Classic Business with Paul Jackson Read More »
For Paul Jackson, co – founder and CEO of inner city property finance firm, TUHF Limited, it’s a challenge he’s happy to take. ‘Rapid urbanisation presents opportunities for inner city investment, ‘he says, adding that urbanisation is ‘entirely normal for a developing country’. He considers inner cities – the ground zero of urbanisation – as ‘hives of activity that cannot be found anywhere else’.
Read the original article published in the Johannesburg Stock Exchange Quarterly: Jan – Mar 2017
TUHF stands for good governance and takes pride in the positive impact we, our clients and funders have made in the inner cities of South Africa over the last 14 years.
We are disturbed by the recent events that threaten to inflict damage to South Africa’s economy and governance.
In this spirit, we stand together with all our partners, clients and fellow South Africans in expressing our concern.
We have permitted our staff members who wish to participate in formal action on Friday, 7 April to do so in their private capacity. Our offices will remain open, but we may operate at reduced capacity.
info@tuhf.co.za | 086 000 TUHF (8843) | www.tuhf.co.za
TUHF OFFICIAL STATEMENT: POLITICAL EVENTS AND PROTESTS ON FRIDAY, 7 APRIL Read More »
On Thursday, 26 January, TUHF Limited successfully launched the first R280m tranche of their R1 billion DMTN (Domestic Medium Term Note) Programme on the JSE (Johannesburg Stock Exchange).
TUHF welcomed new investors including Sanlam, Stanlib and RMI, who joined existing TUHF funders – Old Mutual ’s Futuregrowth and Mergence.
These funds will enable TUHF to grow its financing of inner city development projects in all major city centres of SA, directly improving rejuvenation and meeting the high demand for affordable accommodation downtown.
“The listing of this note on the JSE marks a new dawn for TUHF in accessing debt capital markets. Our credit rating and 14 year track record speaks to the specialisation, governance and excellent risk management our business has become known for in commercial finance and inner city property,” said Ilona Roodt, TUHF’s CFO.
She added that “Although the pricing was higher than originally anticipated, we realise that as this is TUHF’s inaugural debt listing and rating, new investors are being cautious. Seeing and managing investment opportunity in inner cities is our specialisation, with proven growth over 14 years having financed over R4 billion and 43 000 units downtown. Over time we look forward to building on this performance and developing strong new investor relationships.”
Paul Jackson, TUHF’s CEO and Co-founder added: “We look forward to the opportunities this unlocks for TUHF and our clients’ business growth. The funds will be instrumental in sustaining our 5 year average loan book growth of 13%. This building block in our long term debt capital strategy means we are one step closer in achieving our vision of a R5 billion book servicing every major city in South Africa.”
Launching the R280m tranche marks the first of 3 tranches planned over the next 3 years totalling R1 billion. The debt arranger for TUHF’s DMTN is Deloitte Capital.
TUHF’s DMTN launch on JSE enables more growth downtown Read More »
At TUHF, we are passionate about spotting and unearthing potential. In declining areas, we see thriving property markets. In run-down buildings, we see the potential for families to live in a safe and secure environment. in people, we see the entrepreneurial capability to create well-run businesses, providing employment and multiplying our economy.
Read the original article published in the NHFC 20 Year anniversary Publication.
NHFC 20 Year Anniversary Publication Read More »
Braamfontein Gate entails converting a 30-storey office block into more than 400 residential apartments using the latest building technologies and designs. It is expected to be completed by June 2017. Specialist inner-city property financier TUHF cofounder and senior portfolio manager Nano Makwela tells Engineering News.
Once complete, the building will offer high tech security and access control systems, over 500 under cover parking bays, a grab and go coffee shop and juice bar, a business centre, outdoor swimming pool, a fitness centre and recreation area with pool and foosball tables.
