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

Attacq Ltd and Tricolt break ground on Ellipse Waterfall

Aug 30, 2019
 13 2
Today Attacq Ltd the JSE listed REIT developing Waterfall City, and Waterfall Logistics…

Eris Property Group appoints successive CEO Barend de Loor

Aug 30, 2019
 BAREND DE LOOR
Eris Property Group has appointed a new Chief Executive Officer (CEO). Barend de Loor…

Tshwane Regional Mall Grand Opening date set

Aug 31, 2019
  TSHWANE REGIONAL  MALL
24th October 2019, the long-awaited day earmarked for the grand opening of Tshwane…

Cap Rates and Property Values - Is it time for a more significant move?

Aug 19, 2019
FNB John Loos
A few months on from the May general election, a somber mood is once again settling in in…

Eleven new retailers including clicks at morningside shopping centre

Aug 19, 2019
 MORNINGSIDE SHOPPING CENTRE 1
Known for the finest in convenience shopping and its chic and stylish mix of local and…

Please publish modules in offcanvas position.