eThekwini Municipality has granted a 45-year lease to a developer for the major refurbishment of its ‘Joe Cools’ property (Erf 12281 Durban) located at 137 Marine Parade following its RFP process issued in November 2023.
The municipality says the redevelopment aligns with its Inner-City Local Area Plan which emphasises protecting and enhancing the beachfront as a key tourism asset.
The building’s current national tenants, under the Famous Brands umbrella, will remain on site with additional tenants to be confirmed as construction progresses.
Details of the construction timeline will be announced with the property remaining operational during the 2024 festive season. Construction is anticipated to commence post the Easter 2025 holiday period, subject to necessary statutory approvals.
eThekwini Municipality has also finalised supply chain management processes for the redevelopment of the old ‘Funworld’ site with details to be announced.
