city park hospital, Major redevelopment of City Park hospital being planned, Rabie.co.za

Major redevelopment of City Park hospital being planned

Rabie Property Group is joining forces with listed property Group Ingenuity Property Investments to redevelop the old Christiaan Barnard Hospital in the heart of the CBD into a spectacular mixed use development.

Rabie director John Chapman says the opportunity to acquire the building which comprises an entire city block for R300million arose with the relocation of the hospital to the Foreshore.

“The property’s location on Bree and Loop streets overlooking Heritage Square is prime and the redevelopment presents an opportunity to transform what is arguably the ugliest building in the city into a beautiful, iconic landmark mixed use development.

“The property includes around 1000 parking bays which is a huge attraction given the CBD’s parking shortage and the fact that the City is only approving low parking ratios on new buildings to encourage people to use public transport to relieve traffic congestion.”

It is expected Rabie and Ingenuity will take transfer of the property in July this year.

He said while still in an exploratory conceptual stage, the redevelopment would create retail on the ground floor that talked to the street, retain the eight levels of parking, covert the old hospital into offices and add additional floors to create residential apartments that are guaranteed to have stunning views.

“We have to follow due process with the Council so we are some time off getting this out of the starting blocks but it is an extremely exciting opportunity,”said Chapman.

Watch this space, this ugly duckling is set become a spectacular Swan.

 

 

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