Property description

Walk across Peter Road to Monash University in Ruimsig from this strategically positioned property of 9,485m² in extent, which has been rezoned from Residential 1 to Residential 4 and consolidated as Erf 539 Ruimsig. The property is at proclamation stage, the rights permitting 140 units at a building height of 4 stories with an FAR of 1 and at 50% coverage . One could potentially accommodate 280 beds (based on typical sharing pattern), with 112 covered parking bays.( One parking bay per 2,5 beds).It is currently situated next to new student Housing development. There is a house on the property that provides a current rental of R18,000/month from the existing house (ultimately to be demolished). There is 3 phase power available and council water is in place. Bulk Contributions have still to be payed. 

We know that there is a desperate shortage of Student accommodation in South Africa. It is estimated that there are about
500,000 beds short due to a huge increase in the number of tertiary students in South Africa, plus student enrollment growth has increased. The Private Sector needs to respond to the shortage of private student accommodation and hence the opportunity that
presents itself. 

This could be an ideal “Thriving Student Living Project Opportunity. There is opportunity and there are challenges. A development here could easily be done to comply with the requirements of the Minimum Norms and Standards set down by the NSFAS. Part of the National Development Plan is to raise the number of Tertiary Students in South Africa to 1,6 million by 2030. Purpose-built student accommodation (PBSA), also known as student halls or residences, are specifically designed and built for university students, typically offering amenities like gyms, communal areas, and study spaces, often managed by private companies.  

The site is perfectly located on Peter just off Hendrick Potgieter Road and next door to the Roodepoort Country Club. Hendrick Potgieter Road is significant for access and egress in the Ruimsig area for several reasons: 

It serves as a primary route connecting various suburbs, making it essential for local and regional traffic. The road links Ruimsig to other important areas in Gauteng, including nearby suburbs, business districts, and recreational spots. This connectivity is crucial for commuting. The road is often used by public transport services, including buses and taxis, facilitating mobility for those who rely
on these options. Because it is a major arterial road, using Hendrick Potgieter Road can significantly
reduce travel time compared to smaller, less direct routes. The road is generally well-maintained and designed to handle heavy traffic, contributing to safer travel conditions compared to more residential streets. Its straightforward layout makes it easier for drivers to navigate, especially for newcomers or those unfamiliar with the area. Hendrick Potgieter Road connects to major highways (like the N14), providing seamless access to broader Gauteng and beyond.

There are definite pros like cost sharing, to the concept of developing student accommodation. Sharing a house with other students can make living expenses more affordable, as rent and utility costs are split among the residents. Living with housemates provides a social environment, offering companionship and support. As the CBD of Johannesburg g expands more and more, areas around it have seen growth, demands for housing, areas such as Ruimsig, Honeydew and Mid-rand. Roodepoort has long befitted from the construction of townhouse complexes and estates such as Featherbrooke Estate and Ruimsig Country Estate to accommodate commuters. Today it offers a combination of freehold and sectional title properties to suit a variety of tastes and pockets.

Ruimsig itself offers a mix of suburban living and natural beauty, home to several good schools and recreational areas. It is known for its quiet streets and family-friendly environment, is a great choice for student accommodation for several reasons such as being close to to several universities and colleges, making it convenient for students to commute to classes. The area offers more affordable rates compared to urban centers. It is known for its tranquil surroundings, which can be conducive to studying and focusing on academic work. The neighborhood has essential amenities like grocery stores, cafes, and restaurants, providing students with easy access to daily necessities. Good transport links make it easier for students to travel to nearby areas and institutions, enhancing mobility. Proximity to parks and recreational areas allows students to unwind and engage in outdoor activities, promoting a balanced lifestyle. The friendly community atmosphere can help students feel more at home and provide opportunities for socializing and networking. Ruimsig tends to have lower crime rates compared to some other areas, which is important for students and their families. Overall, Ruimsig combines convenience, affordability, and a supportive environment, making it an attractive option for student accommodation.