Tricolt taps Totalstay to run rental pools at The Madison and Olympus Sandton
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Developer Tricolt has appointed hospitality operator Totalstay to manage aparthotel rental pools at its 391-unit The Madison in Cape Town and the 527-unit Olympus Sandton in Johannesburg.
South African developer Tricolt has appointed hospitality operator Totalstay to manage the aparthotel rental component of two of its largest residential developments, giving buyers the option of placing their apartments into a professionally managed short- and flexible-stay rental pool.
Established in 2010, Tricolt has delivered more than 5,000 residences worth over R16-billion and has more than 2,000 units currently under development. The appointment followed a due-diligence process aimed at selecting an experienced operator to manage the rental component.
The Madison, located at 142 Bree Street in Cape Town's CBD, will comprise 391 apartments across 23 floors combining residential, retail and hospitality elements, including executive suites, one- and two-bedroom apartments and penthouses. Construction is scheduled to begin in early 2027, with completion expected in mid-2029.
In Johannesburg, Totalstay will operate the aparthotel rental pool at Olympus Sandton, Tricolt's 50:50 joint venture with Growthpoint Properties. Located at the corner of Empire Place and Rivonia Road in the Sandton Summit precinct, Olympus comprises 527 apartments across two towers, Athena and Apollo, together with hospitality, restaurant and leisure features. Construction is already under way after the full site was handed over to the main contractor in April 2026; more than 85% of apartments had been sold by the project's February groundbreaking, and overall completion is targeted for 2028.
Tricolt group chairman Tim Kloeck said the selection of the rental operator formed a crucial part of planning for both developments. "For buyers purchasing with rental income in mind, the long-term operation and management of the property are fundamental to the investment proposition," he said, adding that the aim was a professionally managed solution that protects the long-term value of every owner's investment. Totalstay chief executive Rael Phillips said the appointment reflects a broader shift toward developers considering the operating model of investment-led residential projects much earlier in the development cycle.