Landlord shows Trillian the door at Melrose Arch, cites reputation fears

Cape Town – Property development and investment group Amdec confirmed on Monday that it had cancelled a lease with Trillian for office space at Melrose Arch of Rosebank, Johannesburg, sighting the potential for “reputation damage”.

Trillian is still reeling from scandals related to the governance of Eskom in recent years under former CEO Brian Molefe, former CFO Anoj Singh and, more broadly, former minister of public enterprises Lynne Brown.

Trillian is in the process of contesting an Eskom bid to recover R600m it was paid by the power utility under its past leadership. The state-owned power provider also paid R1bn to McKinsey, who have indicated a willingness to repay the money.

Amdec managing director Mike Vermaak told Fin24 that Trillian’s lease with them at Melrose Arch was, indeed cancelled, with a year left.

He said the cancellation was considered final and that Amdec had nothing else to say on the matter other than what has been reported and announced.

“I think what we said was made by the CEO. That is the only statement we have to release. We don’t want to carry on with the subject. It has been reported and announced extensively and we do not have any further comments to make in this regard,” Vermaak said.

On Monday morning Business Day reported that Amdec would cancel Trillian's lease for office space at Melrose Arch with a year left on the agreement.

ZAR/USD
17.43
(-0.63)
ZAR/GBP
22.91
(-0.83)
ZAR/EUR
20.70
(-0.69)
ZAR/AUD
12.61
(-1.13)
ZAR/JPY
0.17
(-0.63)
Gold
2059.93
(+1.19)
Silver
28.42
(+5.90)
Platinum
989.00
(+2.66)
Brent Crude
45.33
(+1.67)
Palladium
2208.00
(+2.06)
All Share
57656.69
(+0.05)
Top 40
53350.88
(+0.13)
Financial 15
9888.41
(-0.41)
Industrial 25
76178.50
(+0.02)
Resource 10
60086.05
(+0.49)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 911 votes
It depends on how the funds are used.
74% - 6058 votes
No. We should have gotten the loan elsewhere.
15% - 1229 votes
Vote