FINANCE: Nedbank Funds Griffin Development Business Estate
Recent Gauteng Business News
Nedbank Corporate Property Finance: Gauteng has funded the development of a R54 million showroom and warehousing centre in Longmeadow Business Estate on behalf of Griffin Developments.
The development, occupied by Kevro (Pty) Ltd, comprises 2 300m² of A grade office and showroom space split over three levels, and 8 500m² of warehouse space.
The 11m high, sprinkler protected warehouse includes back up pumps and tanks. Efficient yard planning, good perimeter security, integrated building signage and the generous use of indigenous landscaping complete this prestigious development.
Kevro is the largest corporate clothing and promotional gifting wholesaler in Africa with a 20 year track record, and is situated at the purpose-built facility in Longmeadow with branches in Pretoria, Cape Town, Durban and Port Elizabeth. Kevro is a trade only supplier, wholesaling to promotional companies, independent retailers and advertising and event companies who in turn supply the corporate market. It is the exclusive supplier of Barron Clothing and Gifts in South Africa.
Ken Reynolds, divisional executive of the Gauteng division of Nedbank Corporate Property Finance said that Nedbank elected to get involved in this development due to the calibre of Griffin Developments. “Nedbank is proud to be associated with this project in conjunction with Griffin, their contractors and professional team, who all contributed to the success of the development. The team was able to complete construction within 10 months, despite severe weather and site drainage conditions, which is to be commended.”
The property is located in the very popular Longmeadow Business Estate in Modderfontein. Situated along the N3 freeway and enjoying direct exposure to the N3 highway, Longmeadow is centrally located between Sandton, Midrand, Johannesburg CBD and OR Tambo International Airport. The estate has its own off-ramp from the N3 motorway leading directly into it, ensuring easy access at all times. The estate is fully secured with palisade and electric fencing and security guards 24 hours per day.
Griffin owns approximately 300 000m² of zoned, proclaimed and serviced industrial and commercial land strategically located throughout Gauteng and Kwazulu-Natal. The company has successfully developed over 120 000m² GLA over the last 3 years and has a proven track record. Through its various subsidiaries Griffin develops property, on demand, for the group’s own portfolio and for the rental market. The company is supported by a development team incorporating investment, financial, architectural, project management and construction expertise that has produced numerous prestige projects as a result of a collective 70 years of experience.
Business News Sector Tags: Finance| Property| Business|