Nedbank Corporate Property Finance injects R1.35bn into Waterfall developments

Posted On Thursday, 21 May 2015 10:43 Published by
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Nedbank Property Finance has again shown its confidence in and support of proven developers by granting a total loan of R1.35 billion to Attacq Waterfall Investment Company (Pty) Ltd (AWIC) for three new developments in the Waterfall City Precinct in Midrand, Gauteng.


WaterfallCity PwC Aerial

AWIC, which is wholly owned by Attacq Limited, has commenced with the construction of the new head office for PriceWaterhouseCoopers (PwC), as well as offices and warehouse facilities for Hilti SA (Pty) Ltd and Stryker SA (Pty) Ltd. The PwC head office will comprise a total gross building area equating to about 115 000m², which include 40 000m² of offices over 26 storeys and 1822 basement parking bays on five levels.

The approximate 3 800m² (GLA) warehouse development for Hilti SA will boast offices on the ground and first floor, 1 700m² (GLA) 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 GLA of more than 3 000m².

According to D’Anvo Jones, Pretoria regional head for Nedbank Property Finance, the successful conclusion of this deal – one of many in which Nedbank has partnered with AWIC – demonstrates the high levels of confidence that participants in the South African property industry have in Nedbank Property Finance’s reputation as market leader.

“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.

AWIC has proven itself as an experienced and reputable developer of fine buildings, and the Waterfall precinct is one of the busiest and fastest growing nodes in South Africa,” says Jones. Anchored by the Mall of Africa, which is due for completion in April 2016, other developments within the precinct includes a 148-bed hotel and in excess of 50 000m² of offices. 

Exceptionally well located within Waterfall City, adjacent to the Mall of Africa, the prestigious and beautifully designed PwC head office is expected to become a landmark building in the area.

Both the Hilti and Stryker developments are prominently located, in a section to be known as the Waterfall Logistics Precinct. They are also in close proximity to the Mall of Africa, Cell C, Dis-Chem and the Massmart distribution centre and enjoy easy access to and from the N1 freeway via Allandale Road. 

All three of the properties are within easy access of amenities such as banks, medical facilities, parks and sports facilities, which are available within the precinct as well as in the surrounding suburbs. PwC provides industry-focused assurance, tax and advisory services to enhance value for their clients, employing 195 000 people in 157 countries across the globe.  

Hilti is a world-leading manufacturer and supplier of quality, innovative and specialised tools and fastening systems for construction professionals.  The company employs almost 20 000 employees in more than 120 countries around the world.

Stryker is a leader in the worldwide orthopaedic market and is one of the world’s largest medical device companies. Stryker products include joint replacements; trauma, spine and micro implant systems; orthobiologics; powered surgical instruments and surgical navigation systems.

“Aside from the significant value of this deal, we believe that the funding of the head office and warehouse facilities for leading international brands shows that multi-national companies have confidence in the South African market. We also believe that Nedbank, in its market leading position, is poised to partner with and capitalise on the continued growth of the South African property industry and economy as a whole,” concludes Jones.


Last modified on Monday, 12 October 2015 12:37

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