August 18, 2006
By Lucille Davie
A NEW development, the Bridge Precinct, takes Braamfontein another step further in its rejuvenation drive.
The precinct consists of five properties for rental - three buildings and two parking lots - in the process of being developed by Danaug Investments. The first property, referred to as No 1, on the corner of De Beer and Smit streets, saw its tenant, Ayanda Solutions, an office furniture company, move in this week.
The precinct is a block away from the Nelson Mandela Bridge, linking Braamfontein with Newtown in the CBD.
The Braamfontein Regeneration Project has seen the suburb being spruced up: trees have been planted, new lighting has been installed, street furniture like benches and artwork have been positioned along the pavements, and new paving has created focused areas.
Like the city centre, it had seen an exodus of businesses to the northern suburbs, and over the past decade had become rundown and untidy. But now the previously vacant shops have been largely filled by restaurants and food chains. This has had a ripple effect, and owners have responded by fixing up their shop fronts, extending their shopping hours, and bringing tables and chairs out on to the pavements.
Guards now patrol streets; toilets have been constructed in alleyways, some of which have been fenced off for safety; and streets are being regularly swept.
The Danaug directors are architect Jonathan Gimpel, responsible for the Media Mill and Atlas Studios developments in Milpark, and Steven and Justin Blend, who bring financial and legal skills to the company.
No 1, built in 1906 as a hotel, has been refurbished, retaining the tall, pressed-steel ceilings, fireplaces and shuttered windows.
"We basically had to strip the building down to its bare bones and refurbish it from the bottom up," says Gimpel. "The result is an excellent, strategically positioned A-grade property." The parking area will provide 50 parking spaces.
Danaug is looking for retail or commercial tenants for the other two buildings, and won't start renovating the buildings until tenants have been found. The reason for this is that they prefer to renovate to the tenants' needs. Rentals go for between R45mē to R75mē.
"The inner city has a bright future and our move to the Bridge Precinct will contribute towards turning that vision into reality," says Ayanda Solutions CEO Bheki Vilakazi. Ayanda has their main office in Randburg.
Justin Blend says they'll be looking for office services industry companies.
"The idea is to bring a high visibility, offices services precinct to life in a key position to service the new look Braamfontein and Joburg CBD as well as the peripheral areas."
Blend says Danaug will be providing security for the precinct, as well as renovating the small park across the road from the buildings.
Danaug's total investment in the precinct is R20 million.
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