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Nedbank to offload property to consolidate and improve overall operational efficiencies

Nedbank to offload property to consolidate and improve overall operational efficiencies

Two Nedbank-owned commercial properties in Windhoek, were put on the market earlier this week. The two buildings are the Nedbank Business Centre in Ausspannplatz and the Nedbank Head Office in the Central Business District.

Nedbank Namibia’s Head: Marketing and Communications, Gernot de Klerk told the Economist that since Nedbank Namibia has a staff complement of around 750 people, of which well over 70% are based in Windhoek, there was clearly a need to consolidate various office sites across the city into one shared, multi-functional building to give effect to improving overall operational efficiencies.

“These plans are at the budding phase and are being explored as we speak. When our consolidation plans come to fruition, it will certainly represent a significant investment on our part to further strengthen our commitment and contribution to the economy of our country,” he added.

Cape Town-based Quoin Online – the company tasked with the deal to dispose of the properties said in a statement said these properties are among a total of seven that the Nedbank Group has instructed to be sold in South Africa and in Namibia.

Quoin Online’s Wayne van der Vent said it is not often that institutional investors dispose of such big properties. “The sale of these properties presents investors and developers with a rare opportunity to acquire institutionally-held properties in good areas. And they are sizeable properties, so investors can undertake large developments, whether for refurbishments or redevelopments,” he added.

Van der Vent noted that Nedbank’s deal with Quoin Online has enabled it to dispose of a portfolio of properties located in the two countries through a single sales platform.

“And the fact that our platform is being used by a banking corporate such as Nedbank, which has numerous governance requirements, gives us a fair amount of credibility,” he added.

In addition to the two properties in Windhoek, Nedbank is also disposing of three in Gauteng and two in the Western Cape.

Eleven of Nedbank’s 30 branches in Namibia are located in Windhoek.



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Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.