Iconic South African banking building getting sold

 ·30 May 2024

The Competition Commission has approved, without conditions, Nedbank’s sale of its prime Menlyn Maine property to Zikhethele Trade 4.

Zikhethele is controlled by Renlia Developments, Bridoon Trade and Invest 7, and Proclare, which is owned by Nedbank.

Zikhethele is a property development, management, and investment company whose primary activity is holding the property being purchased.

Renlia is a property investment company that focuses on acquisitions and development. Bridoon and Proclare are investment holding companies.

The property sold is Nedbank’s greenstar-rated building opposite Time Square in the Menlyn Maine Precinct.

It is a mixed-use property that opened in July 2012 and is located at 193 Bancor Avenue, Waterkloof Glen, Pretoria.

The building, which boasts a commercial office area of 16,244 square meters, achieved Green Star design (4-star), As-built (5-star), and Green Building Council of South Africa (5-star) ratings.

It was designed and constructed with a focus on sustainability, densification, energy, and water efficiency.

The building features energy-efficient lighting, flow restrictors, water-efficient toilets, and granular metering to monitor and manage water and energy consumption.

It uses rainwater and groundwater harvesting for toilet flushing via a separate reticulation system.

The building has a vertical garden, which is supplied by water captured on the roof and from the ground of the building.

It further features thermal storage tanks filled with 36,000 cubic meters of Christopia nogels, a chemical liquid that can freeze at any temperature.

At night, between 21:00 and 06:00, the chillers pump cold water into the thermal storage system, where the coolth is retained by the Christopia nogels.

This effectively reduces the peak energy requirement of the building by 50% and reduces the pressure on the national electricity grid.

A solar PV plant located on our roof provides the building with around 360,000 kWh of electrical energy per year.

It has an indoor air quality manager who manages the indoor environment. Regular air quality assessments are conducted to maintain a healthy and productive environment.

The building also has a green cleaning policy and a green transport plan, including a staff car-pooling initiative and shower facilities for cyclists.

The building features premium facilities such as large open foyers that lead into a coffee shop and an auditorium with a capacity of over 100 people.

It has high-end glass finishes wrapped around its 5-story facade, 24-hour state-of-the-art security, and access-controlled lobbies.

It has a backup generator, business-class fibre connectivity, and ample visitor and tenant parking bays.

The building is easily accessible from the N1 highway via the Garstfontein and Atterbury intersection.

Nedbank’s prime Menlyn Maine property at 193 Bancor Avenue

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