Sea Point student apartments could bring in profitable rents

WITH student accommodation currently regarded as one of the most secure forms of property investments on the South African market, student apartments in Sea Point should attract strong bidding when Rawson Auctions stages its month-end multi-property sale. On offer on October 30 at noon will be three units in the sectional title scheme Jessica Court, at 19 Hall Road in Sea Point.

These properties, to be auctioned as separate lots, are ideal for investors as affordable accommodation in places like Sea Point is in high demand, says Tanya Jovanovski, franchisee of Rawson Auctions Western Cape.

“The properties, currently let as long-term student accommodation, comprise two six-bedroom apartments and two apartments consolidated into one spacious flat with nine bedrooms. Currently each bed in the apartments is being rented R5 000 a month and an additional R400 for water and electricity,” she says.

The two six-bedroomed apartments, providing accommodation for up to 12 people in total, both cover 111m² and include three bathrooms, a lounge, and kitchen. The units have additional storage space, secure basement parking and access to a spacious courtyard.

The nine-bedroomed 219m² consolidated apartment, which sleeps up to 16, features five bathrooms, openplan living areas, two kitchens and two parking bays. “The bedrooms have dry wall and room divider panel partitions. On transfer, the new owner will need to have plans approved for the alterations that were done.”

The three apartments will be auctioned at the Rawson Group offices at 222 Main Road, Rondebosch, with a reserve price of R3.8million for each of the six-bedroomed units, and R7.2m for the nine-bedroomed unit, but all offers will be considered.

Rawson Auctions’s purchase-offer forms can be obtained by emailing auctions.info@rawson.co.za or calling 079 980 3457. For more details and viewing arrangements, call Ilda Santiago on 084 762 7195 or Dave Stevens on 0832610336. – Auctions Writer

A view of the courtyard at Jessica Court ,where three student accommodation apartments are on offer from Rawson’s on October 30.