Property description

If you're looking for a space ripe with opportunity and abundant potential, which are rare to find, look no further than this gem of a building, situated opposite the street leading to the UJ Doornfontein campus (barely 50 meters away) Nestled next to the campus and the new multimillion rand UJ Engineering block, the building is perfectly poised for anyone looking to invest in student accommodation. This is a sure income generating opportunity with zoning rights that enable you to build up to 7 stories and potentially house a total of 800 students! This is a golden opportunity not to be missed. This 3 erf property has been consolidated, to provide you with 1413 square meters of plot. Upon completion, the building can potentially provide up to 10’000 square meters of gross lettable area. Currently, the building features 60 residential units, with 30 double rooms (allowing for 2 student occupation) and 30 single units, providing space for a total of 90 students.

With 11 retail opportunities available on the ground floor, potential investors are in for ample income potential, making this property perfectly placed to service all the students who pass by the property on a daily basis, as well as the students who already live in the building. A ramp at the entrance of the accommodation, allows for the easy swift access, for tenants and also allows for redevelopment to be done. This also provides opportunities for parking in the building. The astounding truth is that upon completion of the building, it will easily earn a potential amount of over R3 million a month, at the current rate for 'per head' student accommodation, according to the NASFS accreditation rate. The buildings prime positioning between the UJ buildings, makes this property a highly sought after accommodation, especially considering that students won't need to worry about safety or arriving to their lectures on time. The current building owners are open to proposals for a joint venture, making the building opportunity equitble, and creating opportunities for the implementation of potential projects. Let us take you to see this opportunity of a lifetime that awaits.