Nedbank provides finance for iconic Menlyn Corporate Office Park

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Menlyn Corporate Office Park financed by Nedbank, Cnr of Corobay Road and Garsfontein Road, Pretoria Menlyn Corporate Office Park financed by Nedbank, Cnr of Corobay Road and Garsfontein Road, Pretoria

Stewart Property

Nedbank Corporate Property Finance provided R280 million in finance to well-known property developer Pieter Feenstra to fund the cost of developing the A-grade Menlyn Corporate Office Park.

“The iconic Menlyn Corporate Office Park project is a superior development based on locality, accessibility and architecture,” says Ken Reynolds, Nedbank Corporate Property Finance divisional executive for Gauteng.

“Located in the ‘New East’, currently the most desirable office node in Pretoria, and offering convenient access to both Menlyn Park Shopping Centre and Menlyn Retail Park, the office development has attracted quality tenants with long-term leases.

Nedbank Corporate Property Finance is pleased to be associated with such an outstanding development by an accomplished developer.”

The location of the property on Garsfontein Road not only offers convenient accessibility, but also ensures excellent visibility of the complex and exceptional branding opportunities for tenants.

Consisting of three free standing buildings with a total GLA of 23 234 m2, the development is already in the final stages and is almost fully let.

Existing high-profile tenants include Santam Ltd, the CTI Education Group, the South African Local Government Association (SALGA) and BVI Consulting Engineers.

The development was undertaken by Pieter Feenstra, a highly regarded property developer with more than 25 years experience in the property business and a property portfolio valued at R2 billion.

His impressive track record includes the development and management of numerous exceptional properties such as Weavind Park office complex, the DTI campus and the National Operations Centre for Telkom.

Previously head of Telkom Properties, where he was responsible for a portfolio valued in excess of R 8 billion and containing 6000 properties, Feenstra was also a member of the South African Property Owners Association (SAPOA) and served on two SAPOA committees with other senior members of the industry.

“Nedbank Corporate Property Finance’s hands-on approach to providing financial solutions that anticipate and fulfil the requirement for growth and expansion is again underscored by our role in the financing of the development of Menlyn Corporate Office Park.

We believe our ability to create flexible, tailor-made financial solutions allows developers, owners, occupiers and investors to transform development opportunities into great success stories.

This ensures that Nedbank Corporate Property Finance remains the financier of choice for widely respected property owners and developers such as Pieter Feenstra, and for successful developments such as the Menlyn Corporate Office Park,” concludes Reynolds.

 


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