A 3D rendering of the interior of Ibis House, a AAA-Grade Sectional Title Office Development in the Estuaries, Century City, being developed by Horizon Capital with expected completion in July 2014.
Horizon Capital has embraced various green building initiatives in its previous developments, and its latest AAA-grade development, Ibis House, is currently targeting a 4 Star Green rating with the Green Building Council of South Africa (GBCSA). In order to reduce operating costs and improve the working environment for occupants, there has been a focus on energy and water efficiency. John Witter, CEO of Horizon Capital, outlined that Ibis House could become the first certified green office space for small to medium tenants in South Africa.
As the electricity tariff increases in South Africa continue to exceed inflation, energy efficiency is becoming increasingly important to tenants and therefore to landlords. An energy saving of 36% has already been recorded, and Horizon Capital has committed to a reduction in potable water for landscaping by 90%, and expects considerable monthly water savings when compared to non-green buildings of a similar size. By focusing on a reduction in energy costs, savings for tenants can be significantly higher in green buildings in comparison to traditional buildings designed to meet SANS 204 standards. Large multi-national and government tenants are increasingly demanding certain green requirements for their accommodation, so landlords of green buildings are able to attract and retain these blue-chip tenants and improve overall occupancy.
Ibis House, measuring 1400m2 in extent and consisting of eight units in total, is sold out and Witter believes that part of the reason for its success can be attributed to it being a green investment. Green buildings are “future-proofed,” be it against increases in utility costs, potential energy and water supply problems, tightening legislation, carbon taxes, mandatory carbon disclosure or costly retrofits in the future.
Other impressive initiatives include bicycle storage and shower facilities and the building boasts ample natural light and lovely views. The development is situated in a sought-after location in The Estuaries, and is ideally positioned opposite the Crave coffee shop, which is set in beautifully landscaped gardens with water features and seating, offering a tranquil space to relax outdoors. Its location also boasts extensive public transport links, excellent security, and a wide range of nearby amenities, including Canal Walk Shopping Centre, Curro Private School, Virgin Active Gym, Intaka Island nature reserve, hotels, conference facilities, coffee shops and a day-care centre.
Letting has commenced and the office sizes range from 125m² upwards, with flexible leasing options, including an entire floor of 700m² or the whole 1400m² building, which then comes with building naming rights. The finishes will be of a high-quality, including air-conditioning and a kitchenette in each unit, and generous tenant installation allowances are offered. Semi-basement and ground-level parking bays have been provided, together with stunning terraces and balconies.
Horizon Capital is a boutique commercial property investment, asset management and development house, based in Cape Town. For further information phone Catherine or Rahla on 021 425 8586.