A new serviced, luxury residential development, Black Brick, is being launched in the heart of Sandton, bringing long and short-term ‘hotel’ living at affordable prices – starting under R1 million.
The development is trying to introduce a new type of living model to South Africa, aiming to become a global network of residential ‘members clubs’, where residents have the freedom to “seamlessly” move between cities.
This is achieved through a network of branded residential properties, which investors can buy into – either to make use of themselves, or to rent out to tenants.
The developments – of which Black Brick Sandown is the first – are operated in a similar model to the hospitality industry, providing services and amenities to residents, while also delivering a ‘hotel lifestyle’.
It specifically targets those who are living a ‘nomadic lifestyle’, but caters for all types of residents – whether they’re looking to stay a night, or a lifetime.
The building is situated on 25 Fredman Drive in Sandton, in the old SAB Ab Inbev building which has been gutted, remodelled and refurbished for residential use. The location puts it within walking distance of most corporates in Sandton.
The group has partnered with luxury furniture brand Weylands to offer various packages to furnish apartments, with other integrated services such as fibre, entertainment packages, cleaning services, air conditioning and others also available.
For those looking to buy to let, the group has on-site management staff that run the club facilities as well as manage apartment letting for long-term tenants (6 months plus).
The building’s facilities are open to both tenants and owners, even if the latter are not currently living in the building.
Apartment prices are listed as starting at R950,000, going as high as R1.7 million for a 2-storey penthouse. Apartment sizes range between 38 square metres and 88 square metres.
According to founder, Moritz Wellensiek, 21% of the apartments are priced under R1 million, with the biggest portion (over 65%) priced under R1.3 million. Rentals are expected to start from R8,000.
The Sandton club is expected to launch in spring 2020, with several other destinations currently being researched, including Durban and Cape Town locally, and Mexico City, Sydney, Toronto, Berlin and others, globally.