The rejuvenation of Braamfontein is enjoying a further boost with the news that Danaug Investments has unveiled the first component of its “Bridge Precinct” development on the strategic Smit Street East-West axis.
The development consists of three properties offering some 4000 square metres of prime commercial and retail space, as well as two vacant stands which form invaluable parking. Collectively they constitute the “Bridge Precinct” in view of their proximity to the iconic Nelson Mandela Bridge.
Danaug has extensively refurbished the first of the properties, on the corner of Smit and De Beer Streets, retaining many of its attractive architectural features, notably lofty pressed ceilings, shuttered windows and character fireplaces.
The first tenants in the new development, Ayanda Solutions, an empowered, office furniture company, will occupy 800 square metres, in what was originally a hotel built in 1906. Over the last 100 years the property has been converted from the hotel to offices to a school and now it has been developed to a magnificent office furniture showroom.
Directors include Jonathan Gimpel, Steven and Justin Blend. Together they bring architectural, financial and legal skills to the property development sector, making this a formidable team devoted to the revival of the inner city with the emphasis on accommodating clients’ individual needs.
“We basically had to strip the building down to its bare bones and refurbish it from the bottom up,” says Danaug’s Jonathan Gimpel. “The result is an excellent, strategically positioned ‘A’ grade property.”
Investment in the five properties which make up “Bridge Precinct” will ultimately cost R20 million, confirming the confidence which Danaug has in the future of Braamfontein.
The idea is to bring a high visibility, office services precinct to life in a key position to service the new look Braamfontein and Joburg CBD as well as the peripheral areas.
“What we look for are synergies with our tenants and the area they serve. This is exactly the premise upon which the Bridge Precinct has been established,” says Danaug’s Justin Blend.
Bridge Precinct offers prospective tenants high standards of accommodation at rates varying between R40 –R70 per m2.
In terms of transportation upgrades Gimpel points to the metro’s plans for a circular system of bus links, taking in Braamfontein, Ellis Park, Newtown, Downtown and of course the Gautrain terminus at Park station.
“The Bridge Precinct is the culmination of two years of hard work, which could only have been made possible with the assistance of the Johannesburg City Council and their Better Buildings project,” comments Steven Blend.
Upgrades to the area’s infrastructure in terms of security and cleanliness are taking place in Braamfontein at a rapid rate. Bridge Precinct will be both a catalyst and a participant in this rejuvenation process.
