Just a few units in Horizon Capital’s AAA-grade office development in Century City are still available to purchase. The buildings are currently coming out of the ground, with completion expected in phases from November 2012 to March 2013. Horizon Capital is offering investors an exclusive opportunity to purchase the remaining AAA-grade office property located in a prime area within Century City at an attractive initial yield. The total sales value of the development is R60 million, with Horizon Capital having increased the development by 500m² to satisfy the growing demand from investors and tenants for small, top-quality sectional title office properties.
The office units will range in size up to approximately 280m², with flexible leasing options resulting in space available to let as small as approximately 100m². There is also the option of purchasing or leasing an entire building of approximately 550m², which would result in a business being able to name the building. Prices start at approximately R2.3 million excluding VAT.
The development is ideally situated in Century City, which far outperformed the Cape Town average in the latest SAPOA office vacancy survey. The growing popularity of Century City as an office destination is due to its convenient location, extensive public transport system, excellent security, and wide range of nearby amenities. Adding to its appeal is Century City Connect, an open access fibre network which will offer tenants the country’s fastest broadband data, voice and multi-media services.
This will be one of the first SA developments to provide green office space for smaller tenants, with a focus on energy and water efficiency. In addition to reduced operating costs, building occupants will benefit from an improved working environment, and Horizon Capital expects the buildings to command better rentals and capital values as a result. The development offers investors tax benefits in terms of the Income Tax Act (S13), which allows new building owners to claim a portion of the cost of the property as a tax deduction, in addition to the usual expense and interest deductions.
Horizon Capital is a “boutique” Commercial Property Investment House based in Cape Town. It provides a comprehensive service to its High Net Worth clients, specializing in building and managing directly-owned, diversified commercial property portfolios, with the objective of long-term wealth creation. Horizon Capital has acquired excellent experience in the niche of smaller sectional title offices. Typical clients are successful business people who wish to diversify their investments to achieve a high yield along with capital growth, or retirees who wish to receive a monthly income while enjoying the capital security of property investment. Should you become one of Horizon Capital’s High Net Worth clients, the Park Lane development would be one of the many top-quality commercial property investment opportunities available to you.
For further information, sales and leasing enquiries, please contact John Witter at Horizon Capital on 021 425 8586 or 082 906 2866.
