Shortly after the acquisition a lease for the entire property was concluded with Main Street Holdings the holding company of New Just Fun Group, Sunpac and New Wechsler. The total GLA of the property is over 3,000m2 and will house the tenants’ new offices and showrooms.
Over R3 million will be spent on improving the building to suit tenants’ requirements. Justin Blend of Africrest comments that “It is very fulfilling acquiring a building and improving it to an extent that it has a positive impact on the surrounding areas”.
“We are very excited to make this new building our home as we feel that having all our companies under one roof will bring tremendous benefits to the business” says Shaun Laffer of Main Street.
Nick Katsapas of Africrest Properties states that “it has been wonderful working with the Main Street Group to identify a location from which they can grow and operate their already successful business”.
The tenants desire to consolidate the different operating divisions in Wynberg is a testament to the value and convenience that this area offers being so close to the highway on/off ramp as well as the Sandton CBD.
