Aiming at the young
Students help drive housing market in university town
THE Western Cape town of Stellenbosch is wellknown around the globe for its beautiful scenery, wine farms, historical buildings and educational institutions.
As the second-oldest and undoubtedly one of the most scenically attractive and historically preserved towns in the country, Stellenbosch is situated just 30km from Cape Town International Airport and is home to one of the most prominent wine regions in the world.
One of the biggest tourist attractions in the Western Cape, the original Stellenbosch Wine Route was founded in 1971. But wine and the town’s history — which is reflected in its showcases of neo-Dutch and modern Victorian architecture — aside, Stellenbosch is also home to a worldrenowned university.
The university is continuing to drive demand for sectional title property in the area, which is evident in the fact that The Acorns at Stellenbosch, a new development from Rawson Developers, is set to be sold out well before work on the site is completed in February/March next year.
Paul Henry, MD of Rawson Developers, says that they have already passed the 50% sales point. “This means we have now received their bank finance and will be moving onto the 2,090m² site on the corners of Hoffman and Dennesig Roads in early September.” Their first task will be to demolish the two small semi-obsolete single-storey homes already on the site they are taking over.
The Acorns will have three residential levels supported on columns, leaving the ground floor open for parking. Each unit will be allocated one parking bay, about half of which will be undercover.
On the three elevated floors, which will be accessed by a lift, there will be 42 units in all. These will all be one-bedroom and, says Henry, will be relatively spacious in comparison to most new single bedroom accommodation in SA today. They will vary in size from 38m² to 47m².
“As in all Rawson Developers’ projects,” says Henry, “the finishes will be superior to what is usually provided in this price range. The units will have sophisticated down-lighting, granite countertops, very large floor tiles and quality carpeting or laminated flooring. The cabinets will be fronted in wood grain finishes in various colours. The layouts of the apartments will be open-plan and each unit will have a small balcony, which, from the exterior, will add interest to the façades.”
The building will be one of the relatively few to be fully accessible to disabled people in wheelchairs.
In addition, each floor will have an open covered terrace with a Jetmaster braai.
Trevor Weston-Green, Rawson Developers’ property development analyst, is bullish about the capital growth prospects of The Acorns units. “Stellenbosch properties always show an ability to outperform most South African property and this is particularly true of student accommodation, which is very much ‘in’ for property investors right now. I think we can expect a growth rate close to or into double digit figures in the first two or three years.”
According to statistics from Lightstone, a property data provider, around 82% of property in Stellenbosch is sectional title units, which so far this year have had an average selling price of just over R1m. More than 50% of the sectional title units sold between August last year and July this year were priced between R800,000 and R1.5m. Price: From R900,000 to R1,109,990 Contact: Rawson Developers Trevor Weston-Green 082 783 4393