SUNBIZ

Twin Tower Union Club Set To Develop

About $35 million will soon be injected on a property belonging to one of Suva’s pioneering social clubs the Union Club on Kimberly Street, Suva. The proposed “The Union Twin
27 May 2015 09:47
Twin Tower Union Club Set To Develop
President Ratu Epeli Nailatikau with the Union Centre Tower launch at the Union Club on Kimberly Street last night. Photo: JONA KONATACI

About $35 million will soon be injected on a property belonging to one of Suva’s pioneering social clubs the Union Club on Kimberly Street, Suva.

The proposed “The Union Twin Tower” of 11 and nine floor stage one towers has been enabled by current club trustee Vijay Raghwan.

Mr Raghwan is the brainchild of the proposed development with fellow trustees Viliame Katonivualiku and Brij Lal.

The announcement last night at Union Club was apt in that it also marked the 70th Anniversary of the club.

It brought the likes of President Ratu Epeli Nailatikau, who was chief guest attending the auspicious occasion, former Prime Minister Sitiven Rabuka and former club president Ilisoni Taoba.

“An expression of interest will shortly be called for a joint venture partnership with deep pocket for the development of this Twin Tower,” Mr Raghwan announced.

The current property is valued at $6 million and hence the club is looking for a partner who will be able to match the value and jointly apply for a loan if need be.

“We are considering a strata title concept and some serious enquiries are at hand,” he said.

“The upper level is a mixed development from offices, hotel, penthouse night club, and entire floor of the Union Club.”

The proposed construction timeframe drawing including town planning requirements like rezoning will take up to 12 months.

“The construction for the 24-month of the stage will then begin.”

Mr Raghwan commended Government’s policies in the providing the investment climate.

“We acknowledge the policies of development and bringing in new planning and doing away with outdated town planning requirement in particular restricted the density allowable planning ratio or restricting development.

“And most importantly the sense of security and safe and caring stable Government.”

Mr Raghwan commended the works of Sharma Design Group Ltd, which had come up with the preliminary concept and design only within two weeks of request.

Feedback:  ranobab@fijisun.com.fj

 




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