Nestled between the old Johannesburg areas of Observatory and Yeoville, lies Bellevue East, an area characterised by older apartment buildings, often two to three stories high. It is home to a thriving community of families, with children regularly playing in the tree-lined streets. Bellevue East is also the home to the building, Shalean Place. Unlike other buildings in the area, Shalean Place was well maintained and initially offered four very spacious two-bedroom units. The current owners of the building were initially attracted to the potential of the area, which, while not in the Johannesburg CBD, is centrally located with a high demand for affordable accommodation. Through the referral of other successful TUHF clients, the owners contacted TUHF to assist them to achieve their investment goals.
The building owners used innovative design to retain some of the original elements, such as the parquet flooring and high ceilings while creating beautiful living spaces for tenants. Today the building boasts four one-bedroom and four two-bedroom units, with rentals ranging from R3,200 to R4,500 per month. Energy efficiency was also an important consideration in the design. As a result, all units are fitted with gas geysers and the outside lights have daylight sensors to save power.
To keep the building in good shape, tenants are carefully vetted through an external agency, and only reliable, high-calibre tenants are accepted. The building is and tenants, with a full-time cleaner and caretaker to assist.
Shalean Place is a testament to the impact of thoughtful renovation in an area, creating homes with character for hard-working families to live and play.
TUHF Product: Purchase and construction finance
Original Configuration: Four two-bedroom units of 125m² each and four rooms of 12m2 each
Configuration upon completion: Four rooms of 12m² each, four one-bedroom units of 40m² each and 4 two bedroom units of 55m2 each
From our 2016 Integrated Annual Report