CBD benefits from relocation

Posted On Wednesday, 13 February 2002 03:01 Published by
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THE relocation of two major educational institutions to larger, upgraded premises in Cape Town's CBD is welcome support for the efforts made in reinforcing investor confidence in the area,
THE relocation of two major educational institutions to larger, upgraded premises in Cape Town's CBD is welcome support for the efforts made in reinforcing investor confidence in the area, says Peter Golding, managing director of Golding Commercial Properties.

'This also bodes well for investors' return on investment as it has a multiplier effect on other regeneration projects for the city and immediate surrounds.

'Two of our commercial brokers, Hilton Serman and Rod Warner, have just concluded significant deals involving the Boston Education Group and Oval International - both of which have moved to locations in central Cape Town,' he says.

Says Serman: 'Boston Education Group has moved its Boston College City Campus to take up 1 200sqm in what was formerly the JHI building in Adderley Street, opposite the railway station - an address which provides far greater access for their learners. This former B grade building, which is currently being considerably upgraded, far better suits Boston's requirements in every respect.'

As part of their upgrade, Boston's Business College, previously situated in Table View, has also moved and is now located in larger premises at 91 Main Road, Claremont, in Cape Town's southern suburbs. These B grade premises are conveniently located near the railway station and are more accessible to learners from much wider range of residential areas. This is the first major educational institution to be located in Claremont.

In another major boost of confidence for the CBD, Pravin Maharaj, CEO of Oval International - which has IT training colleges throughout South Africa - recently purchased the former headquarters of the SA National Parks Board at 45 Long Street.

The deal was also concluded by Hilton Serman of Golding Commercial Properties and financed by Investec for a sum in the region of R3 million. Built in the late 1890s, this grade one national monument was the home of the YMCA for many years, and was also for a time the venue for the Space Theatre - a breeding ground for up-and-coming and local theatrical talent.

Adds Serman: 'Oval which has relocated its college from the outskirts of the CBD, now occupies 2 400sqm right in the centre of the city - a location which is not only more convenient and safe for its learners, but also enables them to accommodate more people.'

Publisher: Cape Business News
Source: Cape Business News

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