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14 Dec 2011PROPERTY: Hundreds Of Refurbished Student Apartments Up for Grabs
Recent Gauteng Business News
“There is a significant shortage in quality, affordable student rental accommodation in Joburg, and leaving these arrangements for the New Year may result in students being forced to stay far away from their tertiary institutions or having to settle for sub-standard accommodation,” says Rob Wesselo, managing partner at International Housing Solutions (IHS).
A New Generation of Student Apartments
IHS is the leading international private equity investor in affordable housing in South Africa, and has been steadily building up a portfolio of new generation student housing solutions in the countryÂ’s major urban centres. Contrary to the popular view that student housing is an unpleasant mix between boarding school and down-market apartments, IHS has brought a new vision to the market.
It is currently in the process of refurbishing hundreds of units in downtown Joburg, close to the University of Johannesburg and Wits University, major public transport routes and shopping centres.
HIS Leading the Way with Student Apartments
Previously co-owned by IHS and Aengus Property Holdings, IHS, with its sterling asset management reputation, now holds 100% ownership of the Student Digz property portfolio following approval by the Competition Commission of the sizeable transaction last month.
“Student Digz differs from other student developments in that it is not based on the dormitory-style model. All apartments are self-contained, which means that students have their own bathrooms, kitchens and living spaces, and most importantly, privacy and quiet to ensure successful studies,” says Wesselo.
“Since we have taken over complete control of the management of the development, we have launched a massive project to ensure all maintenance was completed and apartments refurbished where necessary. Lots of time, money and human resources have been poured into ensuring students have great living and studying space for the 2012 intake.
“The result is modern, clean and inviting apartments where students won’t only live, but be able to enjoy a satisfying lifestyle.”
Wesselo says that a new letting office in Braamfontein will open this week, and that prospective students could visit the office or contact letting agent Mafadi for enquiries. He says there are close to 1 900 student apartments available, with rentals starting at R1 800.
Business News Sector Tags: Property|
