Drive to revamp disused properties.

Posted On Monday, 03 February 2003 02:00 Published by
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Business Partners, a specialised investment group for small and medium enterprises, has introduced a new approach to rejuvenate old buildings and industrial complexes.
Business Partners, a specialised investment group for small and
medium enterprises, has introduced a new approach to rejuvenate old
buildings and industrial complexes. The company is investing in empty
and disused properties - belonging mainly to privatised and recently
modified parastatals - and converting these into thriving business

The new initiative is a co-operative venture between three of the
group's divisions, Business Partners Properties,   which handles the
property development and management portfolio; Business Partners
Brokers, which handles the property broking portfolio; and Business
Partners Investments, which handles the private equity portfolio.

These divisions are entering into joint ventures with existing
property owners to redevelop and revitalise real estate no longer
used for its original purpose.

The developments are situated in most of the major metropolitan
centres in the country and feature varied tenant mixes, including
both entrepreneurs and big businesses.

'Experience has taught us that these hubs work best with a mixed
tenant base,' said Christo Botes, executive director of Business

'Such a tenant base creates a market dynamic that promotes trade,
interaction and support between the entrepreneurs and the bigger
businesses located in a business park or complex.
'This adds value at all levels to all the businesses.'

One of the most successful examples of this form of re-development is
Arcadia Park in East London.

Here, previously disused workshops are now bustling new businesses of
all shapes and sizes.

A similair fate has met the Lock Street Gaol, in the same city - a
previously disused women's prison which housed  criminals such as the
infamous poison murderer Daisy de Melker.
Lock Street Gaol has been transformed into an impressive shopping
complex and office arcade.

In Durban, one of the most successful Business Partners' ventures of
this nature is the Victoria Street Market, (the old 'Indian Market').
Burnt down some years back, Business Partners was at the time the
only investment group willing to take the risk of rebuilding and
developing it.

Splendidly restored as one of Durban's premier tourist attractions,
the upgrade will include a redesign of the old market to bring it
into line with current international fresh-food marketing trends.

Publisher: The Star
Source: The Star

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