Sandton development

In just four years, Sandton is scheduled to see the opening of Discovery’s latest 87,000 square metre head office.

The head office is to be developed by Growthpoint Properties and Zenprop, in a joint venture which has been called the largest single commercial office development of Africa.

55% of the building will be owned by Growthpoint, as the remaining 45% will be owned by Zenprop.

Growthpoint’s CEO, Norbert Sasse explains that this is systematically four/five years’ worth of property acquisition – A longer term project than it may seem.

The head office will be situated at the corner of Katherine Street and Rivonia Road, a region which has become a commercial development centre during recent years.

Randburg Rising

Randburg, which lessened some of its charm on the back of Sandton’s popularity over recent years, is now poised for the return of developers and investors.

Consisting of over 32 suburbs, with the majority being upper-income residential suburbs, the area had begun to wane. A JHL leasing consultant explained that there was a migration of industrial and retail investors toward Northern suburbs, such as Cresta and Sandton.

However, with municipal plans to renew and upgrade infrastructure, JHL forecasts Randburg to attract new investors as well as former investors. It is now a designated a priority area and significant commercial point of the City of Johannesburg’s five-year Integrated Development Plan.

Therefore, Randburg as well as other suburbs, will benefit from developments in road infrastructure and public transport of the Rea Vaya Bus Rapid Transit system (BRT) expansion. It is aimed to provide easy access to Johannesburg suburbs via the Rea Vaya BRT system, which the City of Johannesburg are calling the ‘corridors of freedom’.