Office and retail block gets R5,5m makeover.

Posted On Thursday, 06 February 2003 10:01 Published by
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RMB Properties has spent R5,5m in an attempt to revitalise an office and retail development in the centre of Cape Town called Wesbank House.

RMB Properties has spent R5,5m in an attempt to revitalise an office and retail development in the centre of Cape Town called Wesbank House.

The move represents a boost of confidence for the Cape Town central business district (CBD).

According to district improvement agency the Cape Town Partnership, the mother city commands development projects that have been planned and approved worth about R8,7bn.

Wesbank House, on the corner of Riebeeck and Long streets, had renovations to its facade and the shops on Riebeeck and Long streets, and was given 90 additional parking bays.

'St John's Arcade, which housed a bank of unsuccessful retail space, was converted to a muchneeded parkade for our office tenants,' says RMB Properties' Western Cape regional general manager, Martin Rippon.

He says the parking bays were developed to improve the parking ratio at Wesbank House.

Rippon says the focal point of the Cape Town CBD is shifting towards the northeast, particularly with the development of the R500m convention centre and the Roggebaai Canal Tourism precinct.

He says once the external renovations to Wesbank House are complete, upgrades to internal facilities such as lift lobbies, lighting and kitchens will be undertaken.

The development is anchored by Wesbank, which recently renewed its lease to occupy 2410m².

Its retail tenants include Vision Mart, Liquorland, Unitrans Express Deliveries and Your Snack Box.

Up to 4500m² of office space remains vacant.


Publisher: Business Day
Source: Sibonelo Radebe

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