Opportunity
We are offering a block of apartments nestled in the heart of Pretoria North CBD with 15 spacious 2-bedroom, 1-bathroom apartments, each generously sized and currently catering to the bustling student population. The flats will be offered collectively as one lot.
The units form part of a Sectional Title Scheme and can be sold individually by the Purchaser.
These units are an ideal student accommodation opportunity due to the growing demand for student housing, the central location, and easy access to necessary amenities, medical facilities, and transport routes including public transport.
Property Description
The property has 15 x 2-bed apartments each with a living room, kitchen, and bathroom. The on-site facilities include laundry facilities and ample secure parking available on the property.
Headlease
There is currently a 1-year headlease agreement between the seller and a lessee which started on 1 January 2024 to December 2024, in which the headlease lessee is letting the facility solely for student accommodation. The lessee is responsible for administration, maintenance, and repairs of the building. The tenant is also responsible for the payment for the water and electricity consumed on the premises.
The monthly rental income is R100,000 per month.
The property consists of:
- 15 x Units comprising each of 2 Bedrooms, Living room, Kitchen, and Bathroom
- Communal Laundry Area
- 21 Parking Bays
Area Summary
Pretoria North refers to the general area to the North of the City of Pretoria and includes Wonderboom area to the east of Lavender Road and Akasia to the west of Daan De Wet Nel Drive.
There are various educational institutions, colleges, and universities in the area such as Tshwane University of Technology (TUT) and the Onderstepoort campus of the University of Pretoria Faculty of Veterinary Science which attracts a high density of students. The Wonderboom Airport is also nearby.
Pretoria North is an ideal suburb to stay in. The smallholdings that make up the area have been transformed into a lively neighborhood with hospitals, shopping centers, restaurants, and coffee shops and the area has a sound infrastructure with accessible shopping facilities and amenities.
With transport being its main industry, Pretoria North has two automobile sales corridors in the form of Rachel De Beer Street and Gerrit Maritz Street which are home to over 50 car dealerships. Transport is the core of Pretoria North's industrial activity.
Pretoria North offers easy access to the N4, M1, and R101 for commuters traveling by car to either Midrand, Kempton Park, Johannesburg, Krugersdorp, OR Tambo International Airport as well as Lanseria Airport.
Pretoria North is central to several schools including Laerskool Danie Malan, North Park Primary School, Laerskool Rachel de Beer, Hoërskool Gerrit Maritz, and Laerskool Voortrekker Eeufees.
