Residential tower project on track
2006-07-13
THE redevelopment of Paarl’s tallest building, the 13-storey former Nedbank building into the residential Lady Grey Tower, is on fast track.
The building, formerly the head office of BoE Bank at the corner of Main and Lady Grey Street, had been standing virtually empty since BoE Bank was taken over by Nedcor.
From the second floor up, the building is being converted into 70 luxury residential units varying from student to three bedrooms - with probably the best view in Paarl.
The building is being redeveloped by a consortium known as One Vision Investments and construction work is done by Fulloutput Project Managers - designed by Pieter Van Oudtshoorn.
A number of units have nearly been completed, while work on the rest continues. The work included extensive core drilling to install sufficient services such as water and electricity to each unit.
Entrance to the residences will be served by a concierge desk with total privacy and security.
Reception will be linked to every unit by intercom and CCTV and all units will have parkade parking.
The air-conditioned interiors will be lavishly finished for an elegant lifestyle, with cherrywood panels, marble, granite, travertine and superior carpets.
The kitchen comes fully equipped with stainless steel appliances including stove, fridge, washing machine and drier as well as an extractor fan. The imposing bathrooms have travertine walls and floors.
Part of the first floor will offer a lifestyle centre with sauna and gym as well as entertainment facilities.
Other sections of the building on the ground floor, first and second floor, are being converted for office and retail purposes. A hair salon is already operating on the first floor.
All residential units have been sold, with the exception of six larger two-bedroom units of about 75 square metres each. They are available for under R900 000 including VAT and transfer costs.
The levy will be calculated at about R10 per square metre per month.
According to a spokesperson for the developers, Pieter van Oudtshoorn, the current parking allows for one car per unit, but an additional parking level is to be constructed in the courtyard of the building, increasing the parking ratio.
The first residents are expected to move in by 1 October. For enquiries, contact Fountain Properties on 976-2366.
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