Zenprop gets R151m loan from Nedbank - Commercial, News

Nedbank Corporate Property Finance has approved a loan of R151 million for the expansion of Brandhouse warehouse facilities in Germiston.

In total, the extensions will increase the Brandhouse facilities in Elandsfontein, Germiston by over 24,000 square metres ? the required increase in space resulting from the company?s success and expansion in the South African market.

The loan, which was granted to the Zenprop Group, will fund the development of Brandhouse II, which comprises additional warehouse space for this leading South African premium alcohol beverage company, as well as over 700 square metres of offices and additional hardstand and parking capacity.

In total, the extensions will increase the Brandhouse facilities in Elandsfontein, Germiston by over 24?000 square metres ? the required increase in space resulting from the company?s success and expansion in the South African market.

Brandhouse (Pty) Ltd is one of the leading premium alcohol beverage companies in South Africa offering consumers an unrivalled portfolio of spirits, beer and ready-to-drink (RTD) brands.

The company has been operating in the South African market since July 2004.

In South Africa, Brandhouse operates in four mega-regions, each headed up by a general manager.

These regions are: Western Cape and Port Elizabeth, KwaZulu-Natal and East London, Inland (North) and Inland (South).

Brandhouse currently employs more than 900 permanent employees in South Africa, and is present in all major metropolitan areas as well as many smaller regional centres.

According to Ken Reynolds, regional executive for Nedbank Corporate Property Finance in Gauteng, the decision to grant the loan was not a difficult one to make given the outstanding reputation of the Zenprop Group and the long-standing relationship it has with the bank.

?In addition to the extensive experience of the Zenprop management team, the excellent location of the warehouse development, and a strong, well-established tenant to support the lease,?

Reynolds explains that the group and its various subsidiaries have partnered with Nedbank Corporate Property Finance on numerous successful developments in the past, including similar warehouse facilities and office buildings in Riverhorse Valley and Woodmead Office Park.

Reynolds points out that the latest loan facility reflects Nedbank Corporate Property Finance?s commitment to understanding its clients? business models and industries while partnering with them in the long-term to offer innovative finance options designed to help ensure their sustainable success and growth.

It?s a philosophy that he says lies at the heart of Nedbank Corporate Property Finance?s own success and has played a key role in its achievement of a significant share of the commercial and industrial property finance market across all regions in South Africa.

?The Nedbank Corporate Property Finance strategy has always been absolutely client centric, so we obviously pay due cognisance to the risks and potential of the developments we finance.?

He says a key factor is always the assessment of the people behind the development, which is why they have managed to develop such exceptional partnerships with solid South African property groups like Zenprop, whose values and business practices so closely mirror the bank.

Reynolds points to these strong client partnerships as key to the sustained growth of the Nedbank Corporate Property Finance business during times of economic difficulty.

?By combining this client commitment with an in-depth understanding of the markets in which we operate, Nedbank has achieved a level of robustness and reliability that large, high profile clients like Zenprop really appreciate.?

He adds that this allows the bank to continue to strengthen its relationships with vital commercial and industrial property market stakeholders, not just for the benefit of their businesses, but for the future of the South African property industry as a whole.

Source: http://www.property24.com/articles/zenprop-gets-r151m-loan-from-nedbank/16450

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