JSE listed real estate investment trust (Reit) Octodec has uplifted the Tshwane central business district (CBD) with various residential, commercial, office and retail developments, with the aim of providing safe, clean and productive environments for the citizens of the city.
The latest developments, include Sharon’s Place, which contains 400 residential apartments, 289 parking bays and 5 660 m2 of ground floor retail – where Shoprite, Clicks and Railway Outfitters are currently tenants.
The residential portion of Sharon’s Place has a lower than 10% vacancy rate, with 35 units currently unoccupied. The units, which include bachelor, one-bedroom and two-bedroom options, range in size between 25 m2 and 45 m2. The property has biometric access control features for security and also has a children’s playground, soccer field and other outdoor amenities.
Octodec’s One on Mutual, a mixed-use building, is aimed at higher-income earners, with 142 bachelors, one-bedroom and two-bedroom units, four of which are currently unoccupied; 1746m2 of ground floor retail anchored by Pick n Pay and Mugg & Bean, 443m2 of offices and 204 parking bays. This property also has a children’s playground and is near various retail stores and restaurants.
Meanwhile, Octodec has repurposed one of its buildings into an events facility called 012 Central that comprises a hall, garden and restaurant where events such as markets and weddings can be held.
Octodec owns a portfolio of 309 properties located mostly in the Tshwane and Johannesburg CBDs with in excess of 14 000 tenants across the portfolio. City Property, the asset and property manager for Octodec’s owned portfolio carries out the development projects as part of its property management services.