Trafalgar MD, Andrew Schaefer.
Urban regeneration company Propertuity has announced that it will partner with leading residential property management group Trafalgar to provide body corporate management services to several of its buildings in Maboneng.
Situated in the south-east corner of downtown Johannesburg, this iconic precinct has grown up around the converted industrial building Arts on Main over the past seven years, and now encompasses more than 40 mixed-use buildings offering a variety of commercial, retail and residential spaces within an integrated urban environment.
“Maboneng is leading the way in the renewal and redevelopment of Johannesburg’s inner city as a thriving, exciting and safe place to lead the new urban lifestyle that is increasingly sought-after by the Millennial generation, with workplaces, retail outlets and recreation options all right on the doorstep or at least within easy walking distance of home,” says Trafalgar MD Andrew Schaefer.
“To underline the strength of this demand, homebuyers and investors have snapped up hundreds of new apartments created here over the past few years, and continue to line up for units as soon as any new project is announced.
“For example, investors bought more than 100 apartments in the Main Street Life development as soon as it was launched in 2012, and more than 70 units have already been sold in the Hallmark House tower block redevelopment launched earlier this year, at prices ranging from R495 000 to around R3m for the penthouses.”
However, he says, specialist management is now obviously required to ensure that the residential component of Maboneng is properly run and maintained, so that the apartments and the buildings themselves continue to increase in value and continue to enhance the appeal of the area for both residents and investors.
“And we are very excited, as SA’s leading residential property management company with more than 60 000 units under management, to be able to provide the necessary expertise – and to be part of the transformation of SA’s inner cities going forward. Durban is next on our radar.”
Schaefer says the Propertuity buildings that Trafalgar will be helping to manage include Artisan Lofts, The Rocket Factory, Living MOAD, Hallmark House and Urban Fox. The services provided will include the preparation of budgets, levy collection and management and facilities management for the bodies corporate of these buildings, as well as a full letting and tenant management service for investor-owners.