Maritzburg sales and revamp

Posted On Monday, 01 January 2001 03:01 Published by
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MARITZBURG Two prominent old Maritzburg landmarks will undergo substantial renovation.

MARITZBURG Two prominent old Maritzburg landmarks will undergo substantial renovation.
The Nedbank building on the corner of Church Street and Gallway Lane, from which the bank had operated since the early 1960s, was purchased by a local investor group for R1,4m.
The group will spend another R500000 converting the ground floor banking hall into A-grade retail space for national retailers Clicks, which will also occupy the mezzanine and basement storage areas. Clicks has taken a 10-year lease on the property, according to JHI Real Estate, which sealed the deal.
The second property, Compen Building, opposite the city hall, was also sold to local investors for R1,2m. The ground floor will be converted into a manual-electronic banking hall for Absa, the first such facility in KwaZuluNatal. Absa has signed a five-year lease on the property.

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