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Commercial Property in Doornfontein For Sale

R23 000 000

Bedroom icon 60 20 1413m2
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Commercial Property in Doornfontein For Sale

An Incredible Student Accommodation Opportunity with Retail Component

Bedroom icon 60 20 1413m2

Commercial Property in Doornfontein For Sale

An Incredible Student Accommodation Opportunity with Retail Component

R23 000 000

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  • ZAR
  • BWP
  • EUR
  • GBP
  • NAD
  • NZD
  • AUD
  • USD
  • ZWL
  • ZMW
  • MUR
20 Bedroom icon 60 1413m2

Features

Description

Potential and opportunity are not the easiest to come by, but when looking into this gem of an opportunity, they are both available in abundance. Situated across the street from the UJ Doornfontein campus (not even 50 meters), and in between the campus and the new Multimillion Rand UJ Engineering block, this building couldn’t be more perfectly poised for student accommodation investment. The perks of having income already, and zoning that will allow you to build up to 7 stories and house 800 students in total, this is an opportunity like no other.

The property consists of 3 erfs that have been consolidated, to give you 1413 square meters of plot. Once built to completion, this building can provide up to 10’000 square meters of gross lettable area. The building currently features 60 residential units, with 30 double rooms (allows for 2 students) and 30 single units, providing space for 90 students in total.

There are 11 retail opportunities downstairs creating ample income potential for prospective buyers and making this property perfectly placed to service all the students coming past the property every day as well as the students who are living in the building. The entrance to the accommodation has a ramp which allows for the easy access, and service for any redevelopment to be done. This also provides a few opportunities for parking in the building as well. The astounding fact is that once the building is complete, it will easily be able to earn over R3 million a month, at the current going rate for student accommodation per head, with the NASFS accreditation rate. Being placed between the UJ buildings, this property will be a very sought after accommodation considering students need not worry about safety or getting to lectures on time.

The owners of the building are also open to proposals for a joint venture, making the property itself equity, for any potential projects to be implemented. An opportunity of a lifetime awaits, and we are ready to take you there. 

Monthly Costs

Calculated over 20 years at % with no deposit.

Bond Payments R
Mun. Rates & Taxes ZAR 19,000

Property Details

Web Ref RMOK-1385
Property Type Commercial Property
Erf Size 1413m2
Bedrooms 60
Bathrooms 20

Contact Agent

Agent profile picture

Bulelani Mageza

Full Status Property Practitioner

RE/MAX One (Kramerville)

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Enquiry about property Ref:RMOK-1385

R23 000 000
change currency
  • ZAR
  • BWP
  • EUR
  • GBP
  • NAD
  • NZD
  • AUD
  • USD
  • ZWL
  • ZMW
  • MUR

Contact Agent

Agent profile picture

Bulelani Mageza

Full Status Property Practitioner

RE/MAX One (Kramerville)

Show number

Show number

MessageCall me back Whatsapp
Book a viewing

Contact Bulelani Mageza

Agent profile picture

Bulelani Mageza

Full Status Property Practitioner


RE/MAX One (Kramerville)

Show number

Show number

Enquiry about property Ref:RMOK-1385

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