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Quality accommodation for students is still selling. Buyers prefer options with premium security measures that are close to places of study, as well as all amenities and social hot spots.
Testament to this trend is The Worx, a new mixed-use development in the university town of Stellenbosch, and 6 on Nansen in Observatory, Cape Town.
The Worx, Stellenbosch
“The Worx, which offers 50 contemporary apartments priced from R1,45m, is located in Dennesig, an area earmarked as the next de facto student hub in this university town,” says Vanessa Johnson, sectional title agent, Pam Golding Properties, Stellenbosch. With exceptional finishes and superior views, The Worx offers a luxury residential experience.
The municipality’s urban design guidelines for this node include the promotion of pedestrian access and use of non-motorised transport, as well as the provision of a shuttle service to town. Also, the university’s green route – which allows students to walk to campus with safety measures such as additional lighting and access to campus security – will be extended to this area.
“Stellenbosch is expanding, and developments that offer convenience, security and smart building technology are always in demand. These mixed-use developments will continue to be an attractive investment opportunity, even in times of economic uncertainty,” says Louise Varga, Pam Golding Properties manager of developments for the Boland and Overberg.
This development has already garnered considerable buyer interest in recent weeks, with Pam Golding Properties concluding 14 sales to the value of R32,9m. “Pam Golding Properties is able to offer its full range of services to potential buyers who are interested in being part of Stellenbosch’s vibrant community, even during lockdown, with our specialised agents currently operating digitally or virtually.”
Says Varga, “We were so confident of the appeal of this new development from Abacus that we were happy to launch during the lockdown period. We expected it to do well, and we have not been disappointed.” It also underlines investor confidence in this historic town where the perennial demand for student accommodation, coupled with the increasing expansion of commercial and economic activity in the area, are major factors in the residential property market.
Observatory
6 on Nansen, a new housing development for students and young professionals situated close to the University of Cape Town, will offer comprehensive accommodation packages and state-of-the-art security. The 98-unit project is currently under development and set to open this December.
The young founders behind 6 on Nansen by Proper Living are British-born South African YouTuber and entrepreneur Caspar Lee (25), and Cape Town-based entrepreneur Benji Schaffer (23).
Their shared vision for Proper Living is for it to become a contemporary model for 21st century living for the sophisticated youth market in the R6,000 to R11,000 monthly rental bracket. The rooms have been designed with space and functionality in mind, and options vary from studio apartments, to two-, three-, and four-bedroom apartments. Shared communal spaces will offer areas for relaxation and connection.
Residents are not required to be a student to rent an apartment. Both Lee and Schaffer believe young professionals and students should have the option to co-exist and enjoy refined accommodation.
“To us, luxury should not be dependent on status or price, but rather a high-quality experience. We define Proper Living as a premium alternative to most student accommodation without the inflated prices,” says Lee.
Safety is a key selling point and the security system includes 24/7 guarding and rapid response, state-of-the-art surveillance, and biometric fingerprint scanning. On top of that, the Swift holistic digital app platform has been designed to further facilitate safety, and connects residents, management, and service providers.
Well situated
The site for building the 3,848m2 property was chosen for its proximity to amenities, the CBD and tertiary learning. “It’s central with a variety of affordable transit options to easily access universities and the Cape Town city centre. The neighbourhood is youth and socially oriented with convenience supermarkets, trendy coffee shops, restaurants, and bars nearby.”
The project is well ahead of schedule and will create between 200 and 250 jobs. Managed by Heron Square, a property development company specialising in the student accommodation sector, Proper Living will cater to the specific needs of SA youth culture.
