Jakes1
October 3rd, 2007, 09:39 AM
Name: Stratosphere
Developer: Afhco
Floors: 13
Units: 117
Refurbishment underway
Completion date: 2009
Braamies is really warming up. Someone should also get some pics of the broadway - it looks really amazing now that the paint is going on.
Unused Jhb CBD buildings revamped
2007/10/02
Innovative developers in the Johannesburg CBD and its surrounding areas are giving old unused office buildings a new lease of life.
In the latest conversion in Braamfontein, The Stratosphere, a plush all-encompassing lifestyle package is offered at a relatively reasonable price.
The package entails a compact unit which is designed with luxurious finishes, while underfloor heating, a washing machine and tumble drier combination, fridge, plasma-screen TV, microwave, and Internet access come standard in every unit.
Hence, the buyer or tenant can move in without any large expenses to furnish the unit.
The Stratosphere, across from the Civic Centre in Jorissen Street, is developed by Afhco, who have been developing and managing affordable housing in the CBD and its surrounding areas for the last 14 years. Afhco is a private company in which Old Mutual has a 50% interest.
Wayne Plit, CEO of Afhco, says the full lifestyle package is a new concept in Braamfontein and is largely aimed at the rich and famous. He says it is aimed at, amongst others, young modern couples or singles working in Braamfontein and investors in the buy-to-let market.
The 13-storey building offers 117 luxurious units, which comprise studio and one-bedroom apartments. The price of a studio unit spanning 37sq m starts at R450k and one-bedroom units covering 55,5sq m sell at R955k. To ensure the unit is yours a deposit of R15k is required. There are nine units on each floor, of which five are north-facing and four south-facing.
Kevin Fine, director of Altec Projects, the sales and marketing team for Stratosphere, says 25 units were sold during the launch over the weekend. Half of these buyers are investors and the other half owners/occupiers. He estimates that the expected rent for a studio unit will be between R3k and R3,500.
The building will include a gym and Plit says negotiations are underway with a coffee shop chain group for space on the ground floor.
He says Afhco acquired the office building a while ago and two options are being investigated: to either retain it as a commercial building or to convert it into residential units. He says the residential market in the CBD and the surrounding areas are enjoying a wave of prosperity, which is driven by an urban lifestyle with people wanting to live near their workplaces.
The units will be ready for occupation in 2009 and will be managed by Afhco. – Elma Kloppers, Sake24
Developer: Afhco
Floors: 13
Units: 117
Refurbishment underway
Completion date: 2009
Braamies is really warming up. Someone should also get some pics of the broadway - it looks really amazing now that the paint is going on.
Unused Jhb CBD buildings revamped
2007/10/02
Innovative developers in the Johannesburg CBD and its surrounding areas are giving old unused office buildings a new lease of life.
In the latest conversion in Braamfontein, The Stratosphere, a plush all-encompassing lifestyle package is offered at a relatively reasonable price.
The package entails a compact unit which is designed with luxurious finishes, while underfloor heating, a washing machine and tumble drier combination, fridge, plasma-screen TV, microwave, and Internet access come standard in every unit.
Hence, the buyer or tenant can move in without any large expenses to furnish the unit.
The Stratosphere, across from the Civic Centre in Jorissen Street, is developed by Afhco, who have been developing and managing affordable housing in the CBD and its surrounding areas for the last 14 years. Afhco is a private company in which Old Mutual has a 50% interest.
Wayne Plit, CEO of Afhco, says the full lifestyle package is a new concept in Braamfontein and is largely aimed at the rich and famous. He says it is aimed at, amongst others, young modern couples or singles working in Braamfontein and investors in the buy-to-let market.
The 13-storey building offers 117 luxurious units, which comprise studio and one-bedroom apartments. The price of a studio unit spanning 37sq m starts at R450k and one-bedroom units covering 55,5sq m sell at R955k. To ensure the unit is yours a deposit of R15k is required. There are nine units on each floor, of which five are north-facing and four south-facing.
Kevin Fine, director of Altec Projects, the sales and marketing team for Stratosphere, says 25 units were sold during the launch over the weekend. Half of these buyers are investors and the other half owners/occupiers. He estimates that the expected rent for a studio unit will be between R3k and R3,500.
The building will include a gym and Plit says negotiations are underway with a coffee shop chain group for space on the ground floor.
He says Afhco acquired the office building a while ago and two options are being investigated: to either retain it as a commercial building or to convert it into residential units. He says the residential market in the CBD and the surrounding areas are enjoying a wave of prosperity, which is driven by an urban lifestyle with people wanting to live near their workplaces.
The units will be ready for occupation in 2009 and will be managed by Afhco. – Elma Kloppers, Sake24