The historic Schubart Park to be Restored to Former Glory

The historic Schubart Park, which has fallen into disrepair over the years, is now set to undergo restoration following a …

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The historic Schubart Park, which has fallen into disrepair over the years, is now set to undergo restoration following a settlement with the developer.

Located on Vermeulen Street in the Pretoria CBD, the once-grand building has been an unsightly and abandoned structure for more than a decade, rendering its units worthless.

Fortunately, the Tshwane metro has recently reached an out-of-court settlement with Zambli 279 (Pty) Ltd/Tsoseletso Consortium, paving the way for the building’s revitalization.

The agreement was finalized in September 2022, with the intention of repurposing the building to accommodate the former tenants who were evicted in 2011. A social housing unit will be constructed within the building as part of this endeavor.

A council report estimates that Tshwane stands to generate over R500 million in rental income over the course of a 90-year lease agreement.

The refurbishment plans include the provision of housing units for the former residents or their family members, as mandated by a court order resolution.

Kingsley Wakelin, the MMC (Member of the Mayoral Committee) for Corporate and Shared Services, expressed the metro’s commitment to unlocking development opportunities within its borders through strategic property releases that will benefit the local residents.

In line with this objective, the metro has approved various property transactions aimed at promoting affordable inner-city housing and fostering mixed-use development, as part of the resolution of the Schubart Park matter.

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