The Barclay Mansions property in Durban’s South Beach has been renovated restoring it to its former glory, a project that took two years. The project was a combined effort of the property trustees along with Harcourts DRM and Propell Levy Finance.
Many historical factors contributed to the scheme and building being in a state of neglect, with overcrowding, levy arrears, water leaks, and illegal electricity connections, spalling of the concrete and overdue painting, explains Tertius La Grange, Propell regional manager in Durban.
“Notice was given to all owners 12 months in advance that the building would have to be vacated for a full month in February 2011 to carry out many of the necessary changes.”
Some of the changes that were made include extensive plumbing and re-piping throughout the building, with each unit having their own individual council approved water meter, and all illegal electricity connections were identified and disconnected.
Over-crowding in the building had become a very real concern so a finger print recognition access control was sourced and installed to assist with this. The entire building was repainted and the refurbishment of the lift will begin shortly, says Tertius.
While the building was evacuated many owners were able to renovate their units, resulting in them being able to secure rentals or to simply do those renovations required to increase their property value.
Since the renovations have taken place the demand for rentals in the scheme has risen sharply.
“Through the use of products like those on offer at Propell, projects like water meters, lift refurbishment or plumbing can easily be addressed,” says Tertius.
With a strong trustee and management team in place, like with Barclay Mansions, projects like these are able to add enormous value to the units and the building in general, he adds.
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