New buy-to-let development for CT's East City District

Upon completion, 1 Harrington will have 60 one- and two-bedroom apartments. The first two floors will house offices and retail tenants. The development will be equipped with green, energy-saving technology, high-end fittings and finishes, landscaped outdoor spaces, secure parking, 24/7 security and wifi throughout.

“We are extremely excited about this development, which has not yet been officially launched but has already received tremendous interest from investors,” says Patrick Parring, head of Exel Project Management Services, which is in charge of the project.

“There is a tremendous demand for quality rental stock in the CBD, and while 1 Harrington will provide welcome additional supply in one of the city’s most exciting districts, the development is also good news for communities who rely on the important work of NICRO.”

Alternative revenue stream for NICRO

NICRO is an NGO that provides social crime prevention and offender reintegration services in South Africa. Reliant on donor-funding during most of its 100-year existence, NICRO in recent years sought to develop a more sustainable model to be able to continue its work. It has since made headway in implementing a strategy to develop alternative revenue streams. As a result, NICRO’s business division, NICRO Enterprises, determined that developing the site of its current head office could make a substantial contribution to ensuring long-term sustainability for the organisation, which will continue to occupy office space upon the completion of 1 Harrington.