Ever wonder what’s happened to the Pavilion at the V&A Waterfront and how that space is being transformed? Well, it was purchased by Zenprop, one of the largest property investment and development companies in South Africa, 3 years ago, and is being completely redeveloped both internally and externally. Ideally positioned in the Waterfront, it will be available for corporate tenants from Sept 2015 with approximately 4000sqm over two floors.
Zenprop, founded in 1998, has experience in developing and investing in property internationally. Their investments in Cape Town have increased dramatically over the last 5 years and they plan to continue investing in the region as the Western Cape economy is outperforming the rest of South Africa. Zenprop is seeing steady growth in the metro areas of South Africa with interest from a few international companies such as Oxford University Press who are establishing a warehouse and logistics centre in Epping, and offices for Capita – the largest outsourcing and call centre management company globally. Theodore Yach, Divisional Director at Zenprop says: ‘While it is encouraging that some international companies are seeing the Cape Town city region as an investment destination, the region could benefit from having a a single co-ordinated messaged when marketed internationally’.
Some of Zenprop’s other main projects in the Cape Town region include:
- The Union Castle Building redevelopment in St Georges Mall for Capita
- Zewenwacht Shopping Centre in Kuilsriver which is currently being expanded to approximately 40,000sqm serving a growing residential market
- Kuilsriver Industrial Park which is home to Triton, IDL (in construction), Barlowworld (about to commence construction), and others
- Epping 1 which is home to Ferobrake, Glaxo Smith Kline and Oxford University Press (under construction).
- Brackenfell Hyper which now includes a totally redeveloped Pick and Pay, a Foodlovers market, Virgin Active Red , Cattle Baron and other retailers.
Zenprop is a member of Accelerate Cape Town. Theodore says : ‘Our membership of Accelerate Cape Town is driven by our understanding that corporates are the primary economic drivers in the region and we hope to make our contribution by assisting to attract more Corporates into greater Cape Town.’
If you want to find out more about the Pavillion and other Zenprop projects, please contact Theodore Yach at theodore@zenprop.co.za
