Featured Releases:
Commerical:
Developments:
Advice:
Newsletters:
Archive Press Releases:
Find an article
Browse articles:
- 2009
- 2010
- 2011
140 new rental apartments for Randburg
Posted: 7th June 2011
More than 140 new rental accommodation units in two different developments are set to come onto the market in Randburg in the coming months, attempting to meet the demand for quality apartments in the business district.
A new five-storey development called Trade Winds located in the Republic Road area will offer 85 one-bedroom and studio units ranging in size from 35sqm to 54sqm. The development includes lifts, basement parking, a club house and pool facilities.
Construction is in progress and the apartments are expected to be ready for occupation by September this year.
In addition to Trade Winds, a further 56 units are being developed on nearby Kent Road, with occupation expected by February 2012. The four-storey development’s apartments are two bedroom, one bathroom units of 45sqm, with a focus on secure lifestyle living.
The 141 units in Trade Winds and Kent Road were purchased by global equity funder International Housing Solutions (IHS), with the intention to address the shortage of well-priced, secure and quality living spaces in Randburg.
IHS has a track record as a leading provider of affordable housing in South Africa and plans to extend its reach into the rest of Africa with future funds.
Trade Winds represents the first of a series of properties that IHS’s R1,9-billion strong South African Workforce Housing Fund will own in a wholly-owned residential fund, with the asset Management done internally by IHS's team of asset managers.
“IHS got involved in this project after identifying the massive demand and shortage of good quality accommodation in the area,” says IHS Country Director Rob Wesselo.
Wesselo says the developments are expected to be hugely successful because of their superb location close to large corporates such as MultiChoice and Sasol, and because of the strong track record of the developer, Space Developments.
“They are made up of two reputable and successful players in the housing market in South
Africa, Renprop and Probuild, and we hope to do many more transactions with them.
“The nature of the development means that it will provide secure and competitively priced accommodation in an area where there is a shortage of this kind of supply,” says Wesselo.
A new five-storey development called Trade Winds located in the Republic Road area will offer 85 one-bedroom and studio units ranging in size from 35sqm to 54sqm. The development includes lifts, basement parking, a club house and pool facilities.
Construction is in progress and the apartments are expected to be ready for occupation by September this year.
In addition to Trade Winds, a further 56 units are being developed on nearby Kent Road, with occupation expected by February 2012. The four-storey development’s apartments are two bedroom, one bathroom units of 45sqm, with a focus on secure lifestyle living.
The 141 units in Trade Winds and Kent Road were purchased by global equity funder International Housing Solutions (IHS), with the intention to address the shortage of well-priced, secure and quality living spaces in Randburg.
IHS has a track record as a leading provider of affordable housing in South Africa and plans to extend its reach into the rest of Africa with future funds.
Trade Winds represents the first of a series of properties that IHS’s R1,9-billion strong South African Workforce Housing Fund will own in a wholly-owned residential fund, with the asset Management done internally by IHS's team of asset managers.
“IHS got involved in this project after identifying the massive demand and shortage of good quality accommodation in the area,” says IHS Country Director Rob Wesselo.
Wesselo says the developments are expected to be hugely successful because of their superb location close to large corporates such as MultiChoice and Sasol, and because of the strong track record of the developer, Space Developments.
“They are made up of two reputable and successful players in the housing market in South
Africa, Renprop and Probuild, and we hope to do many more transactions with them.
“The nature of the development means that it will provide secure and competitively priced accommodation in an area where there is a shortage of this kind of supply,” says Wesselo.
Posted by: Renprop Residential
