Proven makes US$8.5-million commercial property investment
Financial company partners with Tingrinners on new five-storey office buildingWednesday, July 28, 2021
BY VERNON DAVIDSON
Within another 11 months the capital city's skyline will be enhanced by a five-storey building on Lady Musgrave Road housing the operations of local financial house Proven and Tingrinners Orthodontic Services.
The project, being undertaken by Proven REIT and KASE International Ltd, which trades as Tingrinners, represents an overall investment of US$8.5 million, and is being seen by the developers as a benchmark for commercial property, particularly in the post-COVID-19 era.
“With this development we believe that we are creating and building the future of commercial real estate,” Proven REIT CEO Aisha Campbell told the Jamaica Observer.
“COVID came and shifted how, when and where we work, and so with this design what we're doing is [defining] what office space and culture will look like,” Campbell said.
Construction of the 41,872 sq ft building, which will be aptly named Proven Point, began in May this year and the project, Campbell revealed, is ahead of schedule.
“We will have a few spaces that will be put on the market for rent, but it's primarily for Proven's head office and also for Tingrinners' operations,” Campbell told the Business Observer.
Designed by architect Christopher Whyms-Stone, co-founder and director of Cornerstone Design Ltd, the building will provide adequate parking, both at the basement and ground levels, with elevator access from the basement.
“People nowadays are aspiring to get more out of the workplace, and what we will be creating, specifically for Proven, is an environment that will allow flexibility for employees and that will incorporate design features such as energy efficiency, because we want to continue being responsible developers by reducing our carbon footprint and utilisation of renewable energy,” Campbell said.
“We will be focusing on wellness because we hope to incorporate a gym for employees, access to outdoor space, such as balconies, lots of natural light as well, because you want the environment to help bring out the best in your workforce — that's how we approached the design, we went through a detailed design features analysis,” Campbell explained.
“It will be more convenient for our customers. It will also allow for the group, from an operational point of view, to gain more efficiencies because of cost savings,” she added.
“It's never going to go back to what it was before [the pandemic], but you're still going to need a space where people collaborate and work efficiently, and what you want to do is create those spaces so that they can come to work and still feel like they have a flexible work culture and they're comfortable, and so you want to get that balance in the design and how you layout the whole space for your employees,” Campbell argued.
She acknowledged that the company made a strategic decision to acquire the property, which sits just outside the heavily trafficked New Kingston business district and can be easily accessed from Hope Road.
“Real estate decisions are heavily dependent and guided by location, location, location and for us, when we saw this opportunity it really was an ideal location in terms of convenience for our customers and employees. The space is going to be one that is comfortable and that enhances their experience with Proven,” Campbell said.
Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at https://bit.ly/epaper-login