National property developer FWJK has secured land in Menlyn to develop a new R1.9 billion sectional title mixed-use building. Spanning 85 000m² and consisting of ground and first floor retail, the development will host a 450 learner creche, multi-tenant sectional title office suites, residential apartments and luxury penthouse suites.
Dubbed ‘Menlyn Link’, the development will be situated between the 177 000m² Menlyn Park Shopping Centre and the Menlyn Maine Central Square Precinct on Lois Avenue. Menlyn Link will assume the mantle of the tallest building in the greater Menlyn area at an impressive 26 storeys, changing the Menlyn skyline and offering 360 degree views of the surrounding vista.
“Menlyn Link offers a range of one, two, three and four bedroom apartments as well as five bedroom penthouses. The apartments are designed to be highly desirable with gas stoves, green technology, spacious living areas and entertainment balconies. With the convenient ground floor shops and restaurants providing a vibrant retail experience together with the rooftop club house, tennis court and swimming pool, residents will have various desirable amenities at hand to name a few. Those working in the P-Grade office suites will truly experience a first of its kind in Menlyn with a ‘work-play-live’ lifestyle” says Rhys Rocke, regional director of FWJK.
Hugo Moller, a Knight Frank property broker who specialises in the Pretoria region confirmed Rocke’s sentiments and added that the Menlyn Precinct is a notable attraction for residents as it is Africa’s first green city; being pedestrian and bicycle friendly. Moller went on to highlight the accessibility of Menlyn including the existing BRT routes, Gautrain bus routes and recently upgraded Atterbury and Garsfontein offramps which service the precinct.
“Recent years have seen the development of the Menlyn Times Square Casino, an 8 500 seater concert arena, a plethora of new restaurants and retail offerings and the unrelenting influx of corporates such as Nedbank, FNB, Liberty, Santam, King Price, Sage, BMW and the PIC evidencing Menlyn’s status as the destination of choice in Pretoria East.”
Rocke went on say that the development will be undertaken on the basis of the FWJK Co-Development at Cost Methodology giving investors the opportunity to partake in owning equity in the project at the brick and mortar cost which is roughly 30% below market prices.
FWJK expects to launch Menlyn Link to the market in early 2018 with confidence that it will sell out rapidly given high demand peaking in this area.