Leading corporate law advisers Edward Nathan & Friedland have signed a 12 year lease for 7 397m² of space, negotiated by Debbie Echstein of JHI Real Estate, for premises situated on the corner of Maude and West Streets in central Sandton.

According to Coenraad Jonker, chief executive officer of Edward Nathan, the timing is opportune, as they have secured significantly superior space that lends itself to small, standardized cellular offices, and future expansion, without increasing their rentals. “We will also have greater visibility and naming rights.”

Edge Properties, the owners and developers of the 11 224m² building will be doing a R120 million refurbishment, which is due for completion on 1 July 2004. Andrew Cairns, director of Edge, commented that only the concrete structure of the existing building is to be used, internally and externally the building will be stripped. Nedbank Corporate is funding the project and work commences after the sod-turning ceremony on 2 July 2003.

“Numerous alternatives were examined before the final decision was made and the transaction concluded,” says Les Weil, executive chairman of JHI Real Estate. “JHI has been a client of Edward Nathan for over 70 years and has been responsible for assisting them on a number of occasions in finding office space, such as their occupation of Innes Chambers in 1963.” He added that the transaction is beneficial to both landlord and tenant.

Ends

Issued by:

Rosemary Roberts

JHI Real Estate Ltd

Tel: (011) 441-0339    Fax no.: (011) 441-0172

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