The unfairness comes, says Denton, because PE's modernisation can't progress as fast as Cape Town's or Durban's and he wants to improve his buildings at what he sees as an appropriate pace. It is poorer, has less new money coming into it and the overhead highway is "a huge challenge ". Upgrading buildings and, most important, providing parking would be a prohibitive cost with little chance of profit, Denton says.

He has tried upgrading his properties, for instance a 15-flat unit for student accommodation. "But I was too far ahead of my time," he adds. "We have to move more slowly. People with a European background complain about the deterioration of the city, but they don't understand that most residents are students who can't afford high rents. These Victorian buildings don't have gardens or parking. I can't make the city competitive with other cities on my own."

Denton neither talks with the enthusiasm nor displays the vision of a property developer.

He agrees: "I'm not a developer or a visionary. I'm an investor."

He insists he has spent money upgrading his properties. The FM puts it to him that these were commercial properties in which investment would immediately enhance his cash flow and he concedes this.

Why doesn't he put his properties into partnerships with developers, who would almost certainly find profitable conversion of many of his properties? He could put in the land and they could provide the money and development expertise. They would also help him make a contribution to upgrading the city.

"As an investor, I am my own customer and answerable to myself," he responds. "I am reasonably confident I can solve the problems the city has with my properties and don't see the necessity to go into partnerships."

Despite his protestations it seems clear that Denton will resist any pressure on him to improve his properties beyond what he considers necessary. Denton is trying to woo PE politicians by announcing plans to turn part of the post office into a Steve Biko museum in time for the 30th anniversary of Biko's death and build a shrine in the Sanlam building, where Biko was tortured.

It's difficult to see how PE will successfully upgrade its historic urban fabric, a key to the city's growth, while he remains a property owner.