Investec Private Banking backs Nicolway Bryanston
Category Property News
In a landmark transaction Investec Private Banking has provided funding to The Rodrigues Group to develop the chic new R500 million Nicolway Bryanston Shopping Centre, which opens on April 26.
The 23,000 square metre Nicolway Bryanston centre will feature a unique tenant mix of some 90 shops.
"We are confident Nicolway Bryanston ticks all the right boxes for a commercially and financially viable scheme. Our team partners with high net worth clients with a good track record in property development. Projects like Nicolway Bryanston Shopping Centres assist in building a book of quality assets," said Richard Towell of Investec Private Banking Property Finance on Tuesday.
He added that the support of quality tenants for Nicolway Bryanston had significantly influenced their decision to fund the development.
The retailer line-up at Nicolway Bryanston is led by an extraordinary foundation of national food retailers, including a 3,200 square metre new Woolworths Supermarket concept store, a 3,400 square metre Checkers and a 2,500 square metre Food Lovers Market.
"Pre-letting the shopping centre to a high percentage of anchor and national tenants is a critical factor. The mix of restaurants and line shops however are also important in ensuring a balanced service offering to the community," said Towell.
The Rodrigues Group appointed Flanagan & Gerard to lease this unique shopping centre.
"Nicolway Bryanston is developed and tenanted to deliver conveniently stylish shopping. The powerful mix of anchor tenants and hand-picked unique retailers delivers all the ingredients for good living to the discerning shopper," said Patrick Flanagan of Flanagan & Gerard.
As a defining factor for its retail success, Towell pointed out that Nicolway Bryanston is ideally situated off William Nicol Drive with prime exposure to dense and regular traffic.
"It is positioned to serve households east and west of the development, as well as major offices in the area. It is a large residential and commercial node, mainly serviced by retail outside the area," noted Towell.
Author: INet Bridge
