Johannesburg’s Drivelines Studios, made from upcycled ISO shipping containers, is now up for auction.
The development in the city’s Maboneng precinct aimed to bring affordable housing to the mixed-space area that is often used as the poster-child for recapturing the heart of South Africa’s biggest city.
While most of South Africa’s container home projects are sold as ‘modular homes’ (with prices starting as low as R120,000), Drivelines marked a first, as a multistorey apartment block made up of multiple containers.
The project was launched in 2014, and was completed and opened for occupation in September 2017.
It offers affordable living, with rent as low as R4,900 per month.
Jaco du Toit of Park Village Auctions said property investors should add Maboneng, or “central Joburg’s new investment gem” to their portfolio. A host of mixed-use Maboneng properties will be offered by Park Village on April 15 at noon at The Venue, 17 High Street, Melrose Arch, Joburg.
“Investors seeking rapid growth of their portfolios are buying up property in this area at a rapid rate. With more than R2 billion being funnelled into the Maboneng precinct by investors ranging from property investment companies to financial institutions, this is an area to watch closely over the coming years,” said du Toit.
“The precinct draws the inner-city public as well as the chic, art-loving crowd of the city’s northern suburbs. PVA’s auction portfolio will allow potential investors to get a foot into the door of this new property hotspot to benefit in the huge growth potential offered.”
Other properties up for auction include:
- Craftmans Ship
- Fox Street Studios
- Rocket Factory
- 305 Fox Street
- Living Moad
- Betty Fox
- Artisans Loft
- Remeds View
- Revolution House
- Rivers of Steel
- Main Street Life
- Urban Fox
- Arts on Main
- Aerial Empire
- Market Up
- Hallmark House