02 Jun 2011
The development received funding of R25m from Nedbank Corporate Property Finance and although predominantly aimed at students at the University of Cape Town (UCT), it is also ideally placed for students attending Varsity College, AFDA, CPUT and Damelin.
The development is located on Durban Road, which borders Mowbray and Rosebank between Liesbeek Parkway and Main Road. The four storey building comprises 55 two-bedroom apartments, each measuring between 34 and 36 sqm in size. Bedrooms are fully furnished and all kitchens are equipped with stoves, fridges and convection/microwave ovens. Wifi access is available to all tenants.
The building has a laundry room, while the first floor courtyard serves as an open-air communal space. Two lounges equipped with TVs are located on the top floor. The development also provides state-of-the-art security, including a 24-hour concierge service, biometric access control systems and CCTV camera monitoring.
Since acquiring the erven in 2007 and 2008, the developers – Jeremy Chaitman and Shamus Fitzhenry – engaged UCT in negotiations to provide a solution to the dire need for more student residences.
The units are being let privately and the occupation level of the building is currently at over 80%.
For more information contact Marion on 074 330 4222.
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