Construction World August 2015

PROJECTS AND CONTRACTS

WESTERN CAPE back on radar Leading national property development and asset management group, Atterbury, has secured the development of a new six-storey office building in Cape Town in its first commercial property development in the Western Cape in recent years. When complete the building is expected to be valued at around R225-million .

Van den Berg comments: “Citadel approached us to find a prime site and to develop a new office for them in Cape Town. They are currently based in Claremont and wanted to stay in the area. Catalyst became involved as they owned the site opposite Cavendish, and the develop- ment became a reality in the form of a joint-venture.” He adds: “Atterbury’s tagline is ‘it’s a matter of association’, so we are particularly proud to be working with noted financial brands Citadel and Catalyst on this project. The development is on a great site, which we managed to secure through our relationship with Broll who under- stands the Cape market well.” Atterbury Asset Managers (AAM) will be responsible for the asset management on the Citadel head office building. Lucille Louw, Managing Director of AAM says: “AAM’s proven track record in success- fully managing multiple projects in South Africa as well as beyond our borders, will ensure that the Citadel building will become a prestigious asset in the Atterbury portfolio.” The old single-storey building that was on the site has been demol- ished to make way for a new modern development in an area of Cape Town that is noted for its capital and ‘old money’. Designed by architect Robert Silke, the new building includes stone, glass, marble and brass finishes that are aimed at creating a stately feel and fits well in the area. Silke comments: “The building is based on mid-20 th century ‘style-moderne’ architecture of cities like New York. It will be the first stone panel building in the area and is designed to stand-out, conveying the solidity and presence of an investment bank.” Van den Berg concludes: “Atterbury’s development will definitely have a positive impact on the value of neighbouring properties. It is very well designed to fit the nature and feel of Cavendish.”

> The strikingly-designed 6 500 m² building will be the head office of financial services group Citadel and is located in a prime location in Claremont, adjacent to Cavendish Shopping Centre. It will be jointly owned in equal shares by Atterbury, Citadel and Catalyst. Construction of the stone-façade building, which began in August last year, is on track and set to be complete in June 2016. “We’re back in the Western Cape in a big way,” says Gerrit van den Berg, Atterbury’s development manager for its Western Cape develop- ments. “This project for Citadel is our first new commercial property development in the Western Cape since 2010, and we have several other major new developments on the drawing board or being finalised.” The previous development and asset management projects that Atterbury led in the Western Cape include the refurbishment done at the Eikestad Mall in Stellenbosch, which was completed in 2013 as well as Bela Rosa Mixed used development in Durbanville, which was completed in 2010. The latter has since been sold and is now owned by Propergation. Atterbury has been involved in various commercial and retail projects in the Western Cape in the past, including the Tygerberg Office Park, Great Westerford refurbishment, Somerset Value Mart, Willow Bridge and Garden Route Mall in George amongst others. “There is no doubt, the Western Cape is back on our radar,” says James Ehlers, managing director of Atterbury Property Developments. “Other developments such as Mall of Africa, within the Waterfall City mega development in Gauteng, and projects in several other African countries and more recently Europe, have kept us busy in recent years. These will continue to be key projects for us, but so will be new devel- opment projects and opportunities in the Western Cape,” he adds. Atterbury’s new office development in Claremont is being funded by Investec. The majority of the space in the building will be taken up by Citadel, while Catalyst will take up the top floor.

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SUPERVISING MOZAMBIQUE BUILDING CONSTRUCTION

The building is located in the centre of Maputo, on an intersection between two of the capital’s busiest roads. It will comprise two towers and a three-level underground basement. One of the towers will be 20 storeys, dedicated to apart- ment blocks. The other will be 17 storeys and will be used as offices. Mott MacDonald PDNA will supervise the structural, civil, elec- trical, mechanical and geotechnical works. The team will comprise an architect, an engineer, a health and safety officer, an inspector of works and support staff based in Mozambique and South Africa. Pedro Chilengue, Mott MacDonald PDNA’s project director, said: “The development is part of an INSS investment strategy to create revenue for its pensions and social welfare activities. Our team of experts will make careful recommendations on how construction should be managed.” Construction is expected to complete in early 2017. > Mott MacDonald PDNA has been appointed by the Mozambique National Institute for Social Security (INSS) to supervise construction of a multi-functional building in Maputo.

CONSTRUCTION WORLD AUGUST 2015