Alfred Street“Gateway to the Atlantic Seaboard”

PROVINCIAL REGENERATION PROGRAMMEINVESTOR CONFERENCE

26 March 2014

Alfred Street Gateway to the Atlantic Seaboard

Contents

• Location• Opportunity• The Prestwich Precinct• Context• Zoning• Building Condition • Bulk Services• Accessibility• Heritage and Environment• Urban Design Framework• Summary

Alfred Street Gateway to the Atlantic Seaboard

Alfred Street Gateway to the Atlantic Seaboard

Location and Context

• Situated between Prestwich, Chiappini, Hospital and Alfred Streets

• Forms part of the Prestwich Precinct

• The precinct is a highly sought after location for commercial and residential investment

Alfred Street Gateway to the Atlantic Seaboard

Opportunity• Within walking distance of

the CBD, the V&A Waterfront, the Cape Town Stadium, shopping centres and restaurants

• Recent developments include:1. Cape Quarter2. Victoria Junction3. The Foundry4. The Rockwell5. Metropolis

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45

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Alfred Street Gateway to the Atlantic Seaboard

The Prestwich Precinct

Alfred Street Gateway to the Atlantic Seaboard

Context

• Four individual blocks built in 1953, a maximum height of 6 storeys and 47,700m2 GBA

• One level of underground parking under Alfred and Hospital Street blocks

• Three of the buildings have extensive reinforced foundations and structures for carrying heavy loads

• Coverage100% of the site

Alfred Street Gateway to the Atlantic Seaboard

ContextCurrently occupied by:• SAPS – tenants – relocating in

3 years• Cape Medical Depot• WCG General stores • Library ServicesA phased development proposed over 5-10 years

Alfred Street Gateway to the Atlantic Seaboard

Zoning• 2012 Zoning Regulations

• 64,925m2 bulk • Mixed Use MU3

• 1990 Zoning Regulations• 62,805m2 bulk• Commercial C4

• Maximum height increased from 25m to 35m in 2012 Zoning Regulations

V&A

CBD

Alfred Street Gateway to the Atlantic Seaboard

Building Condition and Bulk Services

• Buildings are in good condition according to a survey conducted in 2012

• A 2013 investigation found that there are no constraints to bulk infrastructure

Alfred Street Gateway to the Atlantic Seaboard

Accessibility• Easy walking distance to 9

MyCiti bus stations on 5 routes

• High demand for parking during the day in the precinct

• A potential development could provide shared parking for tenants and day parkers

Alfred Street Gateway to the Atlantic Seaboard

Heritage and Environment

• The precinct does not fall within a designated conservation area

• The original Somerset Hospital was built on the site in 1820 and was used as a hospital for 110 years

• There are three Graded heritage buildings in close proximity

Alfred Street Gateway to the Atlantic Seaboard

Heritage and Environment

• Archaeological trial excavations indicate that there is very low risk of finding human remains

• The Alfred Street buildings are older than 60 years and a NID application is required

• No EIA required

Alfred Street Gateway to the Atlantic Seaboard

Urban Design Framework

• Promote a vibrant public realm

• Activate ground floor interfaces

• Locate main pedestrian entrances on streets

• Design buildings to ‘front’ onto streets

• Promote safe streets• Recognise historical

significance

Alfred Street Gateway to the Atlantic Seaboard

Urban Design Framework• Prioritise pedestrians and

non-motorised transport. • Landscaped streets• Convert existing internal

courtyard spaces

Alfred Street Gateway to the Atlantic Seaboard

Urban Design Framework

• Part of a proposed Heritage Walk and a pedestrian link between Somerset Road and the V&A Waterfront

• The existing facades should be opened up to interface with pedestrians

• Development Potential:• 46,000m2 residential• 8,500m2 retail• 3,600 parking

Alfred Street Gateway to the Atlantic Seaboard

Summary

• Centrally located• Close to public transport• Excellent investment potential• Ideal for mixed use development• Future urban design will improve streetscape• Future opportunities for developments in the precinct

Thank You