New apartment building - ideal for students

A new apartment building situated next to the University of Stellenbosch campus is ideal for students of this prestigious university.

The University of Stellenbosch has a reputation as one of the finest in South Africa, and is fast approaching its centenary (in 2018) as one of the country’s foremost academic institutions.

Accommodating over 24 thousand students and more than 800 lecturers can be a challenge for a small town, so it’s always good news when additional residential options are added to the mix, says Pam Golding Properties’ (PGP’s) Stellenbosch office – not only for students and staff themselves, but also for investors wanting to capitalise on the student rental market.  

A brand new development launching this month (July 2012) is consequently expected to draw keen interest, particularly from postgraduate students and investors.  Prices at “Banghoek 2367” range from R973 500, inclusive of VAT.  The development is being marketed exclusively by PGP.

Banghoek 2367 is located immediately adjacent to the main campus in Banghoek Street, diagonally opposite the Engineering Faculty.  This location places the building within easy reach of all eight faculties located on the main campus, as well as all major sports and recreational facilities.  PGP agent Odette Collins says the building itself is brand new, and finished to unusually high specifications:  “The developer opted to demolish the existing building on the site and rebuild from the ground up, so as to ensure a new, clean and modern look.  Finished include hans grohe bathroom fittings and high quality appliances in both the individual units and the communal areas, as well as additional touches such as double glazed windows to minimise noise.  Finding student accommodation can be difficult enough in Stellenbosch – but finding brand new, upmarket, clean and spacious accommodation like this is particularly rare.”

The double-storey building offers 13 private residential suites, ranging in size from 27sqm to 34sqm.  The semi-furnished apartments offer a bedroom section,  built-in study area, en suite bathroom with shower, and kitchenette equipped with a microwave, sink and bar-fridge.  Six are intended for single occupancy, while the other seven can be shared by two residents.  All units are equipped with their own individual pre-paid electricity meters, as well as a television connection and Wi-Fi internet access.  Internet use as well as weekly laundry and cleaning services are to be levied to the occupants.  Communal areas at Banghoek 2367 include a fully-fitted open-plan kitchen and laundry.  Each unit is allocated an open-air parking bay, located behind a secure gate with remote control access.  Additional security features include electric perimeter fencing and a code-controlled pedestrian gate and front door.

PGP’s area manager for Stellenbosch, Louise Varga, says the pricing of the development is extremely competitive, given its high quality finishes and its prime central location.  “Prices for the single occupancy units range from R973 500 to R1.044 million,” she says, “while the double occupancy units are priced from R1.1865 million to R1.222 million.  Levies are expected to amount to approximately R700 to R850 per month, including services and corporate levies, depending on the size of the unit.”

Varga adds that the investment potential of the building is excellent.  “Being so close to campus, those buying to live here can expect an easy resale once their student years are finished, while those buying for investment purposes can expect steady demand for rentals, with expected rates in the vicinity of R5000 to R6500 per month.  Similar developments in the area have attracted particular interest from postgraduate students from Johannesburg, KwaZulu-Natal and even as far afield as Namibia.  The offering of a semi-furnished and partly serviced suite is ideal for those who want to enjoy their independence, without having to worry about details such as cleaning and laundry.  It’s no surprise that one unit is already under offer, and we anticipate a swift response to the remaining suites.”

Occupation is anticipated from August 2012.

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