Development: 335 Place, North Dzorwulu, Airport Area, Accra – Ghana – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel

Development: 335 Place, North Dzorwulu, Airport Area, Accra – Ghana

335 Place, North Dzorwulu, Airport Area, Accra - Ghana. Image source: estateintel.com

  • Name: 335 Place;
  • Location/Address: North Dzorwulu, Airport Area Accra Ghana;
  • Size: 11,047m²;
  • Floor Plate Size: 1,250m²;
  • Use: Office;
  • Floors: 14;
  • Developer: Momentum Africa Real Estate Fund (MAREF) and 335 Place Limited (Local Partner)
  • Project Duration: Jun 2016 – Jan 2018;
  • Cost: $45 million;
  • Development Managers: Eris Property Group;
  • Project Managers: GHC Africa;
  • Architects: Boogertman & Partners, Local Partner – MultiCad;
  • Mechanical and Electrical Engineers: CKR;
  • Structural Engineers: HBS Africa;
  • Quantity Surveyors: Pentad;
  • Parking Bays: 404 Bays, 4 per 100m².

335 Place is a new office development located in North Dzorwulu within the Airport Area of Accra, Ghana. It is one of two flagship office projects in Ghana by the Momentum Africa Real Estate Fund which Eris Property Group is acting as the Development Manager for. As most institutional real estate investors in SSA typically approach their investments, the developers partnered with a local firm, 335 Place Limited.

Designed by Boogertman & Partners and MultiCad, the 14-floor development will offer 11,047m² of leasable office space with 404 parking bays and cost $45 million to complete. Construction will commence in June 2016 and completion is expected in Q1 2018, however it is already 65% pre-let to 4 large corporate tenants in the energy and telecommunications sectors.

The site for the project is on the N1/Accra-Tema Motorway/George W Bush Highway and is in close proximity with Kotoka International Airport, Accra Mall and Fiesta Royale Hotel. The Ghana National Petroleum Corporation and Tullow Oil that are located in the neighbourhood also mean the region is often regarded as the oil and gas hub of Accra.

In the Airport City close by, other investors such as Actis, RMB Westport and state owned SSNIT have developed their trophy assets, namely One Airport Square, Stanbic Heights and the SSNIT Emporium respectively. Average rents for Grade A buildings in Accra typically range between $35-$40/m²/month, however this is trending lower as the economic environment becomes tougher.

The developers are promising great views of Accra City and a modern Grade A+ finish with sustainable features. 

335 Place, North Dzorwulu, Airport Area, Accra - Ghana. Image source: estateintel.com

335 Place, North Dzorwulu, Airport Area, Accra – Ghana. Image source: estateintel.com

335 Place, North Dzorwulu, Airport Area, Accra - Ghana. Image source: estateintel.com

335 Place, North Dzorwulu, Airport Area, Accra – Ghana. Image source: estateintel.com

335 Place, North Dzorwulu, Airport Area, Accra - Ghana. Image source: estateintel.com

335 Place, North Dzorwulu, Airport Area, Accra – Ghana. Image source: estateintel.com

335 Place, North Dzorwulu, Airport Area, Accra - Ghana. Image source: estateintel.com

335 Place, North Dzorwulu, Airport Area, Accra – Ghana. Image source: estateintel.com

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