One of 4 new apartment developments by Propertuity in West / Pixley Street. Formerly the home of Payne Bros Department Store, and then Games store. Currently called Prepkor Building. This is one the downtown's art deco gems.
One of Durban’s finest examples of Art Deco architecture, the iconic Pixley House (formerly Prefcor House), is set to undergo a massive transformation with the development of 115 residential units that combine design and function to create distinctive living spaces for those seeking an alternative lifestyle offering.
Situated in the core of Durban’s CBD, Pixley House is part of a dynamic economic, social and cultural hub, bustling with activity. As part of the urban regeneration strategy set for Durban, the City government is planning an integrated public transport network through the CBD. This is part of the City’s vision to extend the success of the 2010 Beach Front Upgrade, constituting massive investment in safe, secure and appealing public spaces. These are the foundational logics for Propertuity’s investment in Durban’s Inner City.
The architectural heritage and geographical assets of Durban offer limitless opportunities for activating buildings and transforming places. By developing buildings with strong potential such as Pixley House, Propertuity offers progressive and distinctive urban spaces for residents, investors and businesses, which will in turn, contribute substantially to regeneration efforts in and around Durban.
I see that Intrepid House is shown as a conversion. Its actually 320 West st at one point Durban's premier office tower. Was owned by Redefine so not sure if its been sold but also gonna be a tough conversion with geometry not ideal and also applying SANS 204 and XA makes Livability (insulation, ventilation etc) difficult to apply to the bigger buildings. Looking at 4 conversions now in Joburg and pretoria and some just don't work or cost too much making then unviable . Im sure Propertuity done their homework but a 32f conversion is massive in terms of CAPEX and # of units it could deliver to market
Redefine Towers (320 West Street Durban) KwaZulu-Natal
R188 700 000 valuation
GLA 22 787( seems wrong???? too small)
Gross rental R99/m2
Read that its got a vacancy of 20 000m2 so this building seems to be in trouble
Also read leasing at R45/m2
Had an email on this dev the other day but see its now moving in the press too.
Durban art deco building to be 'jewel of the city'
Durban's CBD is set for a dynamic revamp with one of its prominent buildings, Prefcor House, which houses Game, being turned into the "jewel of the city".
And this is expected to be the first of a number of buildings that will be revamped to include modern flats, turning the CBD into a suburb and not just a place to work.
Maxine Keet, the Durban operations director for urban regeneration company Propertuity, said the revamp of the building would stimulate development in the area, and fell in line with the eThekwini municipality's plans to regenerate the area.
It will be revamped into a modern block with one- and two-bedroom apartments, studio apartments and space for two penthouses.
There are also plans for a gym and restaurant.
There will be 115 apartments with units priced from R360 000.
The project is set to start in January with the apartments ready for occupation by September, said Keet.
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