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Commercial for sale
Enjoy effortless student living and retail convenience in Parow's lively Voortrekker Road corridor, minutes from CPUT and UWC, transit-accessible and featuring ground-floor retail.
This 1671m2 GLA mixed-use property on Voortrekker Road, Glenlilly, Parow offers a prime investment and development opportunity.
Perfectly positioned on a high-visibility, transit-oriented corridor, it provides immediate access to CPUT, UWC, and Northlink College via major public transport routes.
The space is ideal for high-yielding student housing combined with ground-floor retail.
159 Voortrekker Road is the former Permanent Bank / Building Society Building and was purpose-built for the application.
It is a very solid building and is an ideal building to convert to student residences.
It sits on an erf of 1375m2 with a GLA of 1671m2.
The building enjoys frontage onto Voortrekker Road as well as onto Wrensch Road.
It has an enclosed parking area at the back with parking for 9 cars.
There is also a public parking area at the back with parking for around 150 cars.
It is located in the preferred catchment area for student accomodation with at least 3 CPUT student residences across the street/in the immediate vicinity.
It is on the HGTS route, the taxi route and is surrounded by national FMCG stores like Shoprite, Spar, and eateries such as Hungry Lion and many other take-aways ensuring a variety of options in this regard.
Property Highlights
Total Size: 1671 m2 of versatile mixed-use floor space.
Location: Prominent Voortrekker Road frontage in Glenlilly—Parow`s burgeoning student and commercial hub.
Layout Potential: Ideal for converting upper levels into modern, secure student clusters (single or sharing rooms) with ground-floor conveniences.
Investment & Lifestyle Advantages
Transit-Oriented: Bus, train, and minibus taxi routes are on your doorstep, ensuring easy daily commutes to nearby tertiary campuses.
Amenities at the Door: Within convenient walking distance to major retail outlets, convenience stores, and recreation hubs.
Strong ROI: High demand for affordable, accredited student living makes this an ideal income-generating asset for astute developers.
PROPERTY OVERVIEW
A double‐storey, GB4‐zoned commercial and residential block situated on Erf 7471 & 7463, with a combined land size of 1 370m2.
The property has been recently refurbished and renovated, completed as recently as March 2025 and is maintained to an excellent standard both internally and externally.
INVESTMENT HIGHLIGHTS
✔ 100% Occupancy
A strictly vetted tenant base consisting primarily of young working professionals and students from nearby UWC and surrounding colleges.
✔ Strong, Diversified Income Stream
Income: ± R87 000.00 per month
Positioned along Voortrekker Road with excellent visibility, foot traffic, and off‐street parking.
Income: ± R114 000.00 per month
Modern communal facilities, prepaid electricity, and a well‐managed levy system covering gas, water, Wi‐Fi, and cleaning.
✔ Expansion Potential
Plans underway for 13 additional rooms on the large outdoor balcony.
The first‐floor dry‐wall configuration allows easy reconfiguration of the existing rooms to accommodate 2 occupants per room.
✔ Additional Income & Operational Features
PROPERTY LAYOUT & FEATURES
Retail Component
Residential Component
Ground Floor Additional Units
CONDITION & APPEAL
This block is known for its upmarket feel, modern interiors, and superior finishes compared to other buildings in the area.
The entire property has been professionally renovated, ensuring minimal maintenance and strong tenant retention.
LOCATION ADVANTAGE
Situated in Parow’s bustling commercial corridor, the property benefits from:
THE OPPORTUNITY
This is a turnkey, income‐producing asset with:
UNLOCKING A PRIME STUDENT ACCOMMODATION INVESTMENT
Situated in the heart of Cape Town’s academic hub, this property offers a lucrative opportunity to tap into the growing demand for student housing from CPUT and UWC.
With NSFAS funding guaranteeing consistent rental income, the numbers speak for themselves:
High Demand, Guaranteed Occupancy: Both universities are within proximity, making this a central hub for student accommodation.
Efficient Space Utilization: Each student requires just 7m2, maximizing the return on available space.
Current Capacity: With existing space, we can accommodate 75 students, generating R312 450.00 per month at NSFAS’s rate of R4 166.00 per student.
Expansion Potential: Approved plans add approximately 556m2 including the ground floor space, creating room for an additional 79 students.
Total Income Potential: Fully utilized, the property can generate R641 564.00 per month in rental income from Student accommodation only, this excludes the Retail component rental Income.
Viewings are strictly by appointment
Listed for sale at R19,800,000
Parow Central is a bustling, centrally located urban hub that offers residents exceptional convenience, affordable housing options, and easy access to major transport routes across the Northern Suburbs of Cape Town.
