Durban's inner city coming alive again

John Ross House refurbishment is bringing premier offices back into the heart of Durban.

Thanks to a convergence of tax incentives, catalytic development and a growing demand for inner-city offices, Durban's CBD is garnering more attention than ever. Nonetheless, it took a Capetonian to recognise the enormous potential in the landmark John Ross House.

"Anton Botha, of Cape Town-based Catalyst Group, decided to turn a well-known Durban property into an urban regeneration landmark," says Colin Sher, the managing director of Broll KZN, which handled the leasing of the property's commercial space.

Completed in the early 1970s, the 33-storey building is best known for the iconic Roma Revolving Restaurant, one of only a handful in the world, which offers a 360 degree perspective of the cityscape. There are also more than 500 sectional title apartments in the building, many of which enjoy spectacular harbour views.

"But it was the 13 000m2 office and retail component that really needed attention," says Sher. And it has certainly received the most detailed attention as part of this landmark multimillion-rand project by the owners, the Catalyst Group.

Broll portfolio executive Theresa Terblanche says the R38 million refurbishment restored the lower three floors of the property - including the ground-floor retail and two floors of offices situated in the podium of the building - redeveloped the public foyer and updated the exterior facades.

"A hi-tech security system was installed and extensive upgrading of the lifts, air-conditioning and electrical infrastructure have all been put in place," she says.

As with any project that is quick to respond to changing market dynamics, the John Ross House refurbishment was not without its challenges.

"A project of this nature, which uplifts the surrounding infrastructure, does not come without its difficulties," says Sher. "These varied from an apprehensive body corporate and residential owners to council's hard-line approach to its rules and regulations, plus several maintenance flaws, such as water leaks."

Still, the decision paid off. The new-look John Ross House, with its gleaming, blue glass office towers, is well positioned to take advantage of the expected upswing in Durban's CBD.

Tapping into government tax incentives offered in the Durban CBD's urban development zone enhanced the project's viability. The building's prime location overlooking the city's busy harbour - and its proximity to the catalytic Point Waterfront initiative - enhanced its appeal as an investment, says Botha.

"Another factor is a renewed sense of excitement about having a downtown address. It's one of the reasons the new office towers let so smoothly," says Sher. "Freight company UTI occupies 3 000m2 of the newly refurbished office premises, and Spar has taken up retail space, with a host of convenience retailers geared to serving office workers and residents in the building and in nearby flats."

Broll is itself relocating its 1 300m2 KwaZulu-Natal headquarters, consolidating its Musgrave and Berea offices, to John Ross House. The firm is putting its money where its mouth is, says Sher.

Weekend Property supplement (Saturday Argus)

Posted at 09:52AM Nov 23, 2009 by Editor in Commercial  |  Comments[2]