The eThekwini Municipality has approved long-term lease and redevelopment rights for the renowned beachfront property at 137 Marine Parade, popularly known as ‘Joe Cools’, to Imvusa Trading.
Located along Durban’s North Beach promenade and featuring a range of Famous Brands quick-service restaurants and other outlets, the site is set to experience a major renovation estimated at up to R75 million.
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Imvusa, spearheaded by experienced engineering technician Bonga Sibiya, will oversee the redevelopment under a new lease agreement lasting 45 years.
This project forms part of the municipality’s Proactive Land Release Strategy, which solicited proposals via a request issued in November 2023.
According to the municipality, “The redevelopment aligns with the Municipality’s Inner-City Local Area Plan, which aims to protect and enhance the beachfront as an essential tourism draw.”
National brands within the Famous Brands portfolio – including Wimpy, Steers, Fishaways, and Milky Lane – will maintain their operations as tenants.
A new Mugg & Bean restaurant is set to be introduced, with more tenants to be announced as the project progresses.
eThekwini Mayor Cyril Xaba expressed strong confidence in the project’s benefits, emphasizing the municipality’s commitment to preserving all current jobs while also forecasting the creation of additional employment opportunities, given that the new structure will be 68% larger than the existing one.
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The property will remain operational throughout the holiday season, with construction expected to begin after the Easter holidays in 2025, pending necessary approvals. It is projected that around 80 jobs will be created during the construction phase.
The municipality also confirmed progress regarding the redevelopment of the former ‘Funworld’ site, with further details to be shared soon.
“This redevelopment greatly contributes to achieving the Municipality’s objective of creating a vibrant and thriving beachfront for both residents and visitors,” Xaba remarked.
Read: Southern Sun ‘the only bidder for Durban’s Elangeni & Maharani Hotel lease’
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