The new development will replace an office building that was affected by fire in June 2014. “Some floors were severely affected by the fire, while others only suffered smoke damage. Furniture and documents were recovered from the building, where possible, but it was not safe for occupation as the electrical wires had also been burnt . . .it was then acquired for the Braamfontein Gate residential conversion, which presented the opportunity to create residential apartments in an unused space,” says Makwela.
Architecture and urban design studio Local Studio is responsible for the architectural design of the building, construction company Dryden Construction is contracted for the building construction, consulting structural engineering company and project manager Lines & Smolka will engineer the project, while architectural design firm Design Republic will work on the interior design.
“Lightweight walling is used in the construction of each apartment, as it is strong, soundproof and . . . easy to work with,” Makwela adds.
He says the building will use energy efficient systems where possible, including a full hot water heat pump system, solar panel installation as well as metered hot water and prepaid electricity, which not only saves energy but is also a cost-effective alternative.
The balcony for each apartment will be fabricated from old sun visors repurposed as balustrades, which “will give the building a new, fresh look,” adds Makwela.
Phase 1 of the project is complete, with about 75% of work to be done before June 2017. The first tenancy was settled on September 1, 2016, which Makwela noted as the first project milestone.
The R250-million project has been financed through equity and debt funding, while a percentage of funding was provided by TUHF. The project employs about 350 people on site.
The building is in close proximity to the Gautrain station at Park Station, which Makwela believes makes it an ideal residential destination, providing accommodation for more than a thousand tenants.
He concludes that, from June 2017, Braamfontein Gate will offer a distinctive lifestyle in the heart of Braamfontein.
Case study: Braamfontein Gate. Conversion project uses new building technologies Read More »
Inner city property financier TUHF, recently celebrated with some of their Johannesburg and Port Elizabeth clients when they graduated from TPPE for 2016.
This Property Entrepreneurship course is endorsed by the University of Cape Town’s Department of Construction Economics and Management facilitated for TUHF clients who are existing inner city property entrepreneurs.
Our graduates, 12 from PE and 34 from Jo’burg, committed to the training programme which indicated their strong dedication to TUHF and to the property sector,” said Lusanda Netshitenzhe THUF Development Impact Manager. Officiating over both events was Professor Francois Viruly, Associate Professor at UCT along with Henry Chitsulo from Bold Moves.
“Our training programme is designed to strengthen our client’s property investment knowledge and skills while supporting them to grow their property portfolios. These entrepreneurs are catalysts in contributing to job creation, urban regeneration, local economic development and ultimately growing our economy,” said Khumbulani Chikomo, Regional Manager for TUHF’s Eastern Cape branch.
“We are pleased with the enthusiasm and dedication that our clients applied, and trust what they have learnt will add practical value to their inner city property businesses,” said Rose Valloo, Mortgage Manager at TUHF head office.
“As an organisation that is driven by our belief that inner cities are important nodes for local economic development and investing in them is necessary for future growth, TUHF is proud of the success of the programme which nurtures and grows our clients”, concluded Paul Jackson CEO TUHF.
View the photos from the Johannesburg event here
View the photos from the Port Elizabeth event here
The TUHF Programme for Property Entrepreneurs (TPPE) celebrates with graduates Read More »
Did you know that if you currently own a building that is mixed use, with majority residential but being charged business tariffs you can apply for the tariff to be changed to residential, which is a lower rate?
Complete the attached application form and submit it together with the letter from a Town Planner or Architect confirming that the property is 50% plus 1 residential. Once the application form has been verified and approved you will be charged the residential tariff from date of application.
The application form together with supporting document must be sent to Tenda Maphaha tendam@joburg.org.za and cc Veli Hlophe VeliH@joburg.org.za
For more information or membership queries visit their website www.jpoma.co.za or contact 084 291 9087.
Applying for 50+1% on Current Buildings Read More »
The inner city of Johannesburg is gaining popularity among property investors and tenants alike.
Read the original article published in the Real Estate Investor Magazine: August 2016
Investing in Inner City Residential Property: Opportunities for inner city landlords Read More »