Attacq gets R1.35bn Nedbank loan
THE Attacq Waterfall Investment Company (AWIC) has been granted a total loan of R1.35 billion by Nedbank Property Finance for three new developments in the Waterfall City precinct in Midrand.
AWIC, which is wholly owned by Attacq, has commenced with the construction of the new head office for PricewaterhouseCoopers (PwC), as well as offices and warehouse facilities for Hilti South Africa and Stryker South Africa in the precinct.
The PwC head office will comprise a total gross building area equating to about 116 000m which includes 40 000m2 of gross leasable area of offices over 25 storeys and 1 822 basement parking bays on five levels.
The 3 800m warehouse development for Hilti SA will boast offices on the ground and first floor, 1 700m of warehouse space with 60 open parking bays and 40 covered parking bays. The two rectangular double volume warehouses will also offer ablution and kitchen facilities.
The offices and warehouses for Stryker SA will feature a similar layout and facilities to the Hilti development, with a total gross lettable area of more than 3 000m
D’Anvo Jones, the Pretoria regional head for Nedbank Property Finance, said Nedbank Property Finance had again shown its confidence in and support of proven developers with the successful conclusion of this deal, one of many in which Nedbank had partnered with AWIC.
The offices and warehouses for Stryker SA will feature a similar layout and facilities to the Hilti development.
Confidence
Jones said it also demonstrated the high levels of confidence that participants in the South African property industry had in Nedbank Property Finance.
“In recent years, Nedbank and AWIC have developed a solid business relationship, one that is built on mutual trust and respect and an understanding of each other’s business models.
“The finalisation of this latest finance partnership will add another impressive project to the growing list of successful developments that have been completed, or are currently under construction, as a direct result of this highly effective working partnership,” he said.
Jones added that AWIC had proven itself as an experienced and reputable developer of fine buildings and the Waterfall precinct was one of the busiest and fastest growing nodes in South Africa. Anchored by the Mall of Africa, which is due for completion in April next year, other developments within the precinct include a 148-bed hotel and in excess of 50 000m of offices.
Jones said the prestigious and beautifully designed PwC head office was exceptionally well located within Waterfall City adjacent to the Mall of Africa and was expected to become a landmark building in the area.
Both the Hilti and Stryker developments were prominently located in a section to be known as the Waterfall Logistics Precinct and were in close proximity to the Mall of Africa, Cell C, Dis-Chem and the Massmart distribution centre and enjoyed easy access to and from the N1 freeway via the Allandale Road.