Emira Property Fund is to redevelop Knightsbridge Manor office park in Bryanston, Johannesburg into a P-Grade complex with a minimum of 4-Star Green Star SA rating from the Green Building Council.
The development, which will now be known as Knightsbridge, will more than triple in size to over 29,000m2. Work started in December 2015 and the first of seven new buildings will be completed in May 2017.
Geoff Jennett, CEO of Emira Property Fund, said: “Our groundbreaking redevelopment of Knightsbridge supports Emira’s strategy of improving the quality of certain B-grade office stock. The new Knightsbridge is going to be a P-grade, resource-efficient and green rated office complex.”
As part of the project, the intersection of Sloane Street and William Nicol Drive will be upgraded. The development is likely to increase footfall at Emira’s nearby Epsom Downs Shopping Centre and Office Park.
Explaining the thinking behind the development, Jennet said: “While Emira initially considered an upgrade for the park, it quickly became clear its complete demolition and redevelopment would be a much better option to boost its value and performance.”
The new development will be characterised by quality, modernity and efficiency, with state of the art utilities backed up by standby generators and backup water supply and rainwater harvesting.
Jennett added: “This major investment in the redevelopment and expansion of Knightsbridge is an excellent example of how Emira is achieving growth by harnessing the potential in our standing portfolio of assets.”