Trillian Capital Partners counts the cost of leaving Melrose Arch
Trillian Capital Partners’ decision to leave Melrose Arch cost the company, formerly owned by Gupta lieutenant Salim Essa, R3.6m, but the financial services provider says the move was justified. The company is now operating out of Rosebank in a smaller office. Melrose Arch is 75% owned by Melrose Arch Investment Holdings, which is Amdec’s subsidiary. Amdec is an unlisted property investment company based in Cape Town. Trillian has said Amdec’s CEO and Melrose Arch spokeperson James Wilson lied when he said Melrose was happy to be rid of them, suggesting Amdec would have been happy to continue to receive rent, and that the comment risked the landlord’s reputation to continue to do business with them. Wilson said last Friday that Trillian had left by mutual agreement in March with about a year to go on its lease. Trillian cancelled their lease in February by mutual agreement and vacated the premises. "We reached a commercial settlement at Trillian’s own request with the landlord. Amde...
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