Horizon Capital is to develop three AAA-grade sectional title office buildings, to be known as Hyde Park House, Oxford House and Piccadilly House, in Park Lane Office Park in Cape Town’s Century City. With a total sales value of approximately R45 million, the development is expected to be complete at the end of 2012.
Horizon Capital is a “boutique” Commercial Property Investment House based in Cape Town, providing a comprehensive investment and management service to its High Net Worth clients, specializing in directly-owned, diversified commercial property portfolios. Horizon Capital has acquired excellent experience in the niche of smaller sectional title offices and has incorporated this understanding into the development in order to provide offices which will let easily and provide excellent long term investments. A full team of top professionals in their industries have been employed, overseen by Horizon Capital’s own in-house team of property professionals.
Century City is a 250ha mixed-use development, conveniently located, with a strong public transport system and excellent security. The Park Lane Office Park precinct is located in the heart of this “city within a city” and is within easy walking distance of many amenities, including Canal Walk Shopping Centre, Intaka Island nature reserve, the Century City Clubhouse, a sports oval and a daycare centre. A top convenience retail-chain and popular coffee shop are both due to open stores just a few metres from the development. The offices will be linked up to Century City Connect, an open access fibre network which will offer tenants the country’s fastest broadband data, voice and multi-media services.
The sectional title office units will range in size from approximately 200 to 250m², with flexible leasing options resulting in space available to let as small as approximately 80m². There is also the option of purchasing or leasing an entire building of approximately 500m². Semi-basement and ground-level parking bays will be provided, along with balconies, large terraces and storerooms with certain units. The offices are to be developed to a high specification, with AAA-grade finishes throughout.
A number of green building initiatives will be included in the design of these office buildings, with a focus on energy and water efficiency in order to reduce operating costs and mitigate the risks of non-compliance with future regulations. In addition to lower running costs, building occupants will benefit from an improved working environment, and Horizon Capital expects the buildings to command better rentals as a result. Some of these innovations include energy-efficient lighting; movement and daylight sensors; good natural lighting and ventilation; electrical sub-metering; zoned, occupant controlled air-conditioning; recycled, non-potable water for landscaping and toilets; water-efficient fittings; indigenous landscaping; recycling facilities; and bike storage, showers, changing facilities & lockers to encourage cycling to work.
Horizon Capital is offering investors a unique opportunity to own AAA-grade office property in a prime location, of which there is currently a shortage in the market. Prices start at approximately R4 million excluding VAT. The development offers investors attractive yields, good capital growth prospects and, particularly with gearing, the potential for outstanding return on investment. Horizon Capital would also be able to assist investors in purchasing additional properties in order to build a diversified portfolio, which they would then manage. Horizon Capital’s services include raising finance and fixing interest rates on borrowings at appropriate times. A full list of Horizon Capital’s service offering is available on request.
For any further information, and for sales and leasing enquiries, please contact John Witter at Horizon Capital on 021 425 8586 or 082 906 2866.