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Infrastructure & Mixed Use
N
edbank Corporate Property
Finance has approved funding
of R69,3 million for the devel-
opment of the 8 722m² first phase of
the Secunda Value Centre.
D’Anvo Jones, Regional Head: Ned-
bank Corporate Property Finance,
Pretoria, says that the value centre
will be anchored by a stand-alone
Builder’s Warehouse, a 2 300m²
Westpack Lifestyle Centre and a
drive-through free-standing Burger
King, supported by several line stores
and an assortment of home furnish-
ing retailers.
The developer has acquired neigh-
bouring land andwill be constructing
a further two phases, adding an ad-
ditional 12 868m² of retail and office
accommodation.
Offering ample open parking, the
centre is well located along a busy
arterial road within the Govan Mbeki
Municipality, P.D.P Kruger Road. The
property is within close proximity to
the Secunda CBD and is less than one
kilometre fromthe newSecundaMall.
Construction has commenced and is
expected to start trading bymid-year.
Jones says that the bank was
particularly attracted to funding this
development because of the quality
of the developer and the demand for
retail property in Secunda. Accord-
ing to the Govan Mbeki Integrated
Development Plan, Secunda is by far
the most active business zone in the
municipality, underlined by the fact
that 45%of the financial, administra-
tive and professional concerns are
situated there.
GovanMbeki Municipality is highly
urbanised, with 82% of the popula-
tion located in urban areas. In addi-
tion, the annual population growth
of 2.84% between 2001 and 2011
has been higher than the national
average of 1,4% (Source: Stats SA).
The location and population factors
bode well for the foot traffic into this
retail centre.
“The Neotrend Group is one of the
heavyweights in this particular sector
of the retail market andNedbank Cor-
porate Property Finance is proud to
partner with themonce again to bring
the Secunda Value Centre to market.
In addition, the long leases signed by
Burger King and Builders Warehouse
make for an attractive investment
and offer destination shopping to the
broader community.”
The Neotrend Group offers prop-
erty development, investment and
management services andhas over 30
years experience within the challeng-
ing property development industry.
Current projects include the Summit
Place mixed use development, the
10 000m² Lynnwood Lane Centre near
Equestria, the 12 000m² Silver Stream
Retail Centre near Silver Lakes, all in
Pretoria; and the Secunda Corridor
Retail Development.
This is the second retail develop-
ment supported by Nedbank Corpo-
rate Property Finance in the area,
following the finance provided and
equity stake taken in the develop-
ment of the 52 393m² Sasol Secunda
Mall in 2013.
“Nedbank Corporate Property
Finance is the market leader in the
commercial property finance industry
and we pride ourselves in providing
agile financial solutions that not
only realise our clients’ opportuni-
ties but also uplift and empower all
stakeholders and members of the
community,” concludes Jones.
■
Nedbank continues its commitment to the development of areas
outside South Africa’s major centres, this time in partnership with
Neotrend Khala Cose Developers, for the first phase of a new
value centre in Secunda, Mpumulanga.
Nedbank funds Secunda Value Centre
June 2015