Landmark Cape Town CBD buildings are undergoing massive renovations as more top companies look for office space in the city centre.
Two landmark CBD buildings to be affected by this transformation are Atterbury House and Wesbank House. Both recently changed hands and underwent major refurbishments, signalling the confidence of their owners and tenants in the rejuvenated central business district, says Martin Rippon, regional general manager of Eris Property Group.
These two CBD beacons are both managed by Eris, and Rippon says the CBD’s regeneration is attracting a wide range of tenants to the city.
The buildings concerned are just two examples of the rejuvenation of Cape Town’s CBD, which has seen ongoing transformation in the past two years, ensuring that the city centre remains Cape Town’s premier business and government node. Although transport and security have been significantly enhanced, the CBD’s biggest plus is its “atmosphere.”
Atterbury House, which recently had a multi-million rand facelift, was previously Shell House, a well-known landmark on the Cape Town horizon. It has 25 000 m2 of space on 25 floors, and is estimated to be worth about R350 million.
Wesbank, named for its major tenant, the vehicle finance giant, is a six-floor building, worth about R176m. Its refurbishment has cost R12million.
“At Atterbury House, we moved the entire foyer, put in a range of retail outlets and converted the old podium deck onto St George’s into parking,” Rippon says. Each floor was upgraded and revamped into prime CBD offices.
“The rationale behind the revamp was to ensure that the end product was a top-grade offering at competitive and comparative rentals, and that sufficient parking, with an allocation of 2.3 bays a 100 m2, could be made available.”
The Metropolitan Health Group occupied four floors in 2009, and has said it may be interested in more. The Department of Education occupies three floors, the Department of Mineral and Energy Affairs two and the Premier’s office one.
Two restaurants, a retail shop on the ground floor on Riebeek Street, and immediate access to St George’s Mall and the Fan Walk are key attractions for tenants of the building. Spectacular views can be enjoyed from each floor in a building known as one of the tallest in the city.
Rippon says Shell wanted bigger, more open plan floors, which is why the company left the building. However, the company did not leave the city centre.
“It’s an encouraging sign for the CBD that Shell remains in the city centre, as do two other big former Atterbury House tenants, Accenture and SA Eagle,” he says.
Meanwhile, Wesbank, which underwent a R12m upgrade, has as its major tenants WesBank and the Department of Labour.
Rippon says the Wesbank upgrade included new building management systems, a complete revamp of the air-conditioning system, in line with green principles, and a new lift system. The building now has a 93% occupancy.
“In both cases, the money the landlords have spent on renovation is a clear signal of their confidence in the future of the CBD, which has undergone enormous transformation in recent years and is now a wonderful place to be,” says Rippon.
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