Located in Selby, Johannesburg, in close proximity to the banking sector of the southern Johannesburg CBD, Centro City is a mixed-use building comprising mainly office space with some retail outlets below. This property is managed by JHI Properties on behalf of Arrowhead Properties.
Managing a portfolio of assets on behalf of property funds and investors which currently stands at a total value of R52 billion and represents approximately 2 000 properties, JHI Properties was recently awarded the management contract for additional properties recently acquired by the Arrowhead Property Fund.
Comments Louis Boshoff, who is director, property management for JHI Properties nationally in South Africa as well as in Namibia and Lesotho: “Following Arrowhead Property Fund’s recent acquisition of some 75 632 square metres of quality property investments into their portfolio, JHI Properties now manages a total of 112 buildings nationally on behalf of this fund, of which 63 are managed by our Gauteng region.”
Arrowhead’s newly acquired properties include office, retail industrial and mixed-use developments in Gauteng, the Eastern Cape, North West Province and Western Cape. Says Boshoff: “The fund’s portfolio has grown significantly to the extent that Arrowhead now has an even greater presence in all three sectors, namely commercial (offices), industrial and retail. The retail centres are strong and well-established in the marketplace, and a number of the newly acquired properties have undergone a recent revamp and upgrade.
“The bulk of the Arrowhead buildings are managed from JHI’s Gauteng office. Managed properties located in the adjacent provinces of Limpopo and Mpumalanga are directly served by our offices in Nelspruit and Polokwane, and together with North West Province, these also fall under the overall responsibility of our Gauteng region.”
Boshoff says growth and unlocking additional value from these acquisitions will be the primary aim of both Arrowhead and JHI. “These acquisitions are quality and income enhancing to Arrowhead’s existing portfolio. A number of the new buildings fall within niche markets, which in some instances requires a targeted and differentiated approach to effective property management.
“Through intensive and competitive marketing strategies created and implemented by both JHI and Arrowhead and as the buildings are uniquely placed, the letting of space has been achievable despite the prevailing challenging economic trading conditions. Our innovative approach has also assisted us in reducing the small pockets of vacancies.”
He says there are opportunities within the remaining vacant space for SMEs (small and medium enterprises) and national tenants to capitalise on. “These present opportunities to open up markets to which they currently do not have exposure, which will also allow for the growth and expansion of their businesses.
“Encouragingly we are seeing a sound take-up of space in our retail centres, which includes an appetite for retail space among the banks,” says Boshoff.
A management contract with special requirements was recently awarded to JHI Properties by San Sereno Retirement Village, comprising 168 cottages, 48 apartments and 108 beds in the care centre, which is owned by Anson Holdings, a subsidiary of Sanlam Life. Situated in the suburb of Mill Hill in Bryanston, JHI has an experienced on site management team. The units at San Sereno are currently under refurbishment by Excellerate Facilities Management, a sister company of JHI Properties which is also a subsidiary of Excellerate Property Services.
For further information contact Louis Boshoff of JHI Properties on 011 9118000 or email info@jhi.co.za.
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