Krisp pumps over R500m into office park expansionComment on this story
Krisp Properties, which is part of the Nu-Hold Group, is investing more than R500 million in expanding its flagship Clearwater Office Park development with the aim of complementing the OR Tambo Aerotropolis.
The office park adjacent to the planned site of the OR Tambo Aerotropolis along Atlas Road in Ekurhuleni has already attracted major South African and global firms, including the Michelin Africa headquarters, Discovery Health, Barloworld, Old Mutual, Absa and Imperial Air Cargo.
But Jordan Mann, the executive director at Krisp, said demand was so great that the office park was having to more than double in size, expanding the existing office park from 17 000m2 of gross lettable area to almost 45 000m2 over the next five years.
Mann said the company had added an average of 4 500m2 of commercial space a year at the office park and when complete, there would be seven AAA-grade unique office park precincts.
He said the company was leading the charge in developing a new business node along Atlas Road.
“Our unique location enables us to position ourselves as a conduit for and to complement business within the aerotropolis development.
“We see ourselves as the forerunners of what is happening here at the OR Tambo Aerotropolis. It is a modern office park which has high traffic volumes along Atlas Road and high visibility,” he said.
Mann said the office park was 90 percent and the adjoining Clearwater Lifestyle Estate offered facilities such as tennis and squash courts, a gym, spa and a restaurant, all of which were available to the commercial tenants.
Krisp Properties has several successful developments completed and under way around South Africa, including a planned 5 200m2 shopping centre in Langa in Cape Town, the Olifantsfontein industrial development in Johannesburg and the Olievenhoutbos residential development, which included a 9 000m2 neighbourhood shopping centre, also in Johannesburg. It previously developed the Randburg Office Park, Ebony Park Shopping Centre in Midrand and Sandton Office Park.
Mann said it was also in the advanced planning stages of developing a R6 billion “city within a city” holistic lifestyle and low-cost housing estate with 38 000 housing units on a 3 200 hectare estate on the outskirts of Nelson Mandela Bay.
The plans included provision for a university, clinics, hospitals, an office park, light industrial space and shopping centres, he said.