Africrest Properties undertakes R3m renovation for new tenant in Wynberg

Posted On Monday, 24 June 2013 10:45 Published by Commercial Property News
Rate this item
(0 votes)

Africrest Properties concludes acquisition and subsequent leasing office and showroom space in Wynberg. 

6th Street WynbergShortly after the acquisition a lease for the entire property was concluded with Main Street Holdings the holding company of New Just Fun Group, Sunpac and New Wechsler. The total GLA of the property is over 3,000m2 and will house the tenants’ new offices and showrooms.

Over R3 million will be spent on improving the building to suit tenants’ requirements. Justin Blend of Africrest comments that “It is very fulfilling acquiring a building and improving it to an extent that it has a positive impact on the surrounding areas”.

 “We are very excited to make this new building our home as we feel that having all our companies under one roof will bring tremendous benefits to the business” says Shaun Laffer of Main Street.

Nick Katsapas of Africrest Properties states that “it has been wonderful working with the Main Street Group to identify a location from which they can grow and operate their already successful business”.

The tenants desire to consolidate the different operating divisions in Wynberg is a testament to the value and convenience that this area offers being so close to the highway on/off ramp as well as the Sandton CBD.

Most Popular

Rebosis Property Fund retail portfolio delivers excellent operational performance despite a tough market

Nov 11, 2019
Sisa Ngebulana REBOSIS
Rebosis Property Fund, the JSE’s first listed black-managed REIT, today reported its…

Massive property auction on behalf of Telkom

Nov 11, 2019
Agricultural Land Beaufort West
GoIndustry DoveBid SA (GoIndustry) is hosting a massive property auction on behalf of…

African Union for Housing Finance (AUHF) Cape Town declaration provides 5 point plan for african governments to address housing finance shortage

Nov 14, 2019
African Union of Housing Finance
Following the successful completion of their 35th Annual Conference, the members of the…

10 SA REITs are among South Africa’s top listed companies

Nov 15, 2019
Estienne de Klerk SA REIT Chairman
South African REITs (real estate investment trusts) have once again excelled among the…

Balwin Properties Limited marks success of Sub-Saharan Africa’s only Crystal Lagoons amenity

Nov 11, 2019
DJI copy
Balwin Properties Limited (Balwin) in conjunction with Crystal Lagoons B.V. (Crystal…

Please publish modules in offcanvas position.