The launch of Illovo Point celebrates the status of Illovo’s commercial node which continues to show excellent growth on the back of its reputation as one of the most desirable office addresses in Johannesburg.
Sectional title specialist developers FWJK will deliver a 15 750m² mixed use building in a joint venture with international property developer HBW Group. According to Rhys Rocke, regional director for developers FWJK, the exclusive and accessible location of Illovo has proved to be a key drawcard for blue chip companies wanting to avoid the traffic congestion of Sandton Central. Pre-sales take up of office space include Strauss Daly Attorneys together with Fournos Bakery, Mythos and Catch taking up the bulk of the ground floor retail space.
Rocke went on to say that, “Sectional Title ownership of A+ grade office space is in high demand particularly from private investors who are signing long-term leases with tenants wanting to move out of the Sandton CBD. Tenants of the future are demanding office spaces which embrace a higher quality of work-life and encourage better productivity in their employees. Ample parking, corporate entertainment areas, energy-saving green design and guaranteed power and water services are some of the features incorporated into this timeless design.”
Set to be launched early in September 2015, investors will be able to secure an option to purchase a particular office suite via an online interactive reservation system. The development is estimated to be ready for occupation in the 3rd Quarter of 2017. Demand is expected to be significant considering the launch price being sub R29 000/m² which is approximately 25% below current market prices. The added attraction of this development is its excellent parking provision and its close location to the Gordon Institute of Business Science, JP Morgan, Summer Place, St David’s College and the Wanderers.