Renuka Hotels, Cargo Boat Development to construct Rs. 2 b office complex in Colombo 2
Friday, 21 November 2014 01:01
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Renuka Land Ltd., a joint venture between Renuka Hotels Ltd and Cargo Boat Development Company Plc, has initiated a project to construct a modern rentable ‘Class A’ office building complex in Colombo catering to the much-needed requirement of such a facility in the rapidly developing city.
Enabling convenience and affording accessibility, the building will be located on company-owned land at No. 29, Braybrooke Street, Colombo 2, in the heart of the metropolis.
The total investment for the Board of Investment (BOI) approved project has been estimated at Rs. 2 b.
The building will adhere to modern international standards and criteria at all stages of construction along with the introduction of new and innovative features to its design.
The construction of the building, which is scheduled to commence in December this year, will culminate in April 2017.
The property will consist of 204,343 sq ft, out of which 108,138 sq ft will be available for rent. The design comprises of the ground floor, basement and 13 levels, out of which five levels will be allocated for parking with 160 parking bays, and eight levels will consist of state-of-the-art rentable office space. The ground floor will consist of the main entrance lobby, coffee shop, administration offices and services.
The construction contract will be awarded to a C1 contractor and the design has been done by a dedicated team at Design Group 5, one of Sri Lanka’s well established architectural firms and the winner of the Best Office Architecture Award for the Asia-Pacific region. As such, following contemporary design practices that best suit the needs of end users of the building, Design Group 5 has incorporated recreational and utility facilities such as a coffee shop, a gymnasium, a rooftop terrace and a laundry and dry-cleaners into its blueprint with the aim of providing maximum convenience to their tenants.
The service facilities of the building include high speed passenger lifts, 100% backup generator for the entire facility and advanced safety and fire detection systems that will be built according to international specifications. There is also the option of getting office space tailor-made according to a tenant’s specific requirements at the initial stages of the development of the project.
Renuka Hotels Ltd. and Cargo Boat Development Company Plc have been in the industry of managing hotels and property development and management for decades. Cargo Boat Development Company Plc owns and manages 75,000 sq ft of office space in Janadhipathi Mawatha, Colombo 1 and Renuka Hotels Ltd owns and manages Renuka Hotel and Renuka City Hotel.
The Board of Directors of Renuka Land Ltd. include R. B. Thambiayah, N. A. Thambiayah, S. R. Thambiayah, A. L. Thambiayah, N. R. Thambiayah, M. A. Jayawardena, W. D. Nimal Hemasiri Perera and S. M. Tishan Harendranath Subasinghe.
