Student accommodation in Joburg’s Braamfontein provided lodging for 300 foreign visitors from the broadcast industry during the Soccer World Cup.
It was organised at the eleventh hour by Aengus Property Holdings and thanks to its success the company is seriously considering entering the hotel industry.
This type of accommodation was provided in Aengus’ Argyle Precinct project, which entails four upgraded buildings with 416 contemporary units. These buildings border on Hospital and Smit Streets and the upgrade amounted to R20m.
Richard Rubin, CE of Aengus, says the company is considering managing one of its buildings in Braamfontein like a hotel in future. “We can either do it under our own brand or enter into an agreement if one of the big hotel groups is interested.
He says the tariffs being achieved during the World Cup compare well with those of a four-star hotel in the Northern Suburbs.
The four-star Mapungubwe Hotel Apartments in the Joburg CBD is similarly managed and is very successful.
Aengus is known for its conversion of old office buildings into lettable residential units in the Joburg inner city and surrounds.
It has brought 1,400 residential units in 14 buildings to market over the last five years. It amounts to more than 2,000 rental contracts as some of the units are big enough to be divided.
Some of the international guests arrived as early as 25 April and the last ones are departing today. Rubin says it was his company’s first step in the hotel industry and it was a learning curve to be reckoned with. 150 job opportunities were created in the process.
He says Braamfontein was exceptionally active during the tournament, particularly because of its close proximity to Ellis Park and Soweto.
He says the positive effect of the World Cup will still be felt for years to come. – Elma Kloppers, Sake24
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