Johannesburg - In one
of the largest letting deals in Cape Town in at least the past five years, Absa Bank has signed a 10-year lease to consolidate its 14 offices in the Western Cape to one centrally located regional office at Century City in Cape Town.
The lease is believed to have a capital value of about R400 million. It is for 14 000m2 of offices in the newly completed Bridge Park office development, which is located on a high visibility site in Century City’s new conference precinct that is destined to become the new commercial and hospitality hub of Century City.
The buildings were developed in a joint venture between Rabie Property Group and listed Growthpoint Properties at a cost of R450m.
The fit out of the buildings is due to start shortly with Absa personnel to be relocated to Bridge Park on a phased basis from the middle of March next year.
BUSINESS REPORT