Near-Complete 158-Bed Student Residence on Voortrekker Road

*Under Mandate* Investors and student accommodation operators, take note. This six-storey, purpose-built residence on Voortrekker Road, Goodwood, is about 90% complete and offered for sale as is. It is a rare chance to secure a large-scale student housing asset in Cape Town’s northern suburbs, where there is a severe shortage of student beds. The building has 79 en-suite units, each with its own basin, toilet and shower, and is designed to house 158 students in twin sharing. Residents share communal cooking, recreation and storage facilities. The top floor has a lounge, kitchen and bar area, and the ground floor has the entrance and a small retail space. Key features: 6 storeys (ground plus five), about 1,686 m² building area 79 en-suite units, 158 beds Communal kitchen, recreation, lounge and storage areas Ground-floor retail space for additional income 456 m² erf, zoned General Business 4 Certificates of compliance in place for the electrical installation, plumbing (all 79 bathrooms, plus JoJo tanks and pumps), fire hose reels, hydrants and booster connection, and the fire detection system Close to Vasco and Goodwood train stations, on the main Voortrekker Road public transport route Easy access to CPUT Bellville, UWC and Northlink College campuses Income potential: on a projected R5,000 per bed per month over the 10-month academic year, full occupancy would generate about R7.9 million in gross annual rental, within NSFAS private accommodation funding limits. The remaining work includes commissioning of the fire and ventilation systems, a booster pump for water pressure to the upper floors, and the final occupancy certificate. Approved building plans and compliance certificates are available to serious buyers on request. Current municipal rates are R4,458 per month. Please note the property is still rated as vacant land, and rates will increase once the City revalues it as a completed building. The asking price of R38 million is inclusive of VAT. Viewings are strictly by appointment. Contact me to discuss or view this property