Introducing Aengus Property Holdings’ (APH)

Posted On Wednesday, 15 February 2006 02:00 Published by
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By way of introduction for any reader(s) of this document we would like to furnish you with some company information, as well as information pertaining to our partners.

                                                           
By way of introduction for any reader(s) of this document we would like to furnish you with some company information, as well as information pertaining to our partners.

Company Background

Aengus Property Holdings’ (APH) core focus is urban renewal. The company provides “turnkey” development where a project is taken from an idea through the construction phase, culminating in either leasehold or ownership, and ongoing management. The company focuses on underperforming nodes, and their implicit portfolios. Our focus thus far has been on South Africa’s major metropolitan areas, specifically “mothballed” commercial buildings which we convert from office to residential space, which we then hold for rental. Owing to mass decentralization of major corporates to areas that have been perceived as being more desirable to house corporate head offices; the inner cities have presented a unique opportunity. This availability of commercial stock, juxtaposed with a seemingly insatiable demand for affordable rental accommodation has allowed for APH’s involvement in some of the most exciting “Residential Conversions” in the inner cities and their surrounds. By the end of 2006 APH will have 700 residential units owned by the company, and under management.

Partnerships

ApexHi Properties Limited

APH has partnered with ApexHi Properties Limited, (ApexHi), and this company is a minority equity stakeholder in three of APH’s Johannesburg Inner City Projects which are elaborated on below. ApexHi is a Property Loan Stock listed on The Johannesburg Securities Exchange (JSE). ApexHi’s national property portfolio has, by way of recent acquisitions grown to a market capitalization in excess of R5 billion. ApexHi has invested heavily within the nodes that APH develops its properties, and APH has already earmarked the next three buildings to be developed jointly between the two companies

Standard Bank Properties

Standard Bank Properties, a division of Standard Bank South Africa, has provided for mortgage finance on APH’s first three developments with ApexHi. The Bank sees the value of these transactions in terms of the financial charter’s focus on the development of affordable rental housing stock around the country. As one of the larger financial institutions in South Africa, we are proud to have the bank as a major supporter of our projects.

APH’s Current Portfolio & Development Projects

Biccard House

This project was APH’s first. The building situated on the corner of Biccard and Juta Streets, Braamfontein, was for many years the head office of The Permanent Bank. It consisted of six floors of commercial space totaling approximately 4500 m2, with retail at street level approximately 2000m2. The building in its entirety had no commercial nor retail tenants, the commercial portion having been empty, and subsequently “mothballed” for many years. APH set about converting the building into 54 luxury apartments, consisting of studio and one bedroom apartments. The retail area was also upgraded, and services both the residents and frenetic passing trade through 7 retail stores.

66 Smal St

Situated within the section of The Smal street Mall that links Pritchard and President Streets, this 15 storey building overlooks the majestic Johannesburg Supreme Court, as well as other famous Jozi Landmarks. The building once home to many members of Johannesburg’s Legal Fraternity will now take the form of 150 themed apartments, including two penthouses. The apartments are designed around motifs from various capital cities around the world, namely: New York, Jozi, Paris, and Tokyo. The penthouses on the 15th floor have an almost unencumbered view of the city which for two lucky tenants will provide for apartments that could compete with vistas from other booming metropolises elsewhere in the world. This development will be a true “lifestyle” brand within the rental housing sector, and the first of its kind in Gauteng, where the development itself will provide for all the requisite services for its residents. These will include laundry, internet, food, and recreational offerings.

African City

Along one of the busiest pedestrian thoroughfares in the city is African City. This commercial building which has been empty for the most part of ten years is being converted into 145 bachelor apartments. The finishes here are raw industrial, and APH will follow the precedent set by the finishing schedule at 66 Smal St. This development will be completed by mid 2006, and will also embrace the motifs of capital cities around the world as well as underpin the lifestyle brand consistent with APH’s offerings within the CBD.

Kelhof

Situated along Pritchard Street, close to 66 Smal St is Kelhof. This will be the biggest development that APH has undertaken both in Rand value and number of units. The development will take the form of bachelor and one bedroom apartments totaling in excess of 230 units. Kelhof will be completed in the second half of 2006, and will be the most complete “lifestyle” development with which APH has engaged.

Aengus Property Holdings (pty) Ltd

 27-11-442-1881 (w)


 


Publisher: Aengus Property Holdings
Source: Aengus Property Holdings

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