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finance: Nedbank Moves Into New Northern Suburbs Johannesburg Home


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Sited on the northern edge of Rivonia with almost direct access to the Western Bypass freeway, “The District” has already been recognised by property watchers as one of the more upmarket office complexes in Johannesburg’s northern suburbs, an area known for impressive office developments.

John Weaver, an Inframax Developments Director, said that Nedbank have signed a five year lease for 1 482m2 of space (inclusive of balconies) and 50 parking bays.

“Nedbank’s premises,” said Weaver, “add distinction to an already upmarket building.”

“The group’s corporate colour scheme,” he said, “complements the bold, contemporary look of the powerful, almost cubist, building.”

Weaver said that the Nedbank lease, together with that of Shell, will result in half of the available space at “The District” being taken up – at rentals above R100 per m2. Both, he said, are considered by Inframax as prestige clients and have set the tone for the leasing of the balance of the building.

The new building has been targeted at the corporate market, those looking for upmarket, high profile premises, but we are able to accept tenants needing as little as 250m2 and are currently in negotiations with two smaller possible tenants.

The attractions of the new building have been listed as:

- a noticeable profile, clearly visible from the Rivonia Road Extension and, as mentioned, fast access to the Western Bypass.

- an attractive design with A-grade finishes throughout, and

- a generator which will generate electricity whenever Eskom power is not available.

In an earlier statement Weaver pointed out that The District development had been carried out on the last significant plot still awaiting development at Sunninghill.

“These offices,” he said, “will in time be seen as some of the most desirable in Johannesburg, especially by those who recognise that the business hub of the city is now in Sandton/Rivonia, a precinct which has the big advantages - not only of being new and attractive, but also of cutting out much of the commuting, which today’s time-conscious staff increasingly see as irksome and wholly unproductive.

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