Sri Lanka newly built Macksons Tower offers flexible rents in tight economy

ECONOMYNEXT – Macksons Tower, a newly completed 19-floor mixed development says it is offering flexible rental options support prospective tenants amid tight economic conditions in Sri Lanka.

Located in Alfred House Gardens, Colombo 03, an upmarket shopping area, the 100,000 square feet tower has 70,000 square feet of rentable space made up of retail and office floors, two restaurant levels on top and three levels of parking.

“We understand this is a challenging period and that the market too is competitive, therefore, we are open to negotiate and provide the best package that will fulfil the tenant’s requirements,” Macksons Developers Directo rand Chief Executive Ranga Goonawardena said in a statement.

“Even, if you are coming for a short-term contract we can be flexible on terms.”

Macksons Developers says it will also provide a ‘reasonable’ grace period and rate if the tenant is signing a long-term contract, where step-up leasing rental would be an option.

The firm said it did not pre-sell office space allowing customers to make decisions after completion.

The Macksons Towers will haver co-working spaces in two floors which will further lower rent costs for small businesses.
Macksons says no new construction projects are have been initiated over the past year.

“Therefore, we have a small lead,” Goonewardene said. “As a Group we arevery positive about the market and we will continue to make investments in property development.”

The completed building was declared open by Macksons Holdings Chairman Milfer Makeen, Managing Director, Mizver Makeen.

Macksons Holdings has 14 subsidiaries including Multilac, Macktiles, Mans Lanka and Mandarina. (Colombo/Mar14/2021)