R80 million development in Durban
Category Newsletter
Nedbank Corporate Property Finance has provided funding of R80 million for the new development for Durban’s The Lion Match Company, for the development of their new corporate head office and distribution facilities in the Point Waterfront node.
Nedbank Corporate Property Finance has provided funding of R80 million for the new development for Durban’s The Lion Match Company, for the development of their new corporate head office and distribution facilities in the Point Waterfront node.
The property, comprising just over 10 000 square metres will be developed through the construction of a three storey mixed-use development which includes a distribution warehouse, a retail portion, corporate offices and covered parking.
Anand Joseph, regional executive Nedbank Corporate Property Finance in KwaZulu-Natal, says the Bank’s funding of this project is consistent with its commitment to providing agile commercial property finance solutions which allow clients to realise their property opportunities.
The new Lion Match property is located in the Point Waterfront area of the Durban CBD at the corner of Mahatma Ghandi and Signal Roads, and is accessible from all major network routes.
“This development is located close to the Durban port hub and is the latest addition to the area that will contribute significantly to the vision of the redevelopment of this node,” says Joseph.
According to Joseph, the Point Waterfront area is being transformed from an old established industrial area serving harbour-related industries, to an area which has now been redeveloped into modern mixed-use buildings.
“Investment into the area continues to grow, creating a modern mixed-use environment which, over time, will command the value that the Point Waterfront properties demand.”
The Lion Match Company is a well-established Durban-based business and has been home to some of South Africa’s favourite brands, from the iconic Lion Safety Matches, to its growing range of personal grooming products.
It has amassed an impressive family of brand names that have become segment contenders and leaders in their own right.
Gora Abdoola, chairman of Lion Match, says the Point Waterfront area is becoming a highly sought-after area for businesses in KwaZulu-Natal and they are pleased to have found a new home for the organisation in this growing area, which they believe will aid towards the domestic economic revival
Author: Property 24
