Absa tenancy confirms Moffett’s rise

Cindy Preller

BUSINESS in William Moffett Expressway is booming with Absa being the latest company to move its offices to the commercial node of the city.

Absa confirmed this week that the bank’s regional office will occupy the top floor of the new Moffett Office Park, at the corner of Overbaakens Road and the Expressway.

As anchor tenant, Absa staff members will occupy the entire 3300m² top floor of the three-floor building.

Regional executive for Absa Eastern and Southern Cape Tshiwela Mhlantla said Absa had a series of lease events (rental lease contracts which are up for review in 2013) that had afforded them the opportunity to consolidate regional multi-sited operations and to house them under one roof.

“After extensive market research and a study conducted, Absa will be moving to the William Moffett Office Park. This new workplace will enable enhanced business synergies and optimise Absa’s operations, creating a presence in the province which will enable us to better engage with our customers,” Mhlantla said.

Alan Orchard, of developers Applemint Properties 41 (Pty) Ltd, said the move to the office park by one of South Africa’s top five banks further confirmed the William Mofffett area as the fastest developing commercial node in the region.

Two of the biggest dealerships in the city, Tavcor Volkswagen and Eastern Cape Motors, moved their businesses to the Expressway last year.

Moffett Office Park, which includes a basement parking area, is located close to three major shopping centres and the airport, and also forms part of the gateway to the expanding western suburbs.

Orchard expects the tenancy profile of the office park to comprise corporate companies who are seeking to relocate their head or regional offices, and professional operations associated with the finance industry.

Property company Mike Shefer Estates has been appointed to manage the building. According to Shefer there has been a lot of interest from other companies wanting to become tenants, but some office space is still available.

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