Bullfinch Apartments

South Africa, Johannesburg, Sirius Properties
Johanessburg, Malvern, South Africa

Offering Description

Invest and have a direct impact on the rejuvination of the old CBD of Johanesburg which graduly increases the  safety and liveability of the City.

Bullfinch Apartments

Bullfinch apartment complex is located on Jules street in Malvern, Johannesburg. Jules Street is about 10 minutes away from the Johannesburg CBD (Central Business District) and located on one of the main arteries into CBD. It contains nine one family apartments and is fully rented out and is built along one of the main corridors into the city.

The city is not without its challenges however holds a dear place with local residents. As part slowly turning into an upcoming residential area low and medium income families. Several of the battered builds have seen better days. Developers like Wayne, take this neighborhood to heart, and rejuvenate the area building by building. By doing so they will improve the liveability and the safety of the city, making it a much better place to live. Like many buildings, the Bullfinch Apartments can use a refurbishment to improve the building and improve the street.

Project Overview

The project is a five year project. With the funding, the building will be financed and the plan contains the renovation of nine apartments, three on each of the three levels. All apartments are rentals and fully occupied. The apartments are 2 bedroom units of 60m2 with 1 bathroom, a kitchen and living room. Each unit will have parking for and 24-hour security. For more information, please read the Information Memorandum (see below).

History of Malvern Suburb, Johannesburg

The Malvern suburb has a long history. An extract from the City of Joburg website:

"The suburb is dominated by Jules Street, a wide, busy street, with honking taxis looking for customers all the way into town. The street is lined with shops - the usual Checkers, banks, takeaways, hairdressers, dry cleaners and several restaurants, with light industry south of it.

Jules Street is believed to be the longest, straightest street in Johannesburg, named after Sir Julius Jeppe, who bought the land east of the city, and was instrumental in establishing the suburbs west of Malvern - Jeppestown and Belgravia. In the early years a tram trundled from the centre of town down the middle of Jules Street.

The houses are generally small two- or three-bedroomed homes on small properties, with distinctive turn-of-the-century features: cosy verandas, strip wood floors, pressed steel ceilings, and low picket fences, still very much in evidence. There's one or two Art Deco houses, and quite a few semi-detached houses.

Malvern dates back to 1889, and was closely linked to the Jumpers Mine across the railway line in neighbouring Cleveland. Those early miners were from Cornwall, and one of the first buildings to go up was the school, along with the Methodist Church.

In those early days the suburb was known as Morristown, named after "law agent" Hyman Morris. In 1904 its name changed to Malvern, believed to be named after Malvern in England, a health spa with rolling green hills. The association was made because the ridges of Malvern offered a pleasant respite from the bustling, dusty gold-rush town of Johannesburg.

There's still evidence of the suburb's age: the Methodist Church is 107 years old, the Masonic Temple was built in 1902 and the Malvern Primary School is even older.

To many people in the suburb, Malvern is not an inferior place and never will be. Like in the old days, there's lots of children again in Malvern, and they're playing happily in the streets"

Realty Africa Impact Index

Building Africa with Impact. By investing in affordable housing, green buildings, and sustainable land management, investors can generate positive, physical change in communities that need help. The purpose Real Asset Impact Investments is to improve the probability and pace of solving social problems and create measurable social impact with Real Assets as collateral and an attractive return on investment as well.

Providing impact investment in affordable housing and green housing projects in Sub- Saharan Africa means:

  • Local Economic growth
  • A Financial Asset that can be traded and used as security for a loan
  • A Social Asset that improves local communities
  • An Economic Asset that can be utilized for income generation
  • Job creation
  • Leads to Sustainable Human Settlements

Projects on the Platform are Small Containable projects that help communities fast; project by project. As shown by the Realty Africa Impact Index, impact investment is all about having an impact on:

  • People
  • Communities
  • Improving sustainability

While generating a financial return at the same time. Impact investment is not philanthropy. The impact investment index shows social impact in this offering and how this impacts people, how sustainable the project is and in what way the community will be affected. This project is an affordable housing project.

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Financial Summary

Description Amount
Purchase 1.800.000
Renovation 450.000
Transfer Duty 89.000
Contingency 54.000
Fees 341.176
VAT 48.197
Total 2.782.374

Realty Africa Risk martrix

The risk matrix provides a quick and overall overview of the main risks in the project. The following elements are scored in conservative, moderate and aggressive:

  • Macro considerations
  • Management
  • Business risk
  • Financial risk

Please be sure to read the information memorandum for a complete overview.

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For more information, please have a look at the Updates and the Questions and Answers.

Management Team

Wayne Lee

Wayne Lee

Developer and passionate about improving the old CBD of Johannesburg

Wayne considers himself an advantaged individual with a mixed race family, which gave him an edge in the new democratic South Africa. At the age of 22, he already rode around in his suburb on his bicycle buying property. During his studies of Business Finance, he got intrigued by the application of Internal Rate of Return calculations. There are many forecasts and estimations around these calculations. What served him well is that as a highly optimistic new South African,  his projections looked very good. So he bought a few properties over the next few years, involving friends and family as much as I could.

After being a Financial Advisor with Liberty Life for five years, he realised his property returns were outperforming most funds out there. In 1998 he launched Sirius – named after the brightest star in the sky. Sirius offered a unique “Buyers agent” service together with the ongoing management of the properties.

After starting Sirius, he did five deals in his first month of selling to my tax clients. Then interest rates in South Africa went to 24% and the next year he gave 300 presentations and did only two deals. I survived from my tax clients and brokerage business.

However, in March 2000 he executed nine deals from presentations done in the previous year. Over the next few years, he grew his company to where it is currently. He manages close to 1000 tenants, and he has assisted many of his clients in securing their financial futures with substantial property portfolios.

My passion has always been to help someone move from zero to ten properties and to make a difference in the neighbourhood by refurbishing properties. The refurbishment of properties and occupying them with good tenants will make the streets a better and safer place, property by property.

R 163 000,00

Raised Of R 2 782 374,00 Goal

Days 40
Hours 10
Mins 33
R 163 000,00
Debt Offer. Structure
12% Ann. return
5 Years Term
Invest Now

Call +27 82 8516321