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18 September 2007
Abacus Divisions invests in R23 million business office at Route 21 Property development company, Abacus Divisions formed in 2004 is to develop a third set of offices at executive office Park, Route 21 Corporate Park in Irene, taking its total investment in the office park to R52 million. According to Org Geldenhuys, a director of Abacus Divisions, the office building includes 2 400 square metres of A grade office space, with rights to operate a restaurant, coffee shop and related food outlet. Total building costs are expected to be R23 million. Geldenhuys is to relinquish his day-to-day duties as a director of well-know IT recruitment company, Abacus Recruitment. Abacus Recruitment co-founder, Karen Geldenhuys, will be assuming the post of managing director at the company. Commenting further, Geldenhuys said the new development will take another eight 12 months to complete. There is still a commercial property boom going on and Abacus Divisions is taking advantage of this. The current boom should last another two years. Our other office buildings of 2 800 square metres, also situated in Route 21 Corporate Park, are now fully let, said Geldenhuys. The current stand under development is on the highest area in the park and boasts excellent vistas over the office park, Cornwall Hill as well as enjoying panoramic views over the surrounding landscape. The first phase of Route 21 Corporate Park is now 90% developed and includes mostly A grade office developments with very stylishly built office buildings. There are also small components of neat industrial and warehousing developed in the office park. Abacus Divisions is also considering other property developments outside of Route 21 Corporate Park. |