Abland Property Developers breaks ground on Century City office development
Abland Property Developers has started construction on Canal Plaza, a new office development in Cape Town’s Century City, in partnership with Gutsche Investment (GIMCO), the Moolman Group and Blue Dawn Capital.
Abland says the development in the popular mixed-used precinct was prompted by rising demand for high-quality workspace in well-connected business hubs.
Canal Plaza’s gross lettable area will span 10 333 m² across four floors.
The P-grade, 5-Star Green Star rated development will offer backup power and water, high-speed fibre and access to public transport via a nearby MyCiTi bus stop.
Tenants will receive fit-out allowances on top of white box specifications that include lay-in ceilings, zoned air-conditioning, lighting and smoke detection.
Set for occupation in May, next year, the development will overlook the Intaka Island Nature Reserve, and is within walking distance from the Canal Walk Shopping Centre.
Abland does not disclose the value of the development.
“Century City’s modern infrastructure, green spaces and mixed-use appeal offer strong value for corporates,” says Abland Property Developers director Grant Silverman.
“As more businesses return to the office or adopt hybrid models, they are looking for environments that support productivity, talent retention and workplace culture, and Canal Plaza responds to this business need.”
In Cape Town, Abland’s other office developments include The Rubik and 35 Lower Long.
Canal Plaza is the fifth Century City office asset investment for GIMCO.
GIMCO’s portfolio of retail, office and industrial properties is focused mainly in Cape Town and Port Elizabeth.
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