960 m² Commercial space in Observatory

Get a foothold in the ever-growing student rental market.

* 42 Bedrooms, each with an en-suite shower, w/c and hand basin, all furnished with a bed and desk, built-in cupboard and storage trunk.

* Three fitted kitchens with dining areas.

* Two lounge areas to relax, what television or work on your computer.

* Biometric access control with security cameras all around the in- and outside of the property, recorded and monitored from the reception area.

* Laundry facilities offer washing machines and dryers operating with tokens. There is also an outside washing line area.

* This is a freestanding building in the middle of the different campuses around Observatory. It is within walking distance to AFDA.

* The property is running at 90+% occupancy for 10 months of the year. It is mostly vacant during December and January, when upgrades usually takes place.

There are 3 floors with all rooms approximately the same size - see floorplan when you reply to this advertisement. Dry-wall partitions separate the rooms.

During the past year, 14 rooms were shared - each of these generate an income of R8000+ per month. The double rooms generated R148,500 per month in total. Total income generated = R230,000 per month. (PS: A 20 years mortgage on R15m = R150,000 p.m.) A caretaker lives permanently on the property.

The target market now is that niche where no other student housing can afford to charge the rental offered here. It is similar to Capitec in the banking sector. It is the technologies of recording camaras and biometric entry that makes it possible.

* See the pamphlet at the end of the pictures.

REPLY TO THIS ADVERTISEMENT AND RECEIVE A FLOORPLAN AND VIDEO TOUR OF THE PROPERTY.

You may even create a job for someone you know..