September 2016 Update:
The building will consist of the following:
- Retail – 15%
- Health Club – 14%
- Residential – 43%
- Offices – 28%
- An “ample” supply of underground parking which was not included in the calculation.
Property firm Pam Golding told City Press that more than half of the flats in the block have already been sold off plan.
A 45 square metre studio apartment in the block is being sold for R2 270 000, while a 59 square metre 1bed/1bath unit is selling for R2 695 000. The most expensive offering is a 2 bed/2 bath 234 square metre penthouse priced at R14 150 000, while a smaller unit, at 187 square metres with 3 bed/3 baths is priced at R11 250 000.
Responding to questions from City Press, Johan van der Merwe, City of Cape Town mayoral committee said that the development ‘aligns with the city’s planning policies for the area in that it will facilitate inner-city densification’. It said that the scale of the building is acceptable ‘with taller parts orientated along the commercial main road, which is Strand Street, and the smaller less intense components situated towards the back of the development, abutting the Bo-Kaap residential neighbourhood’. It said that the proposal for the development received heritage-impact approval from Heritage Western Cape.
A new mixed-use development is planned for a heritage building on Strand Street in the Cape Town CBD. Situated on the boundary of de Waterkant, minutes away from the V&A Waterfront it has easy access to city-based businesses. The development is located within Cape Town’s Urban Development Zone.
The development will include three floors of office space, and the remainder comprising 117 apartments and retail spaces on the low ground and ground floor levels.
More information : http://www.117onstrand.com/