#Virgin Active Site Redevelopment - CBD

[Lydon]

According to Ingenuity Properties:

Formal agreements have been concluded with the City of Cape Town to acquire the leasehold rights of one of the two erven that makes up this site. The acquisition is subject to the approval of additional development rights to be granted that must be approved prior to transfer. The application for the development rights and a formal site development plan have been finalised and form part of a public participation process. This process is likely to take in excess of a year. Once approved this will add significant value to the site, as the combined erven will have over 22 000 sqm of available bulk for development. In the meantime the building currently situated on the land remains well let and provides a solid return.

-----

I presume that Dennis Fabian Berman Architects are working on this proposal, so we shall have to keep an eye out for any more details.

[Mo Rush]

Think you're looking for this thread:

http://www.skyscrapercity.com/showth...1#post68284181