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November 6 2024 17:30

SOUTH AFRICA

Landsdowne Property Group, a residential real estate manager and estate agency company, is pushing its message that sustainability is about building a resilient, annuity-based business.

Founded in November 2006 with just one employee, Landsdowne grew to 170 employees by 2024 and has established 10 annuity businesses since the launch of Landsdowne Property Management in 2010, CEO and founder Jonathan Kohler says.

“As we celebrate our 18th anniversary, we remain committed to aggressive growth through exceptional service, referrals, and innovative sales strategies. Our goal is to become the largest real estate service provider in South Africa. We will continue to expand by acquiring businesses related to real estate, such as property management and financial services, to ensure the long-term sustainability of our operations and the well-being of our employees,” he says.

Kohler said rather than relying solely on revenue from sales and rentals, the group has diversified its income streams. This approach not only ensures the financial sustainability of the business but also provides a consistent flow of revenue, he says.

Originally established as Landsdowne Investment Properties, the business began its journey in Kohler’s sister’s garage in Morningside. The name “Landsdowne” is derived from Kohler’s family home, which shares the same street name in Bryanston, Johannesburg, he says.

To celebrate its 18th anniversary, Landsdowne Property Group relocated its head office from Bryanston to Sandton and opened new office in Paardevlei, Cape Town in November.

In 2007, the company secured its first client, managing properties for investors purchasing real estate in South Africa. By 2010, it had launched Landsdowne Property Management and was appointed managing agents for its first Body Corporate, overseeing a 30-apartment building in Parktown North. That same year, the group acquired offices in Lonehill and took on its first  Summercon development.

In April 2012, the group launched Landsdowne Estate Management, leading to various appointments to manage estates, including the prestigious Steyn City and Eagle Canyon Golf Estate in Johannesburg. Since 2015, it has also gained extensive experience in managing commercial properties.

In March 2023, Landsdowne was appointed as the managers for Orlando Estate Towers, Soweto’s first sectional title lifestyle development, featuring apartments priced between R600 000 and R980 000. The estate, which is being developed in phases, will ultimately comprise 568 apartments upon completion.

“We see significant growth potential for sectional title management in Soweto, driven by increasing demand for secure lifestyle environments and new urban living models in the townships,” says Kohler.

In November 2018, the group introduced Landsdowne Financial Services, with financial solutions to help residential estates operate. These include providing short-term loans for special projects or addressing levy arrears. That year, the group was also appointed as rental managers for developments by JSE-listed Balwin Properties in Olivedale and Calgro M3 in Roodepoort.

When the COVID-19 pandemic struck and strict lockdown measures were implemented, the group seized the opportunity to launch Landsdowne Maintenance in March 2020. 

“We identified a growth opportunity in the market and adapted our offerings accordingly, and this business continues to thrive,” says Kohler.

In 2022, the group introduced Landsdowne Utilities and Landsdowne Insurance Brokers in collaboration with Telesure Investment Holdings. In July 2023, they launched Landsdowne Solar, followed by Landsdowne Legal in June 2024.

The other two annuity businesses include property sales and rentals, as well as off-plan property sales and marketing.

Kohler says hope that lower interest rates will stimulate demand and activity in the market.

He said Johannesburg has not seen capital appreciation since 2010, making it a buyers’ market.

“This is an opportune time to invest in property in the metro, but many potential buyers are hesitant due to financial constraints and inadequate service delivery,” he says.

KwaZulu-Natal is also a buyers’ market, with established estates like Zimbali capitalising on the strong demand for exceptional lifestyle and secure living options, he says.

Cape Town is currently a sellers’ market, largely driven by semigration trends and strong capital appreciation, he says.

247@propertyflash.co.za

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