Estate Living Magazine Invest SA - Issue 41 May 2019 | Page 12

P R O P E R T Y
Beaconfield Court - artist's rendering
&
I N V E S T M E N T
Beaconfield Court - artist's rendering
One of the earmarked sites is the Linatex but unfortunately could not cope with the which they will get first preference on
building in Jeppestown, where up to
15 people share a dorm room with only
curtains to separate them. It was meant to
be temporary accommodation for people
who were moved there after evictions and
fires, but many have ended up staying
for years because of the lack of available
space in the city. Another site is an illegally
occupied building on the corner of Raleigh
and Bedford streets in Yeoville that houses
the post office.  rapid population growth. This, together
with lack of investment, led to an efflux of
infrastructure and decay of major buildings.
The broader area is characterised by a large
percentage of blocks of flats and secondary
commercial properties. Neighbouring
nodes with a similar geographic appeal
to Yeoville include Berea, Hillbrow and
Bellevue. These areas are known for high
levels of population, unemployment,
poverty and crime,’ says the document. units let out at between R800 and R1,000
a month.
According to the council’s prospectus
for the rejuvenation plan, Yeoville
‘started attracting a cosmopolitan and
politically progressive feel in the 1980s, The current residents of the targeted
buildings are to be offered temporary
emergency accommodation while the
buildings are being refurbished, after
Aside from the buildings targeted, the
city has identified a number of vacant
sites for the construction of high-rise
buildings to create more low-cost housing.
The Johannesburg Housing Company,
a social housing company, has been
tendered to develop one of these sites in
Newtown, where it has a number of other
developments, most notably Brickfields,
on the site of Johannesburg’s original
brickfields where the first bricks that were
used to build the city were made.
Beaconfield Court -Current condition
According to Evan Dryden of Dryden
Projects, the investment into Vannin
Court will be around R45 million, which
will also cover the cost of the temporary
accommodation offered. ‘The refurbished
buildings will feature a biometric access
control system and permanent hot water.
Environmental
considerations
were
crucial in the tender process, to save on
energy and water, and to use materials and
resources responsibly. So all sanitary ware
will comply with low flow rates, and there
will be dual-flush toilets throughout,’ he
says.
Beaconfield Court -Current condition
Helen Grange