This property has quite the story behind it. We were first made aware of the property through a referral who contacted us via one of our advertising billboards.

Unfortunately the property was previously rented out to a law firm who did not pay their rents, utility bills and ended up trashing parts of the property. The main director of the company who owned the property passed away and it was left to his heirs to try and sell or revive the property.

Due to the circumstances of the property, it fell in arrears with the bank, who in turn had to approve the sale of the property. After two years of negotiations with the bank, mixed in with delays of the COVID pandemic, the property was finally transferred to us for R1.1M which is over 50% below market value.

We began our Phase 1 renovation works of the property In June 2021. Our plan was to develop the property into a multi-let property consisting of 5 units off which 3 units would be developed in Phase 1 renovations and the further 2 units in Phase 2.

We were able to finish Phase 1 of the renovations and completely transform the property with modern finishes and a breath of fresh air. Consisting of three 2 Bedroom 1 bathroom garden units, the property is now fully leased.

We are also looking to begin renovations on Phase 2 of the property in 2022 to further enhance and improve the property.