Tue, 21 Sep 2021 Today's Paper

Lee Hedges to build Rs.1.2bn office complex

12 March 2014 04:55 am - 0     - {{hitsCtrl.values.hits}}

A A A

Lee Hedges Investment Ltd, a fully owned subsidiary of Lee Hedges PLC has signed an agreement with Board of Investment (BoI) for a 15-story office complex in Colombo 03 at an estimated cost of Rs.1.2 billion.

The company has leased out for mer Cashew Corporation land which extends for 52.92 perches for this development from Urban Development Authority on a 99-year lease term.

Lee Hedges PLC told the Colombo Stock Exchange that the total investment in leasing the land was Rs.466.6 million.

The land on which the building is to be constructed was originally owned by Lee Hedges PLC. The land was acquired by the government in 1970 for the Cashew Corporation.

The commercial development will provide 112,000 square feet of space, with three floors of parking, central air conditioning and provision of two elevators.

“Design Consortium, the consultants/architects for the project having taken note of more than 100 years history of the parent company, Lee Hedges PLC, has come up with a unique colonial architectural design, which will stand out on its Galle Road frontage,” a BoI statement said.

The project is pioneered by S. R. Vamathevan, Chairman/ Managing Director of Lee Hedges PLC and the Chairman of Pioneer Group of Companies. The company has developed several residential apartment complexes within Colombo’s Municipal limits.

Lee Hedges last year sold a land extending over one acre located at R.A. De Mel Mawatha, known as Colpetty Mills to China’s Avic International for a consideration of Rs.1.24 billion.
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


Mysterious disease killing pups!

A mysterious respiratory disease affecting puppies in the Central Province is

Jacqueline Fernandez; Lankan Star Shining in Indian Film Sky

Sri Lanka’s Jacqueline Fernandez who has made a name for herself in India

Young families share stories of pregnancy in a pandemic

For hundreds of expectant and new mothers, pregnancy and childbirth are nothi

“Your travel plans should not come first” – Dr. Dinu Guruge

In a recent live discussion on fighting the Covid-19 pandemic hosted by Daily