Real Estate Investor Magazine South Africa Real Estate Investor Magazine - November 2017 | Page 26

DEVELOPMENT
Innovation Cannot Be Contained
Maboneng’s latest addition
BY MONIQUE DU TOIT
W
ith property prices continu-
ing to climb, an ever-grow-
ing number of South Afri-
cans are finding it difficult to rent - what
to say buy - a property. Enter: Proper-
tuity. Founded by Jonathan Liebmann,
Propertuity’s aim is “identifying and
solving the urban challenges faced by
African cities.” Nowhere has this been
more apparent than in The Maboneng
Precinct, located on the East Side of Jo-
hannesburg.
24
The latest addition to the Precinct
is Drivelines Studios, built entirely of
repurposed shipping containers, and is
located on top of an old car repair shop.
The building offers 100 apartments
(ranging from 37 to 134 sqm) and three
retail spaces (between 62 and 196 sqm).
Monthly rental for apartments start at
R4 900 and offers residents access to a
number of amenities:
• Swimming Pool
• Restaurants and bars
NOVEMBER 2017 SA Real Estate Investor Magazine
• Access to Public Transportation. i.e:
Rea Vaya buses.
• The Green Grocer ( Fruits and Veg-
etable store)
• The Living room (Rooftop bar)
• Bioscope Cinemas
• 5km away from Gautrain Station
• Maboneng Shuttle ( Connecting the
Maboneng Neighbourhood)
According to Liebmann, up-cycled
shipping containers are especially rele-
vant in Johannesburg: “It’s is the biggest
inland port in the world and 2km south
of Maboneng there’s a huge industrial
shipping park that has more shipping
containers than any other part of the
world that’s not a major water body.”
Part of Propertuity’s secret is the se-
lectively with which it invests. Accord-
ing to the website, they only invest “in
areas that are part of the Urban Devel-
opment Zone (UDZ) tax incentive…
the tax benefit allows buyers to reclaim
30% of the purchase price as a tax de-
duction against taxable profit over 5
years where it is linked to the buyer’s
business.”