Established in 1979, Tri-Star Construction is a private, management-owned business that has evolved into a successful, multi-disciplined construction company. Ba-Akhi Investments, a wholly black-owned investment company led by non-executive Chairman of TriStar Construction Malose Kekana, is a 51% shareholder.
Kekana, also the CEO of Pareto Limited and president-elect of SAPOA, brings a wealth of property experience to the Saxon Square development team. The property industry stalwart believes the development is well positioned to attract investment. “We are responding to the needs of the City of Johannesburg to bring density into urban areas, while creating a well-designed, eco-friendly live-work-play opportunity at all price points in an upmarket area. Developments of this nature make owning property in central, upmarket areas far more accessible for a wide range of buyers.”
Saxon Square’s collection of 134 apartments have all been stylishly designed with high-end, quality industrial chic finishes, effortlessly leveraging functional living – perfect for those seeking an affordable and cosmopolitan lifestyle. Saxon Square’s impressive list of amenities include 24-hour concierge, biometric access control, coffee shop, rooftop garden and co-working lounge. Eco-friendly and cost-saving elements built into the design include a central gas hot water heating system.
This unique combination of luxury, industrial chic apartments and modern, eco-friendly amenities in one of Joburg’s most sought-after suburbs is presented at an affordable price. Designer studios, one- and two-bedroom apartments all feature floor-to-ceiling glass windows to maximise the view. Each apartment is ideal for first-time buyers, young professionals, and investors, starting from only R899,000 for a studio apartment, to R3 499 999 for the ultra-luxurious penthouse apartment. Buyers pay no transfer duty, transfer, or bond costs and a securing amount of only R15,000 required, with 100% mortgage finance available.
“Saxon Square represents an ideal opportunity for many to step onto the property ladder, enabling them to own their first property without compromising standards or location,” says Kekana. “Furthermore, the projected investment yield of 10% makes Saxon Square a very appealing buy for astute property investors.”
Research from University of Cape Town’s Urban Real Estate Research Unit (URERU) shows South Africa is following the growing international trends of high demand for smaller, centrally located properties. URERU research further shows that residential related assets, particularly Private Rented Residential and affordable housing categories, remain firmly in the top 10 assets driving global urban growth in cities in 2021.
“We believe Saxon Square is a highly relevant, expertly designed offering based on proven trends and the needs of the market,” says Kekana. “Central, lock-up-and-go projects designed for young professionals will continue to be popular, especially in a low interest rate environment. As our urban spaces continue to evolve and answer to the needs of buyers, we expect to see more developments of this nature.”
More than R70m in sales recorded at Saxon Square in just 10 weeks proves the development is right on point.