National monument

Posted On Wednesday, 23 July 2008 02:00 Published by eProp Commercial Property News
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The historic Consolidated Building in central Johannesburg is to undergo an extensive redevelopment and upgrade to create 'prime office space'.

Property-Housing-ResidentialThe historic Consolidated Building in central Johannesburg is to undergo an extensive redevelopment and upgrade to create “prime office space”.

The eight-storey building owned by Dreamworld Investments 374, a joint venture between Amdec Property Development and Property Partners, dates back to 1905 and is a registered heritage property.

It was designed by architects TH Smith and Aburrow & Treeby, based in London and Johannesburg respectively, and erected by contractors Milliken Brothers of New York.

It was originally developed as the headquarters of Johannesburg Consolidated Investments, on land valued at £40000 in 1904. In 1910, the valuation of land and buildings topped £130000.

Amdec has said that along with the Standard Bank building in Johannesburg’s central district, the Consolidated Building is a recognised national monument.

The group said it has committed a “substantial investment amount” to refurbishing and renovating the property.

The 5832m² building is vacant. Amdec said it was confident of letting the building soon after redevelopment as it “offers several key features usually lacking in older properties”, including convenient parking nearby.

Internal walls will be removed to create modern, open-plan space, and air conditioning is being installed.

““Tenants have access to convenient parking at Drummond parking garage, which is also owned by Dreamworld, a few streets away,” Amdec’s Nicholas Reyneke said. The building offers a secure underground walkway into the basement of the neighbouring 28 Harrison Street and safe shuttle transport to the garage itself,” says Nicholas Reyneke, investment manager of Amdec.

Reyneke says they will also be removing internal walls to create modern, open-plan space and air conditioning is being installed throughout the building. Leasing is expected to start before the end of the year.

Last modified on Friday, 16 May 2014 10:27

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