Nick Wilson
Property Editor
THE efforts of private property players and the City of Cape Town to rejuvenate Cape Town’s Greenmarket Square are paying off, with millions of rands pouring into building refurbishments in SA’s second-oldest public square.
The rejuvenation drive, initiated by the city, includes the “pedestrianisation” of the square, the widening of Short- market Street sidewalk, upgrading of the ablution block, construction of a concert stage and reconfiguration of the informal trading areas.
Prominent stakeholders involved in the rejuvenation efforts include the Cape Town Partnership, Cape Town Central Improvement District, Irish property investor Eurocape Holdings and Vunani Properties, among others.
Rob Kane, director of Vunani Properties, a significant investor in the area with developments and existing properties valued at about R220m, said yesterday the group would soon launch a jewellery mall on the square.
The R18m mall, which would include 25 shops on the 900m² premises, was due to open by the end of February. “We have it about 50% let. We are also looking to put in a deli,” Kane said.
He said there had been a “huge change” in Greenmarket Square over the past few years. “In the vicinity of the square there have been 15 buildings that have been substantially upgraded,” Kane said.
Over the past five years, the square had not been maintained properly. “The city and business will work together to create a really unique market there,” Kane said.
Publisher: I-Net Bridge
Source: I-Net Bridge
