They had got wind of the news that the Foschini chairman, Stanley Lewis, had had discussions with councillor Francois Oberholzer, and had reached a compromise. Foschini was prepared to cover the full cost of preservation, now at R320 000, while the council would relax the building line and provide a larger rates concession of 62,5 percent, equalling around R12 500 a year, without the condition of declaring the facades and clock tower a national monument.
Oberholzer stated that they had reached a "happy compromise".
"We are happy to subsidise their rates because by saving Markhams they are not using their property to its full potential."
Foschini's response was: "The decision was taken in recognition of the sentiments of the people of Johannesburg even though we believe the expense is disproportionate to our degree of responsibility."
Negotiations continued for another two weeks, and on 27 February it was agreed that there would be unconditional financial compensation of R150 000 by the council. The whole process had taken nine months.
There was an "unfortunate casualty" in the Markham story. The two-storey Starkees Building, a shoe store built in 1892 and therefore five years younger than Markham, was demolished. It too was owned by Foschini. The site was incorporated into Markham.
"The building died so Markhams could live," writes Ball.
Today, the building is looking a little neglected. Markham head office in Cape Town indicated that that it would in future be putting money into restoration, but declined to respond to emails and phone calls regarding a timetable for the work.
Benjamin sums it up well: "The architecture of an earlier age – quite as much as its paintings, its books, its clothing styles or household objects – tells us about its people: how they lived and thought and designed and diverted themselves.
"Old buildings, more than any museum exhibit, can still be used as part of a living city environment. They enrich it as a direct and functioning link with the past – even when it is a past as recent as Johannesburg's."