June 20 2024 16:30
Only Realty has acquired Apartment Box, which is a KwaZulu Natal property, tenant management and investment property sales specialist.
This is the latest in a string of acquisitions for Only Realty, following the acquisition of Gaylin Estates, Grounded Properties and Forge Homes earlier this year and of technology-driven estate agency Leadhome in 2023.
“Mirroring our success in Gauteng and Cape Town, where Only Realty Holdings has integrated 13 acquisitions over the last three years, we aim to establish a strong central team and reinforce our presence in KZN’s property market,” said Only Realty’s chief operating officer, Bradley Allen.
“This marks our first major expansion into the region and is a strategic move that underscores our commitment to growth and excellence in service delivery,” he said.
Allen said the Umhlanga-based Apartment Box “aligns perfectly with our strategic objective of acquiring property businesses with extensive portfolios focused on long-term property management.”
Founded in 2005, Apartment Box has carved out a niche in the local market as one of the few companies specialising in long-term asset and portfolio management, with services ranging from finance to maintenance and tenant procurement.
“One of the key drawcards would have to be the long-standing, close relationships that Apartment Box has forged with Umhlanga’s major landlords,” said Allen.
The acquisition will enable Only Realty Holdings to strengthen its market position in KwaZulu Natal , adding to the Ballito and Richards Bay offices.
“We look forward to further expanding our presence in the region,” Allen said.
“We will work together to structure processes, ensure tighter controls, superior systems, and quicker turnaround times to landlords – setting a new standard in the market and delivering added value to existing Apartment Box clients,” said Allen.
alistair@propertyflash.co.za
