As part of its ongoing commitment to the business and retail communities in which it operates, ApexHi Properties Limited is offering approved fledgling businesses, entrepreneurs, start-ups, trade unions and associated businesses, NGO’s and charity organisations six months rent-free in any of the vacant retail or office space in ApexHi buildings as part of its new Space-2-Go concept.
ApexHi CEO, Gerald Leissner, says tenants will only be accountable for operating costs such as electricity and water. “Once six months are up we would enter into a lease agreement with the tenant at 50% of the going rate and then, after 12 months, sign a lease agreement at the going rate,” he says.
ApexHi currently has some 237 properties worth R3,3-billion, with a gross lettable area of some 2-million square meters, spread across all nine provinces. The vacancy of the portfolio is currently 13%, and some 260,000m2 is available to the Space-2-Go concept.
Leissner says the Space-2-Go concept gives new businesses an opportunity to get their operations off the ground without the constraints of rental payments. “It will also assist in demystifying what being a tenant involves, through the use of uncomplicated lease agreements, soft rentals and easy terms,” he says.
The possibility of sharing business support services in office buildings, such as reception and telecommunication services will also be investigated to help formalise their work environment and present a more professional image.
The upside for ApexHi will be to fill vacant space, attract potential new loyal tenants and contribute to urban renewal in the country’s CBD’s.
ApexHi does not earn income from the vacant space in the buildings it owns. This means that the leasing of any new space creates performance benefits to the portfolio as a whole which consequently benefits investors. “We may as well put the space to good use, with the long term aim of retaining these tenants once their businesses are up and running,” he says.
Leissner says Space-2-Go is also a corporate citizenship initiative for ApexHi. “It is an opportunity for us to encourage entrepreneurial initiatives and contribute to the development of a healthy economic environment in this country,” he says.
We hope to form alliances with small business development agencies to assist in screening the potential tenants, and to provide us with leads. Interested parties can contact John Laws at ApexHi on (011) 283 0150.
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Publisher: ApexHi
Source: ApexHi
