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Emira signs deal for 1st phase of R795m Knightsbridge redevelopment

Jul 12 2016 19:23

The Knightsbridge office park in Bryanston. (Supplied)

Company Data

EMIRA PROPERTY FUND LIMITED [JSE:EMI]

Last traded 12
Change 0
% Change -2
Cumulative volume 552889
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Emira Property Fund [JSE:EMI] announced it has signed an agreement with WSP|Parsons Brinckerhoff for approximately 5 800m² of premium quality sustainable head office space at its Knightsbridge office park development in Bryanston.

This transaction triggered the first phase of Emira’s R795m total redevelopment of the excellently placed park, formally known as Knightsbridge Manor. WSP|Parsons Brinckerhoff’s head office will be the first of seven buildings developed at the park, which will more than triple the size of the offices at Knightsbridge.

The new office park will also boast a minimum 4-Star Green Star SA rating from the Green Building Council of South Africa.

Construction at Knightsbridge began in January, and WSP|Parsons Brinckerhoff will begin working from its smart new address on Sloane Street, opposite Dimension DataCampus, from September 2017.

Geoff Jennett, CEO of Emira, said Bryanston is fast becoming the preferred alternative to Sandton for blue-chip businesses and large A-grade and P-grade office users.

Bryanston is the fourth largest office node in Johannesburg after the CBD, Sandton and Midrand. It has relatively high office occupancies. According to Sapoa, Bryanston’s office vacancies were 6.2% for the second quarter of 2015, compared with a national average of 10.6%. It’s also an area that is upgrading and developing, especially around Nicolway Bryanston shopping centre, Ballyclare Drive and Main Road.

investments  |  property  |  reits
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