Business Day Reporter

BECAUSE of parking constraints — which have delayed construction — and a dramatic turnaround in the Claremont office property market in Claremont, Cape Town, the developers of the R260m Intaba redevelopment in the suburb have decided to now proceed with a mixed- use scheme.

Stuart Chait, CEO of Property Partners, says the big change was that the group decided to leave the Claremont Terraces , or Intaba West complex, as office accommodation.

"This came about not because it could not be sold as residential apartments but rather because there has been a marked revival for quality office space," in the better areas of Claremont," says Chait.

Completion of theThe Intaba residential complex should be completed reached by April next year. 2006. All 125 apart ments were sold in less than a month at prices from R580000 to R2,6m.

Twelve top-floor penthouses priced between R2,45m to R3,95m are also on sale.

The 1750m² of retail space in the development, which fronts onto Vineyard and Corwen Roads, were sold to a Cape Town investor at the full asking price of R15m.