New hotel in Sandton on course for completion by 2014

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177 Empire Place, the first hotel to be built in Sandton in the last four years, will be fully operational by the first quarter of 2014. 177 Empire Place, the first hotel to be built in Sandton in the last four years, will be fully operational by the first quarter of 2014.

177 Empire Place, the first hotel to be built in Sandton in the last four years, will be fully operational by the first quarter of 2014.

Being developed by Executive Apartments and Hotels (EAH) and managed by property development company Construct Capital, 177 Empire Place is a 132 room apartment hotel that can be run as a traditional hotel, as long-term rentals or units that can be sectionalised and sold as stand-alone apartments or investment rental stock.

Construct Capital founder Clifford Kupritz said the allure of 177 Empire Place was that it offered such a diverse service. “Would you rather stay in a cramped 28m² hotel room while travelling or in a fully serviced apartment, where you can sit comfortably and work? It will be more affordable than a hotel. The key is that there’s a concierge as well as additional facilities available.”

Executive Apartments and Hotels founder Marc Wachsberger said on Friday that 177 Empire Place, which opens in the first quarter of next year, caters for companies that have had to tighten costs but also seek hotel offerings that go beyond just living space.

Sandton’s hotel offering is booming, with vacancies at their lowest since before the 2008 recession, according to Mr Wachsberger.

“Hotels in Sandton are hitting highs. We have not been this optimistic about the area before and this is an excellent time to open the first hotel built from scratch in this business hub,” he said.

“We are offering clients hotel rooms but also conferencing and apartments at competitive rates,” he said.

The hotel, apartment and conferencing complex will be managed by property development and finance specialists Construct Capital. It will have 132 rooms and can be run as a traditional hotel, and offer long-term rentals or units that can be sectionalised and sold as stand-alone apartments or investment rental stock.

The property has been designed in such a way that every room has direct access from the corridor, but can also be configured into two or three bedroom suites, offering services to business travellers who simply require one room, or are looking for a bigger suite with a lounge, kitchen and other facilities.

The development of the hotel came as a result of an increased demand for alternative accommodation for business travellers, particularly in the Sandton area.

“The current state of the economy demands that expenditure be closely monitored, and as such more businesses are carefully watching their travel expenses,” Mr Wachsberger said.

He said executive apartments were proving to be an affordable alternative for business travellers, and companies had increasingly turned to this option, which they often preferred for convenience, privacy and comfort, as opposed footing pricey hotel bills.

Liberty Properties retail and leasing director Mel Urdang said last week that hotels were doing well.

“The hotel space is doing really well in SA and it is being served by a good retail offering in Sandton,” Mr Urdang said.


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