The Sasol Pension Fund, in a 50:50 partnership with developers Alchemy Properties, will, this month, start construction on a ten-storey, 67 000 m2 office building at 2 Katherine street, in Sandton.
Once completed in the second half of 2016, it would be leased to energy giant Sasol, enabling the group to consolidate its current office space across Johannesburg into a single location and to realise significant building operating cost savings.
Sasol declined to release the value of the development.
Designed by Paragon Architects, the building would comprise ten floors of office space, incorporated onto a podium stand comprising integrated gardens and facilities, and would aim to achieve a five-star Green Building Council of South Africa Green Star rating in both the design and as-built categories.
Alchemy would be responsible for the building development.
The development would add to the Sasol Pension Fund’s significant portfolio of property assets, which included a number of blue-chip offices and shopping centres.