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Discussion Starter · #1 ·
Hi Guys,

Have anyone come across information about a redevelopment happening at the Pinnacle on the corner of Strand and Burg Street in Cape Town?

The property just transferred into the name of a very active developer.

Whats the word?
 

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Karoo Prime
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Did y'all know that this was the old Santam building back in the day, long before the glass curtain cladding?
 

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It could be a fairly decent sized conversion, there are a fair few floors behind that glass curtain cladding. From counting just now on Google Streetview it's 8 floors on the less tall bit facing onto Strand Street and 13 floors on the taller bit facing onto Burg Street (both not counting anything in the base with the glass pyramid on top). A very positive development for the area I hope.

- Julian
 

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From behind ( ;) ), a few minutes ago:
...
Not having a secret assignation in one of the trailers on top of the Grand Daddy hotel I hope. If so then you are so busted :). (That's my guess as to where the photo was taken from - the Grand Daddy roof bar rather than from inside one of the trailers!)

It's going to be very interesting to see the pricing for this development. It's a conversion not a new build so presumably that takes a bit off and it's not on one of the most glamorous blocks in town. I wonder how far the developers think they can push the pricing on this one and, depending on how far that is, how potential buyers will react.

- Julian
 

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Discussion Starter · #11 ·
Ive had a look at the initial plans and it would be a mixed used development with "Lifestyle" amenities like rooftop pools gym and mostly micro residential units.

From the +- 200 Units, most are between 24 and 30 m2. Also interestingly 65m2 two beds for around 3,2 mil. The units seems to be designed like hotel rooms with quite a bit of ready built in furniture.

The scheme is also selling parkings, 150+ parkings, dont know what the price would be.

Not sure when the launch is.
 

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this render looks more like that of an office upgrade than a resi conversion!
I assume you're talking about the internal shots and I agree. Very hotel-room like, similar to something like The Pepper Club. I assume this is targeted at the proxy-hotel-room short term let market because, speaking personally and judging from the renders, this just wouldn't feel like a home to me. Maybe I'm too old to get this "on the edge" (to steal a phrase from the Property24 description) city living vibe (despite living in CBD only a few blocks away) but if I was on a 6 month assignment let alone looking for a permanent home this wouldn't give out the right "this is home" feel for me.

Assuming this is another development aimed at the proxy-hotel-room short term let market I really do wonder how close to saturation that market is getting in CBD. I know I've been saying that for ages but the demand can't be infinite so a saturation point must come eventually especially given there seems no shortage of new hotels coming on line as well as any new apartments being added into the equation.

All in all I'm a bit disappointed by this. I'm hoping for more resi stuff to build a growing population of permanent CBD residents and this doesn't seem to be it. Maybe that's just the renders through and they didn't do a great job of creating the impression of any ambiance, it looks so sterile to me.

- Julian
 

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Agreed.
The one thing that struck me is no balconies or sliding doors onto juliet balconies at the very least.
The windows look like the inside of the Gardens Centre apartments, which were also something like 35 sqm.
Difference is the price here, youd expect them to have done some reconstruction for the façade to "enable" the frontage to be more apartment like with full height windows and sliding doors onto a balcony.
I guess they went the other way as you mentioned - the short term business let / yuppy bolthold for Sandton execs to use as a shagpad or for their spoiled offspring to slum it manhattan style when on hols. ;P *just me being facetious
 
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