The eThekwini Municipality has provided long-term lease and redevelopment rights for the well-known beachfront site at 137 Marine Parade, popularly known as ‘Joe Cools’, to Imvusa Trading.

Located along the North Beach promenade in Durban and featuring a range of Famous Brands quick-service restaurants and other outlets, the property is slated for a major renovation projected to cost as much as R75 million.

Imvusa, under the leadership of experienced engineering technician Bonga Sibiya, will spearhead the redevelopment under a new 45-year lease agreement.

This project is part of the municipality’s Proactive Land Release Strategy, initiated in response to a request issued in November 2023.

According to the municipality, “The redevelopment aligns with the Municipality’s Inner-City Local Area Plan, aimed at protecting and enhancing the beachfront as a key tourism draw.”

National brands within the Famous Brands portfolio, including Wimpy, Steers, Fishaways, and Milky Lane, will remain as tenants.

A new Mugg & Bean restaurant will also be introduced, with further tenants expected to be announced as the project progresses.

eThekwini Mayor Cyril Xaba expressed optimism about the project’s benefits, emphasizing the municipality’s commitment to preserving all existing jobs while forecasting the generation of additional employment opportunities, especially since the new building will be 68% larger than the existing one.

Read/listen:
eThekwini’s lost water crisis
Déjà vu at Durban beaches: E. coli forces closures
Sell your city: eThekwini’s real estate head Thapelo Mmusinyane

The property will continue to operate throughout the holiday season, with construction anticipated to begin after the Easter holidays in 2025, subject to necessary approvals. Approximately 80 jobs are expected to be created during the construction phase.

The municipality also announced progress on the redevelopment of the former ‘Funworld’ site, with further details to be provided soon.

“This redevelopment plays a crucial role in achieving the Municipality’s ambition of creating a vibrant and flourishing beachfront for residents and visitors alike,” Xaba remarked.

Read: Southern Sun ‘the only bidder for Durban’s Elangeni & Maharani Hotel lease’

Stay updated with Moneyweb’s extensive finance and business news on WhatsApp here.