New R215m Tyger Valley office block

New R215m Tyger Valley office block

Architect’s impression of Ingenuity’s new R215 million office building under construction in Charl Cronje Drive, Tyger Valley.

JSE-listed property investment and development company, Ingenuity Property Investments, is developing a third office block in its prestigious Santam office park in Tyger Valley at a cost of R215million.

Ingenuity chief executive, Arnold Maresky, says Glacier and Santam, both part of the Sanlam Group, will be occupying more than 60 percent of the 12 350 m2 building, which is due for completion in March 2013. A total of around 3 800 m2 in the high visibility office block will be available to tenants.

The 12 storey building, designed by Chris Bam Architects in a modern vernacular, will include 581 parking bays over five storeys, giving an extremely generous parking ratio of 5.7 bays for each 100m2 of gross lettable area which Maresky says will help remedy the parking shortage in the Tyger Valley precinct.

He says Ingenuity acquired the 27 054 m2 site and its two existing office blocks that house the Santam Head Office a few years back, with the intention of adding value and unlocking bulk on the substantial site as part of its growth strategy.

Formal development rights for the construction of the third building were approved during the past financial year and construction started in November 2011. On completion the total Santam scheme will consist of 27 500 m2 of gross lettable area and 1 060 parking bays occupied by blue chip tenants on long leases.

Maresky says the site is on Carl Cronje Drive close to the N1, giving easy access for people commuting from a number of different locations in the city. It is also within easy walking distance of a variety of local amenities such as the Virgin Active gym, Tyger Valley shopping centre and the Velodrome precinct, where future redevelopment will include a host of new shopping and dining opportunities and an upgraded pedestrian environment ensuring a safe and pleasurable walk between the office, the gym and shopping amenities.

Ebrahim Asmal, group sourcing executive head for the Sanlam Group, says the group has enjoyed a solid partnership with Ingenuity and the new development offers them various opportunities.

“We are encouraged by the developments in the area,” he says.

Maresky says that in terms of the planning process, the northern district of the City of Cape Town is very committed to the refurbishment of the Tyger Valley precinct and has collaborated closely with the developers.

Charles Rudman, district manager of planning and development, says the building fulfils all the requirements of new urbanism, providing a good quality human environment and promoting an active street interface at ground level with the basement parking being screened from public views by curtains of office space.

“It is a building that starts to incorporate all the place making principles which we would like to see in all future developments,” he says.

This project brings the value of redevelopment projects underway by Ingenuity to more than R500m. These include Newspaper House in St George’s Mall and the Atlantic Centre on the Foreshore.

The professional team on the Santam development includes Chris Bam Architects, Bigen Africa (structural and civils engineers), LDM (quantity surveyors), JD Reitz (mechanical and electrical engineers), SHE Consultants (health and safety), Neil Moir & Associates (fire consultants), BKS (traffic engineer), Urban Dynamics (town planning), David Heilig (land surveyor), Aspect Landscape Architecture and WBHO as the main contractor.

 

 

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