A future-forward development in Stellenbosch is offering savvy investors an opportunity to be part of the regeneration of this historic town, without having to wait years for it to be completed.
Work has already started on The Niche, a 51-unit development located in what is going to be Stellenbosch’s pre-eminent mixed-use precinct within the next few years. “With the opportunity to buy off-plan now, and occupation scheduled for the end of 2020, this is an excellent investment opportunity in a town that is enjoying unprecedented growth,” says Louise Varga, Pam Golding Properties branch manager Stellenbosch.
Plans to upgrade the nearby Adam Tas Corridor, to include mixed-use high-density development, are expected to make Stellenbosch “South Africa’s most important development project”. The objective of the upgrade, as outlined in the municipality’s spatial development plan, is to accommodate the growing demand for a mix of housing options in Stellenbosch. One of these identified as a priority by the plan is additional student housing.
Student accommodation is always in demand in a town where more than 30 000 students – many of them from afar – register each year. Situated in Dennesig close to campus, The Niche will be one of several new student developments to be built over the next few years; transforming this area into a vibrant student hub.
“Given the high rental demand for accommodation close to campus, and growing numbers of students registering each year, The Niche provides a sound investment opportunity for investors looking for solid year-on-year capital growth,” says Varga. Also, parents wanting secure accommodation for their children during the academic year will see the value of buying in a modern development, within walking distance of the university.
Contemporary in design, The Niche offers premium apartments with quality finishes and fittings, ideal for a student’s needs. Perimeter CCTV and an electric fence provide comprehensive security, and there is off-street parking with remote control access.
With bachelor, one, two- and three-bedroom units, starting at R1.45 million including vat, The Niche is the ideal buy-to-let investment. Adds Varga: “At about R34 600/m2 for a three-bedroom unit, The Niche is the most value-for-money, off-plan development on offer in Stellenbosch.”