Inyosi Empowerment is delighted to announce the successful loan approved to Tobinet (Pty) Ltd. This loan will be used to refinance an existing very high interest-bearing loan facility and assist Tobinet with working capital.
Gita Goven (“Gita”) and her life and business partner Alastair Rendall, own Tobinet, an entity which specializes in short-term rental accommodation. Gita and Alastair are well known to Inyosi, as they have requested loan funding from us in the past for one of their other successful business ventures, ARG Design (PTY) Ltd. (“ARG”). ARG is a black-empowerment enterprise owned by Gita (CEO), Alastair (Managing Director) and Istvan Gosztola (Design Director). ARG was introduced to Inyosi Empowerment by one of our existing clients, Malani Padayachee-Saman, the CEO of MPAMOT (Pty) Ltd. We support and appreciate word-of-mouth referrals by our beneficiaries.
ARG is committed to mainstreaming regenerative design and development. ARG provides several services including urban design (local and macro), architecture, town/city planning and other architectural services.
Since inception in 1999, ARG has designed and delivered on many projects, for which they have been recognized and awarded for. ARG has been recognized for its consistent architectural innovation receiving three Cape Institute for Architecture commendation awards, a sustainable building best practices (community category) award, and the Holcim International (Middle East and Africa) sustainable project prize. Gita is one of South Africa’s foremost sustainability thinkers, architect and sustainable design practitioners who has pioneered a practice of socially and environmentally conscious design. The values of ARG have been taken over into the Rendall/Goven families most recent venture, Tobinet, which trades under Mitra Mews. Prior to the latest development, Gita and Alastair completed the development of Sunset Mews in 1997, with the intention of creating a diverse residential community of care within a compact urban development.
Tobinet appointed ARG to design and oversee the construction of Mitra Mews. This recent development, completed in 2019, is located in the multicultural and delightfully nonconformist Observatory, Cape Town.
The development comprises of six different elements, including a main original Victorian home, commercial shop/business, duplex apartments, townhouses, 2-bedroom flats and an audio recording studio, offering a total of 26 well-furnished bedrooms. This includes 5 four-star South African Tourism Grading Council certified apartments, each of which features two bedrooms, two bathrooms, and a communal kitchen, dining room and lounge and 4 three-star certified townhouses, featuring four bedrooms, two bathrooms and a communal kitchen, dining room and lounge. The rental options offered are perfect for a couple’s getaway, corporate and business travel, or for a relaxing holiday. Each property comes fully equipped with a wide range of amenities, including fiber-optic high-speed Wi-Fi, complimentary Netflix, and cleaning services.
Mitra Mews is a green precinct, which embraces sustainable living through effective land use, low energy comfortable design, built using building blocks made up of 30% recycled polystyrene , solid waste recycling, and a hybrid solar PV system which generates heat and power, as well as incorporating water saving features such as boreholes, which is filtered on site and pumped to all units.
Mitra mews is situated in the heart of Observatory. Obs, as it is affectionately referred to, is a heritage suburb undergoing gentrification. Obs reflects the many different cultures, traditions, architectures, and rich tapestry which have been woven together. From its central location in Obs, Mitra Mews offers the benefit of living within walking distance of a wide range of amenities, from local coffee shops, vintage shops, and numerous restaurants. In addition to all the amenities and convenient location, Mitra Mews renters are offered 10% discount at the local partnered restaurants, ranging from Chinese to Italian, and much more.
Though Mitra Mews is a highly regarded rental accommodator for corporates, tourists and locals looking for a holiday away from home – Tobinet also offer short-term rental accommodation targeted towards post-graduate students, and young professionals since the property is located in close proximity to the University of Cape Town (UCT), and is conveniently located near Cape Town’s central business district, most recreation and tourist destinations, and provides easy accessibility to public transport infrastructures.
Gita Goven, one of the ultimate shareholders of Tobinet, the owner of Mitra Mews, was extremely delighted with the due diligence, dedication and hard work that has come from the Inyosi investment team which was responsible for this loan proposal, stating:
“Thank you for all you have done to support us in staying true to our primary aim- transformation! The work we do is very challenging and we do not often get appreciation for what we stand for and dedicate ourselves to do. Your support and words are very well received as we re-strategize and re-gear for the next chapter. The practical process and info we have had to work through [during the Inyosi due diligence process] has been valuable for us to keep abreast of where we are in this period, financially and strategically. Thank you for all your patience and persistence in working through all the detail and what is yet to come.”.
Inyosi is committed to responsible lending. We welcome the opportunity to assist our clients with financial stability, follow a pro-active and rigorous due diligence process and will remain a willing funding partner for our clients over the long term.