The redevelopment of a well-known Heritage building on Old Searle Street is envisaged to become a landmark in the area, this according to its developer Vestacor Properties. The mixed-use development in Woodstock, to be named 10 on Searle, will encompass a mix of retail, office, and upmarket residential space.
The three residential floors, containing 15 properties, will be added to the existing building and is already available for purchase through Gail Gavrill of Tyson Properties Sea Point.
According to Gavril, Vestacor Properties is known for their innovative products in the form of mixed-use development, heritage site restorations, and site-use conversions. She adds that this knowledge will be incorporated in the development of 10 on Searle, where the abundant terrace space is a product of accommodating the Heritage specifications of redevelopment of the building. Gavril also revealed that the architect responsible for the 10 on Searle development, Michale Dennett of DV8 Architects, were carefully chosen based on their philosophy that architectural design should not “be safe, stagnant, or sterile.”
The residential units for sale are two bedroom two bathroom sectional title apartments. There will be five units per floor, ranging in price from R2,765m to R4,77m. Gavril said that the units will be popular amongst investors as well as young professional owner-occupiers due to the direction in which Woodstock is developing, creating a vibrant urban chic feel and look, different from the CBD while still being close cities and main routes to the airport. “Anyone who buys in here will get good capital appreciation, almost guaranteed because of the demand here,” Gavril said.
Photo: An artist’s impression of the residential units at 10 on Searle