Inanda Greens Business Park in Gauteng.

Nedbank Corporate Property Finance has funded the completion of phase two of the Inanda Greens Business Park in Wierda Valley, Sandton, on behalf of the Tiber Group.

The 30 216m² development comprises eight separate sectional title office blocks offering A-grade accommodation and a nine hole Mashie golf course. The 15 715 m² second phase is occupied by Credit Suisse, Bell Dewar and Investment Solutions.

Nedbank Corporate Property Finance also funded the construction of the first five buildings – phase one – of the commercial development, which was completed in 2008. Tenants of that phase include the French Trade Commission, Momentum Group, DM Kisch Inc, Advtech and C K Energy SA (Pty) Ltd.

Nedbank’s Ken Reynolds says this transaction is in line with the bank’s strategy to fund developments in the Sandton CBD, which has maintained its demand for A-Grade office space and has become the new financial node for Gauteng, South Africa and beyond.

“A key factor in the decision to fund the development was the reputation of the developer. Tiber has built a reputable name in the property industry. Its cautious and conservative attitude towards development has contributed to its success and funding this development was appealing because of its location and a relatively conservative loan to value,” says Reynolds.