City Lodge begins construction of lavish Waterfall City hotel

Posted On Friday, 11 October 2013 06:20 Published by
Rate this item
(0 votes)

JSE-listed City Lodge Hotels said on Tuesday the development of its 150-room City Lodge Waterfall City had begun, with the hotel scheduled to open toward the end of 2014.

Clifford RossThe hotel is situated at the entrance to property developer and investor Attacq’s mixed-use Waterfall City development between Johannesburg and Pretoria.

Atterbury Group’s Attacq, which is to list on Monday, plans to develop the Waterfall node during the next 10 to 15 years. Waterfall includes 1.73-million square metres of developable land, which will include the 116,000m² Mall of Africa and the Waterfall Business Estate.

City Lodge Waterfall City will be the second time the City Lodge group has partnered with Atterbury Property Developments, which is part of Attacq.

The groups previously partnered to develop City Lodge Lynnwood, which opened in 2010.

The hotel will also be City Lodge group’s 56th hotel, and will lift its overall room numbers to 6,905 across South Africa, Kenya and Botswana.

"The hotel is being developed as part of a long-term land and building lease agreement with a total development value of about R130m, R40m of which will be furniture, fittings and equipment, paid for by City Lodge," the group said.

City Lodge said the hotel, which would comprise a ground floor and four upper levels, "will ideally complement the City Lodge Hotel Group’s successful 118-room Town Lodge Midrand, situated less than 1km away within the Waterfall Park office complex".

City Lodge CE Clifford Ross said the hotel would be the group’s first new hotel in South Africa since 2010. "We believe there is a great future for Waterfall City, which will be an important new development node linking Midrand to the northern Johannesburg area," Mr Ross said.

City Lodge is also targeting further expansion opportunities in East, West and Southern Africa. The group also recently announced that it would be developing a 90-room Road Lodge in Pietermaritzburg.

South Africa has experienced limited hotel development activity since 2010 as it has been struggling through a period of oversupply following a number of developments ahead of soccer’s 2010 World Cup.

However, industry pundits believe opportunities are returning to the market, although new developments would have to be well calculated and within key nodes.

Source: BD

Last modified on Friday, 11 October 2013 06:31

Most Popular

SA REIT Association - Chairman's message and 2021 sector outlook

Feb 02, 2021
Estienne de Klerk_Chairman of SAREIT
Real estate has long been a rewarding sector of the financial markets. Like all sectors,…

It’s cheaper to buy than to rent a home in 2021

Feb 08, 2021
Carl_Coetzee_BetterBond_CEO
If the past year has taught us anything, it is how important our homes have become to us.

Thavhani City set for more growth in 2021 as its Motor City and medical developments accelerate

Feb 15, 2021
Thavhani_City_Locality_Layout
Thavhani City mixed-use urban precinct in Thohoyandou, designed to be the future economic…

Brand new residential development in La Lucia 60% sold through Pam Golding Properties

Feb 15, 2021
Kent_Exterior
Such is the consistent high demand for centrally located, well-priced residential…

Attacq successfully concludes two disposals

Feb 01, 2021
Attacq_CIO_ Peter de_Villiers
Attacq Limited, the JSE-listed REIT and owner and developer of the iconic Waterfall…

Please publish modules in offcanvas position.