for a 5 Star design rating. This 3247 square metre building has 93 undercover parking bays and 17 open bays and has been fully let.

Gutsche said one of the notable green features of the building is that it is expected to emit up to 50% less Green House Gas emissions than a SAN204 base building which will lead to significant energy savings for both the tenants and the landlord.

DSV Consulting Engineers’ Heinrich Badenhorst  said other green features include energy efficient lighting with occupancy and daylight harvesting sensors; a state of the art computerised Building Management System (BMS) that monitors and controls energy consumption and records all the building services including electricity usage and demand, lighting, air conditioning, water, standby generator, electronic installations and the like.

He said recycling facilities have been well provided for in addition to the usage of recycled water for irrigation purposes.

In terms of landscaping all plants will be taken from the CCPOA approved list with the focus being on waterwise, indigenous  landscaping.

He added that the building will be equipped with a standby generator to provide 100% standby power.  The generator has been specified for low emissions and complies with the Tier 3 emission standards successfully reducing the carbon footprint of the building.