Wynberg flourishes as another building is upgraded at the hands of Africrest Properties And Thirst Bar Service

Posted On Monday, 04 July 2016 11:30 Published by
Rate this item
(1 Vote)

Africrest Properties is known for their value add investing and a few years ago took a positive view on the area Wynberg (Gauteng) and has continued to purchase buildings in the area.

Thirst_Interior

They have just taken transfer and completely refurbished their 4th building in the area- 12 Chadwick Avenue.

The anchor tenant in the building is Thirst- the mobile bar tender, bar consultancy and bar training company.

Clyde Ackerman the joint MD of Thirst stated “it was very difficult to find a property in a good area that catered to our demanding requirements. Our new headquarters make the business operations that much easier and more practical. The new building allows us to showcase our offices to our clients with pride”.

“Our relationship with Africrest has been excellent and they really came to the party in helping us fulfil our needs. Africrest were very easy going and offered a lot of very useful advice” comments Rael Lasarow joint MD of Thirst.

Africrest believe that the area is excellent from a transport point of view as it is located very close to the highway and only a handful of kilometres from the Sandton CBD. The building was completely refurbished and now has a modern industrial look and feel.

Justin Blend of Africrest states that “this addition to the Africrest portfolio helps add another building with a good tenant profile and a strong working relationship with the tenant. We continue to look for value add acquisitions”.

Nick Katsapas of Africrest Properties comments that “we have recently launched a program to joint venture with tenants who want to purchase their own commercial building and to date this has been very successful”.

Last modified on Monday, 04 July 2016 11:44

Most Popular

Spear REIT Limited delivers double digit growth despite tough economic environment

May 17, 2019
 QUITIN ROSS
“Spear has delivered distribution growth of 10,09% in a very tough economic environment.…

Izandla Property Fund celebrates completion and opening of its first development project

May 17, 2019
 SASOL OPENING
Izandla Property Fund announced the completion of the development of a new logistics…

Emira adds another two shopping centres to its USA retail property portfolio

May 17, 2019
 GEOFF JENNETT
Emira Property Fund has made two further equity investments into grocery-anchored…

Landmark foreshore building in Cape Town to become iconic mixed-use high-rise

May 17, 2019
FORESHORE PLACE
South Africa, Cape Town; An iconic 70’s high-rise in Cape Town’s downtown financial…

Alexander Swart Property Group: Cape Town’s Residential Property Values still the best in SA

May 25, 2019
 BBA 1
A survey recently carried out by the respected property analysts, Lightstone, has…

Please publish modules in offcanvas position.