A view of The Matrix Offices situated in Century City Square, Cape Town.
All 24 sectional title offices in a new mixed use development, The Matrix, at Century City, have been sold for a total value of around R90 million ahead of completion.
The Matrix forms part of the R1 billion Century City Square development which includes a 1200 seat conference centre, a 125 room hotel, restaurants, offices and apartments all situated around a public square and served by 1330 parking bays.
The building comprises 1300 square metres of double volume retail on the ground floor, three floors of offices totaling 4500 square metres topped by three floors of apartments. All 51 apartments in the development have also been sold off plan for a total of R100 million way ahead of completion.
Jean Theron of developers Rabie Property Group says the sectional title offices, which vary in size from 118 square metres to 345 square metres, have been sold to a mix of owner occupiers and investors.
“We are now busy letting the sectional title offices for investors at R165 per square metre and, as the offices get nearer to completion, interest is picking up strongly particularly among small to medium size companies wanting to be situated in this new commercial hub which is populated by large national and international corporates such as Absa, Chevron, Philip Morris and Thompson Reuters. In fact the Matrix offers a unique opportunity for smaller users to be situated in this new commercial and hospitality precinct and its edgy mix of retro and contemporary
architecture and combination of face brick facades with concrete, glass and steel, makes a strong creative statement.”
Occupation is expected from early April with transfers expected to take place on a phased basis from mid-April. Theron said with over 1300 parking bays owners and tenants would have no shortage of parking.“Flexible parking solutions are available allowing high parking users unrivaled parking ratios,” he said.
He said many factors added to the appeal of Matrix to both residents and businesses.
“These include its location at the heart of the new commercial hub of Century City with three restaurants and three coffee shops spilling out on to a public square; its access to high speed fibre optic connectivity through Century City Connect; its access to public transport with its own MyCiTi stop and in easy walking distance from the Century City Railway Station and the fact it had been developed as a Green Building which will substantially reduce operating costs going forward.”
According to Theron, negotiations for the ground floor showrooms and retail space are proceeding with interested parties to ensure the best possible tenant mix.