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Aug 29, 2007:
A local consultant recently concluded the lease of prime AAA grade office accommodation in Granger Court, Granger Bay, at Cape Town's V&A Waterfront, on behalf of Close Brothers, the UK's largest independent merchant bank.
The capital value of the lease is R3,27m and the property leased incorporates 514sq m of office space plus parking.
"Trading in Cape Town as Close Fund Services (South Africa) (Pty) Limited, this is the group's first office to be launched in South Africa and the investment is a vote of confidence not only in the country but also in the Mother City," says Graham Freeling, leasing and sales consultant for Pam Golding Commercial who concluded the deal.
Freeling says office accommodation in the V&A Waterfront remains highly sought after as it offers sound value, good security and a convenient location with easy access to the city centre and N1 and N2 main routes.
"We specifically chose Cape Town because it is already a well established location for fund administration and therefore offers us access to a large pool of skilled employees with relevant experience. South Africa has a well run economy, sound infrastructure, similar time zone and is competitively priced," says Colin Keogh, CEO of Close Brothers Group plc, said.
