1 February 2019. Attacq Limited (Attacq), the JSE listed property company developing Waterfall City and Waterfall Logistics Hub, is proud to announce a joint venture with City Lodge Hotel Group for the extension of its lease at the Waterfall Campus.
The City Lodge Hotel Group chain owns 5 Courtyard Hotels, 19 City Lodge Hotels, 13 Town Lodges, 22 Road Lodges and the Fairview Hotel. The Group has over 7500 rooms, suites and ranks, and is amongst the 250 largest hotel chains in the world.
“We are happy to have developed such a strong relationship with an international brand of City Lodge Hotel Group’s stature. The extension of this lease is a further testament to Waterfall City’s status as the ideal destination for blue-chip business,” said Giles Pendleton, Head of Development at Attacq.
The hotels lease which will last for 10 years with 5 extensions, has a floor space ratio of (bulk) 6 500m2, it will include 15 levels that will make up 168 rooms, a massive addition to its current 149 room hotel lease. The expansion of the development lease is expected to begin from the 1st of April 2019, with its expected completion set for the 1st of August 2020.
‘’As a hotel chain which prides itself as being amongst the best in the world, we are highly pleased to be expanding our lease at the Waterfall Campus. City Lodge is looking to grow its offering at Waterfall and to become the ideal accommodation for visitors to the City. It is quite evident that Waterfall City is developing nicely, considering that PwC’s new head office adds close to 4 000 people to the precinct and Deloitte’s building is also set to attract a similar proportion of people into the node,’’ said Andrew Widegger, CEO of City Lodge Hotel Group.
The current joint venture between Attacq and City Lodge complements some of the partnership which have already been created with companies such as Tricolt in developing the R1.2 billion Ellipse Waterfall residential apartments and PSG’s sod development which is also set to be completed before the end of 2019.
Waterfall’s combination of visibility and accessibility along with its proximity to the Mall of Africa, remains a crucial driver to ensuring continuous growth in retail, office and mixed-use, industrial and hotel activities in the Waterfall node.