The Lion Match Company, which produces the iconic Lion Safety Matches, has increased its commercial office investment in Durban’s Point Waterfront node with R80 million loan package granted by Nedbank Corporate Property Finance.
The property, comprising just over 10 000m², will be developed through the construction of a three storey mixed use development which includes a distribution warehouse, a retail portion, corporate offices and covered parking.
Anand Joseph, Regional Executive Nedbank Corporate Property Finance (NCPF) in KwaZulu Natal, says the bank’s funding of this project is consistent with its commitment to providing agile commercial property finance solutions to which allow clients to realise their property opportunities.
The new Lion Match property is located in the Point Waterfront area of the Durban’s CBD at the corner of Mahatma Ghandi and Signal Roads, and is accessible from all major network routes. “This development is located close to the Durban port hub and is the latest addition to the area that will contribute significantly to the vision of the redevelopment of this node,” says Joseph.
According to Joseph, the Point Waterfront area is being transformed from an old established industrial area serving harbor-related industries, to an area which has now been redeveloped into modern mixed-use buildings. “Investment into the area continues to grow, creating a modern mixed-use environment which, over time, will command the value that the Point Waterfront properties demand.
The Lion Match Company is a well-established Durban-based business and has been home to some of South Africa’s favourite brands, from the iconic Lion Safety Matches, to its growing range of personal grooming products. The company has amassed an impressive family of brand names that have become segment contenders and leaders in their own right.
Gora Abdoola, Chairman of Lion Match commented, “The Point Waterfront area is becoming a highly sought after area for businesses in KwaZulu Natal and we are pleased to have found a new home for the organization in this growing area which we believe will aid towards the domestic economic revival.”