Project Name: Strubens Residence
Address: 973 Geldenhuys Street, Strubens Valley
Project Date: March 2020
Status: On-Sale In Process
We were first contacted by the owner of this property at the end of 2019. The property had been a problem for many years in the area. It was a known drug haven and many illegal occupants had been staying there for some time. They had racked up huge municipal bills and caused major damages to the property. Many of the other home owners in the area previously tried to buy the property in order to find a solution to the problem, however they were largely unsuccessful in trying to do so as this property needed objective experts to come in and save the day.
We analyzed the issues at hand and managed to find a solution that worked for us and the owner, that allowed him to sell the property to us privately and discreetly, without judgement. Once a deal had been struck, we were able to negotiate with the illegal occupants to have them leave the site within a reasonable notice period that allowed them to find alternative accommodation. Immediately after the property became vacant we moved in and started with the renovations.
We made great progress in about 3 weeks, and were able to get 90% of the project complete before the country went into Lockdown. At this point, we had to stop works, however we were able to resume once Lockdown regulations were eased. Before the works were complete, we started digitally marketing the property for sale during the lockdown period and we got five offers on the table without any of the interested buyers having yet viewed the property which was a testament to the great work we did on the renovations.
We were able to sell this property 15% above asking price due to the large demand it created and it is going to be the new home of a wonderful young couple. We have been thanked numerous amounts of times by the owners in the area for helping uplift the community and make it a better place for all. This project is one of the true gems in the KOURO portfolio.