Real Estate Investor Magazine South Africa Real Estate Investor Magazine - May 2017 | Page 39

CASE STUDY
True Grit
The Power of Passion &
Perseverance in Berea
I
nland from Durban’s bustling CBD, lies the
suburb of Berea. With its wide, leafy roads,
combining elements of city living with suburban
comfort, Berea holds a huge amount of potential for
property investors, however, crime and decay have
this once-desirable suburb in need of attention. Dale
and Lyndee Johnsen are looking to provide just that.
Supported by TUHF financing, Dale and Lyndee are
capitalising on Berea’s popularity by converting two
office buildings on Clark Street into self-contained
bachelor units.
Change, even when it is for the better, is often a
challenging process. Dale and Lyndee have spent the
past year waiting on council plan approvals, facing
issues within heritage committees, and engaging local
communities to address concerns over the building
conversion.
“We faced opposition from both longstanding
community members and foreign nationals running
businesses within the area. With a lot of hard work and
many earnest conversations, we are pleased to finally
be moving forward, having gained the respect of our
community members. We understand that business
is as much about relationships as it is products. Our
community now knows us and can see the work we do
and the value we are adding to the area,” reflects Dale.
With these hurdles overcome, construction is taking
place at a rapid rate. The property previously consisted
of two buildings: one double storey and one single
storey. Upon completion, both buildings will be two
storeys high, each with multiple self-contained units.
www.reimag.co.za
The first building was fully tenanted within five days
of completion, demonstrating the demand in the
area. The second building is still under construction.
“We want to make a difference. We want to bring
whole-scale positive change to the community while
providing decent and affordable accommodation,”
says Dale.
This is exactly what they are doing. To date,
the construction project has created more than 40
jobs. Dale and Lyndee see this as a big plus for the
community. “It is hard to find buildings to purchase,
so when you get an opportunity you need to give it
everything you have to make it work,” comments Dale.
Dale and Lyndee have been property entrepreneurs for
a number of years. The couple attribute their success
to perseverance and having the right team, from the
right financiers, architects and building contractors,
to the ideal property managers and rental team.
“The best part of being a property entrepreneur is
the excitement of seeing the results of our hard work,
seeing our vision become a reality, using equity and
gearing to address the demand for accommodation,”
says Dale.
For Dale and Lyndee, the future looks bright as
they continue to look for their next opportunity. “One
property at a time, we will keep moving forward,”
concludes Dale.
RESOURCES
TUHF
MAY 2017 SA Real Estate Investor
35