Photo: Supplied
Park Village Auctions (PVA) has announced an auspicious auction of a four-storey apartment building currently accredited as student accommodation by the University of Johannesburg (UJ).
According to PVA director Clive Lazarus, the sale represents a favourable investment opportunity as high demand – mainly in metropolitan areas – has made student accommodation one of the most resilient property investments in South Africa.
“Student accommodation sees an average 90% occupancy, and the shortage in supply further increases demands, which is why this sector consistently outperforms others,” says Lazarus.
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He adds that the property in question, Cherbourg Apartment Building, 50 Fuller Road, Bertrams, Johannesburg, is a case in point with only four vacancies out of its approximately 108 beds.
While not guaranteed, the students currently occupying the building are funded by the National Student Financial Aid Scheme.
The four-storey residential building comprises 12 three-bedroom, eight two-bedroom, and six single-room flats, a social room, a laundry room, a general storeroom, nine basement-like parking bays, and three open parking bays.
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Each three-bedroom and two-bedroom units contain a kitchen, bathroom and toilet, while the single-room units contain a kitchenette and share a communal bathroom.
The bedrooms are fitted with two single beds and a desk each. Standing fridges and stoves are supplied in the kitchens, the bathrooms boast standard sanitary ware, and the laundry room is fitted with a washing machine and dryer.
Other fittings include fingerprint access control, a turnstile pedestrian gate, CCTV cameras, and Wi-Fi (available as an add-on service).
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Cherbourg apartments are located only a stone’s throw away from the UJ Doornfontein Campus, with transport offered as another add-on service.
Nearby institutions, facilities and amenities include Central Johannesburg College of Education, Ellis Park Rugby Stadium, Johannesburg Athletics Stadium, the Ellis Park Sports Ground and Olympic Swimming Pool, the Johannesburg Art Gallery and Maboneng Precinct.
The auction will take place via Webcast (online auction) from 50 Fuller Road, Bertrams, at 11am on Tuesday,
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Viewing is available strictly by appointment only.
To book, please contact Debbie Scholes on 011-789-4375 or auctions @ parkvillage.co.za.
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