Africrest Roars Proud With Its Latest Office To Residential Conversion - ‘The Leo’

Posted On Monday, 29 April 2019 08:18 Published by
Rate this item
(3 votes)

This month, Africrest Properties opened their latest residential conversion project up for leasing and the first tenants have started moving in.

 -THE-LEO-

The building, now known as ‘The Leo’, was once the head office of Investec Bank. The building was sold many times over and several years later it had fallen into a state of disrepair. After a lot of hard work the building now consists of beautiful bachelor, one and two bedroom apartments. Strategically located between the ABSA and Maboneng Precincts, the apartments will appeal to people who want to live close to their work and have an ideal home with modern fixtures at a very affordable rental ranging from R1,900 to R5,500 per month.

-PIC-01-

Africrest formed a joint venture with the owners of the building and completed phase one which consists of 232 apartments.  Phase two is set to begin next month and will consist of an additional 260 apartments. To date the project has given work to over 110 construction workers. Another noteworthy point is the revitalization of this building falls in line with Mayor Herman Mashaba’s objectives to improve the inner city

-PIC-02-

‘We try to give our tenants a community feel with as many wonderful perks as possible, some of them include- 10 GBs free Wi-Fi per month, a ‘hotel-style’ lobby, a gym, a soccer court, jungle gym and braai facilities on the roof’ commented Greg Blend, of Africrest Properties.

-PIC-03-
This development follows the successful development and leasing campaigns of the Village in Bramley; The Landmark and 360 Kent in Randburg.

The Leo continues Africrest’s path to become one of the largest middle-income landlords in Johannesburg. Grant Friedman of Africrest Properties stated ‘Africrest has a very good pipeline of zoned and un-zoned commercial properties that we are looking forward to converting to apartments over the next two years. We aim to give people quality housing, that they can be proud of, located close by to where they work. We believe that this will change our tenants’ lives for the better’.

Last modified on Monday, 20 May 2019 10:08

Most Popular

Fairvest to become fourth property company to list on A2X

Oct 30, 2019
DARREN WILDER
Fairvest Property Holdings, a real estate investment trust with a market cap of R2…

Anuva Investments launch Section 12J hospitality fund with property partners Flyt Property Investment

Oct 18, 2019
Zane De Decker HR
Investment into Section 12J venture capital vehicles has seen a huge uptake over the last…

Property market ready for take-off as bond grants rise

Oct 18, 2019
BetterBonds Mortgage Monitor
Housing demand has continued to gain momentum since the start of the year and in the…

Equites Property Fund Interim Results

Oct 18, 2019
Andrea Taverna Turisan CEO Equites Property Fund
Equites Property Fund Limited (Equites) today announced distributable earnings for the…

Significant shifts in the Winelands commercial sector

Oct 18, 2019
Caption Somerset West commercial
A decade of corporate semigration and decentralisation fuelled the Winelands commercial…

Please publish modules in offcanvas position.