Rs. 1.2 b development project in Kollupitiya
Lee Hedges Investments Ltd, a fully owned subsidiary of Lee Hedges
PLC has signed an agreement with the BOI for a commercial development
project which will provide 112,000 sq. feet of super grade office space
in its 15-floor complex, with three floors of parking, central air
conditioning and provision of two elevators, at an estimated cost of
Design Consortium, the consultants and architects of the project
considering the more than 100-year history of the parent company, Lee
Hedges PLC, has come up with a unique colonial architectural design.
The land on which the building is to be constructed was originally
owned by Lee Hedges PLC. The company was acquired by the Government in
1970 for the Cashew Corporation. It has been secured back from the UDA
on a 99-year lease.
The project is pioneered by the Chairman and Managing Director of Lee
Hedges, and the Chairman of Pioneer Group of Companies, S.R. Vamathevan.
The company has developed several residential apartment complexes within
the Colombo Municipal limits.
The proposed project will be one of the high rise mega projects that
will be built on the three acres of prime land with the Galle Road and
Duplication Road frontage.