From left to right: Albert Li (CRI-Eagle Investments), Robin Magid (Investec Property) & David Hertz (Werksmans)
Investec Property and CRI-Eagle Investments (a subsidiary of China Railway Group Limited CREC) have entered into a partnership to develop a prime piece of land located in the heart of the Sandton CBD. Situated on Rivonia Road, between Katherine Street, Fifth Street and Pybus Road, diagonally opposite Sandton City and the Gautrain, the development called The Central has 100,000m2 of mixed use zoning rights for office, retail, residential and hotel developments.
The site has already attracted leading law firm Werksmans Attorneys (“Werksmans”), who will be relocating their Johannesburg head office to The Central. Werksmans will be occupying 12,500m2 of this new 20,000m2 building, making them the anchor tenant.
Commenting on Werksmans’ move, Robin Magid from Investec Property said: “We are proud and honoured that Werksmans has chosen this site as the new home for their Sandton office.”
“We believe this prime location is the most strategic site of its size in the Sandton area, hence the name – The Central. Our vision is to create a central hub that truly encapsulates the ‘live, work, and play’ philosophy. Sandton remains the premium destination for South Africa’s major corporates who want to be located right in the heart of the CBD, in close proximity to the Gautrain and other amenities Sandton has to offer. “
David Hertz, Chairman of Werksmans said: “I am excited to be leading Werksmans through its move to new premises in 2017. Our new address will offer us much-needed space for a growing firm. The look of the building is designed to reflect our long history with a contemporary glass projection embracing a 21st century look and feel. For Werksmans this reinforces and entrenches our long standing relationship with Investec.”
Christine He, a Director of CRI-Eagle Investments added: “We are extremely proud to be involved with a development of this stature and this more than justifies our company’s decision to purchase this strategic piece of real estate.”
Commenting on the design of the building, Gavin Bernstein of Investec Property said: “First established nearly 100 years ago, Werksmans has long been part of the legal landscape. However the time has come to embrace a new landscape and the design of this iconic building represents a merging of establishment and progression. We further believe that this design and the space layout will be very attractive to other tenants, as we have provided for separate entrances and parking requirements.”
The building will be energy efficient with state of the art finishes and connectivity, making it the most premium sought after office space in Sandton. Preparation for the construction of the first building earmarked for office use has begun and completion is expected for Q4 2017.