https://www.engineeringnews.co.za

Nedbank takes stake in R450m Alberton value centre

Artists impression of Newmarket Value Centre

Artists impression of Newmarket Value Centre

10th November 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

Banking group Nedbank’s corporate property finance division has entered into a partnership with Rejem Property Development and Moolman group company Style Star Investments for the development of the R450-million Newmarket Value Centre, in Alberton.

Nedbank’s corporate property finance division, acting through Linton Projects, and Rejem jointly owned 56% of the undivided shares of the project, with Style Star holding the remainder.

“Rejem and the Moolman group have strong reputations in property development, with sound knowledge and experience, and Nedbank corporate property finance is proud to partner with these trusted and successful developers once again,” Nedbank corporate property finance regional executive Ken Reynolds said.

Nedbank pointed out that, as part of the greater Newmarket Park mixed-use development, the 34 000 m2 value centre, which was expected to open in October 2015, would include tenants such as Builders Warehouse, Virgin Active, Food Lovers Market, Checkers, Spur, John Dory, Panarotti’s and Mugg & Bean.

“The development site is surrounded by well established residential areas and there is scope for major development in this node. The bank financed and holds an equity stake in the Makro that opened on the site in April last year, making the value centre our second development in the park so far,” Reynolds noted.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Magazine video image
Magazine round up | 29 March 2024
29th March 2024

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.143 0.203s - 150pq - 2rq
Subscribe Now