From R 829 000 to R 1 500 000
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Duncan Court, Hatfield, addresses shortage of student accommodation while offering investors a good return.
Costa Zervas Projects, an established developer in Tshwane with extensive experience in residential and commercial developments, has launched a new residential offering in Pretoria’s cosmopolitan suburb of Hatfield. Duncan Court is intended to meet the shortage of decent accommodation for students and young professionals.
Research has shown that there is a dire shortage of student accommodation across the country and Pretoria is not unique. According to recent news headlines, the shortage of student housing and lack of quality accommodation is reflected in students’ exam results.
A report released by the Department of Higher Education and Training in September 2011, on the provision of student housing at South African universities, highlighted a significant shortage of on-campus student accommodation nationwide. It emphasised that accessible, decent, safe and academically conducive student accommodation was crucial to the quality of our higher education system and the success of students.
The report found that in 2010, the University of Pretoria (Tuks) could only match 18.3% of its enrolled students with on-site beds (7 650 bed supply for 41 796 enrolled students). Similarly, the Tshwane University of Technology (the Pretoria, Nelspruit and Witbank campuses) could only provide 4 340 beds for its 36 993 enrolled students. The shortage of student accommodation has seen the emergence of privately owned student residential buildings, such as City Edge in Cape Town and Urban Nest student communities in Gauteng, to catch some of the overspill by supplying and managing purpose-built, off-campus residences for students with modern amenities.
“The findings confirm that there is a gap in the market for affordable and safe student accommodation”, says Kent Gush of Kent Gush Properties, appointed principal marketing agent. “The shortage of student accommodation at Tuks, the number three university in South Africa, according to the Webometrics ranking of world higher education, will ensure on-going demand for this type of property, assuring buyers and investors of an excellent return. Private investors are buying properties near the universities, either for their own children or with a view to buy and let.”
Targeting the student market and young professional with access to a safe, convenient and lock-up-and-go lifestyle, Duncan Court will comprise 11 storeys of 480 studio and loft one- and two-bedroom apartments on the upper levels. Situated along Park Street just off Duncan Street, it is ideally located near Tuks and within walking distance of the new Hatfield Gautrain Station, making accessibility to nearby amenities, arterial routes including the N1 highway, and OR Tambo International Airport and Johannesburg via the Gautrain, an appealing vantage point.
There would be little need to use a car when residing in Duncan Court, other than for recreational and business travelling. At this new address, young professionals, students and business persons can move around the various Tukkies campuses, the Pretoria suburbs and between Centurion, Sandton and OR Tambo, as well as access the Gautrain with ease . This new trendy living development is also ideal for people working in Johannesburg and wanting to reside in Pretoria.
Numerous smaller-scale private accommodation developments targeting the student market already exist along Park Street, providing future Duncan Court residents with an existing student residential hub.
CEO of Costa Zervas Projects, Costa Zervas comments, “We foresee Duncan Court attracting buyers, in particular, parents looking for secure student accommodation, young professionals who work in the area, individuals living on smallholdings who want a base in town, as well as property investors. Duncan Court’s trendy apartments offer investors a secure profitable investment with a positive return guaranteed. There will be no shortage of tenants to rent the premises. Parents investing in their students’ future can be at ease knowing their son or daughter resides in a safe environment – a home away from home, but at the same time integrated with student life.
Duncan Court will have one basement level for parking, as well as additional parking on both the ground and first-floor levels. The ground floor will also accommodate conference facilities, as well as a restaurant. Security features include a 24-hour manned guard house, as well as security camera surveillance. Rainier Snyman of Studio3 Architects comments, “Duncan Court is destined to become a well-known, enviable address. The architecture and interior design reflect modern, contemporary trends and offer both durability and quality.”