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Send  Share  RSS  Twitter  20 Oct 2008

BUILDING: 1904 Character Building Turns Green

 



Recent Western Cape Business News

14 Loop Street in the heart of Cape Town CBD, is getting a new lease on life. This building, built in1904, is being extensively refurbished on the in- and outside into an upmarket office building by Vunani Properties. Vunani was attracted by the building as it is the last city block to be upgraded in what is fast becoming the financial heart of the city. Tenants are keen on the fact that building will be refurbished with consideration given to it being converted to a “green” building whilst retaining the fabric of its 1094 character.

 

Although this is still a fairly new concept to South Africa, it’s definitely becoming a trend with both tenants and landlords. Most commercial buildings have an average life span cycle of 24 years which makes “going green” a priority for the future. 14 Loop Street’s “green” features will include large double-glazed, tinted, openable windows that let in lots of natural light and require substantially less air-conditioning. Recycled materials were used in the renovation. In addition, power consumption will be reduced and water will be collected off the roof for reticulation into the building’s grey water system. Quote by Vunani director Rob Kane: “There is always a balance between commercial viability and wanting to provide sustainable developments. With 14 Loop Street, we seem to have achieved an acceptable balance”

The upgrading process started in September with completion aimed for year end. Retail and offices comprising a total area of 2,350 m², will already be available on 5 January. The parking ratio is 2.5 bays per 100m2 offices. The premises will be fully renovated with air-conditioning, a new foyer, refurbished lifts and standby generator in event of a power failure. The building top two levels can either be used as penthouse offices or residential space and will have a 250m2 roof garden with beautiful mountain views. The development value of the building at completion will be R34 million.

Vunani is a BEE property developer and some of their other recent commercial developments in Cape Town include The Decks on Green Market Square and 56 Short Market Street. Quote by Robe Kane: “Vunani has developed or bought properties in the CBD of over R250m”. Kane is also a board member of Cape Town’s Central City Improvement District.


 
 
 
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