#BOE Regional HQ - 7F - Ridgeside, Umhlanga

[dysan1]

Sorry for the poor quality of the images, they are photos of the plans are none are currently available online

View from behind



View from Umhlanga rocks drive heading up to the ridge




Name: BOE regional HQ
Location: Ridgeside Umhlanga, Durban
Use: Commercial office - 6500m2
Floors: 7F
Developer: Zenprop
Architect: DHK

Nedbank ploughs money into big Umhlanga property development
20 January 2010

Bank part funds transformation of hotel into new leisure, commercial development.

Nedbank Corporate Property Finance has part funded a new leisure and commercial development on Umhlanga Ridge, Durban on behalf of Zenprop Property Holdings.

Zenprop is currently developing a Holiday Inn Express and prime grade offices to be occupied by BoE, with the balance of the land remaining vacant for future development.

Construction of the hotel and the offices has already commenced, and the developments are due for completion by April and October 2010 respectively.

The hotel is a 240 roomed 3-star "Holiday Inn Express", being developed in conjunction with ISO Leisure Property Holdings (Pty) Ltd (ISO Leisure), who will be co-owners of the hotel development.

The operating company for the hotel is a wholly owned entity of ISO Leisure Holdings, which is a newly formed entity to house the roll out of the Holiday Inn Express hotels across the country.

The office development comprises a three storey office complex with a total gross lettable area (GLA) of 6,420.50m². The development is split into two blocks, with each floor being joined by a covered link and parking provided at basement levels. BoE, a division of Nedbank Retail, will occupy 73% of the GLA in this development.

Key decisions in funding the development include: the excellent location of the property; the strong demand within the Umhlanga area for hotel space, as well as advantageous comparative average room rates and strong potential for high occupancies; the long-term relationship with the developer stretching over nearly 13 years, and cemented by strength of the developer and their sound property management experience.

Brian Roberts, Divisional Executive of Nedbank Corporate Property Finance said, "These are exceptional developments given that they are situated in what can be described as one of best remaining pieces of real estate on the KwaZulu Natal coast, with good macro and micro access and panoramic elevated sea views. As this is the best remaining parcel of sea facing land in Kwazulu Natal, any developments here will escalate in value over the medium to long term."

The property is very well located within an area known as the "Umhlanga Triangle". The site, being on the eastern side of Umhlanga Rocks Drive, enjoys exceptional sea views. It has frontage onto Umhlanga Rocks Drive, Ncondo Place and Ntusi Road, with the access being off Umhlanga Rocks Drive and Ntusi Road. The node forms part of the greater La Lucia Office Estate and Umhlanga Newtown Precinct, which is home to premier gated office parks, the Gateway Theatre of Shopping and the adjacent Newtown mixed use node.

A number of new developments are underway or in the planning stage, which include the two properties above and new office premises for Investec, Vodacom, BDO, Shepstone Wylie and Cox Yeats.

Zenprop Property Holdings (Pty) Ltd is a South African-based privately-held property investment, development and management company, which was founded in 1998. It has in-house expertise covering all facets of the real-estate industry, and employs a staff of 95 in its various business units in Johannesburg, Cape Town and Durban. Since inception, Zenprop Property Holdings (Pty) Ltd has grown into one of South Africa's premier property development and investment companies. The portfolio is spread across the retail, commercial and industrial property sectors in the major centres in South Africa.

ISO Leisure Holdings was formed between Amabubesi and the Phelps Consortium. The Executive Directors of ISO Leisure are Steve Phelps and Sango Ntsaluba. Both Phelps and Ntsaluba are Chartered Accounts and have extensive experience in the commercial sector.

Gavin Watson is the Managing Director of ISO Leisure and brings the skill and experience of hotel management and operations and development to the team. He was instrumental in the consortium which brought Radisson to South Africa, as well as being involved with the Bay Hotel and The President in Sea Point. He is also involved with a number of hotel developments in African countries along the West Coast. Recently he has developed a 175 room Holiday Inn Express in Cape Town City Centre, a 155 room Holiday Inn Express in Woodmead, Johannesburg and a 305 room Holiday Inn Express in Sunny Park, Pretoria. Currently still under construction is a 235 room Holiday Inn Express in Umhlanga, Durban and a 158 Holiday Inn in Rosebank Johannesburg.


http://www.realestateweb.co.za/reale...4402&sn=Detail

[Durbsboi]

Jeez, this one is a stunner, Im glad the design code for the Ridge is more modern & smooth unlike the UNTC which I feel is abit over done in some of the developments.

[romanSA]

Very nice. Me likes.

[dysan1]

this one is rising quickly and is up to level 3. the views from here will be stunning - pano of the coastline

[4ph3X]

[Lydon]

Welcome Thanks for the renders!

[romanSA]

Nice renders! Thanks! And welcome to the boards.

PS - Is BOE part of Nebank?

[Durbsboi]

I think so... & thanks for the new renders, looks great! welcome to the boards 4ph3X

[dysan1]

thanks for the clearer renders...this one is motoring on

[SA BOY]

Originally Posted by romanSA

Nice renders! Thanks! And welcome to the boards.

PS - Is BOE part of Nebank?

yes, im with BOE and nedbank private bank and both in same buiding in the waterfront

[dysan1]

Taking good shape on the skyline now

[romanSA]

This is such a great location. Until recently, I hadn't been to Umhlanga for months and was astounded at how fast this one had gone up.

[dysan1]

yup and the one next to it is also rising fast now.

[dysan1]

[dysan1]

As seen from Ridgeside

[dysan1]

All from www.grantpitcher.co.za

[gp_photo]

Thanks #dysan1 for including these pictures from grantpitcher.co.za

The other end of this strip has the very upmarket Holiday Inn Express, shown below:

[dysan1]

Thanks for taking some fantastic photos of our fine city!

[dysan1]

[ingenting]

Nice shot, can you tell me what the work behind/in front of the building is about? Parking spaces or something more exciting?