Property developer SPC is launching a new apartment building in Stellenbosch offering modern student accommodation. The development, called Edge Stellenbosch, will form part of the Dennesig Precinct, the biggest concentrated development in the history of the town.
The building of Edge is expected to commence in January 2022 with completion by the end of that year or January 2023.
The Dennesig Precinct will be redesigned to resemble St George’s Mall in Cape Town with traffic-orientated development and a focus on non-motorised transport (NMT)). SPC states that it will offer a sophisticated and trendy student hub, with artisan shops, open areas for socialising, landscaping, and more. The multi-billion rand redevelopment, in conjunction with the University of Stellenbosch, will result in a recalibration of property prices in this hub, the developer says.
Shortage of student housing
According to Denis Dunn, owner and principal of Harcourts Dunn, this new high-density precinct in the centre of the university town was earmarked by authorities for the development of student housing.
“There is currently a shortage of approximately 7,000 beds and a growing demand for purpose built student accommodation (PBSA) in Stellenbosch. The home demographics of the average student changed drastically over the past decade. Most scholars from private and top schools in South Africa list Maties as their first choice as study destination. Interestingly, around 5,000 students in Stellenbosch attend other universities and tertiary institutions in the area.”
The Dennesig Precinct aims to accommodate 3,000 students within the next four years, reveals Dunn.
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He adds that security is the number one requirement for students, their parents and investors. “The precinct’s advanced crime prevention strategy will create a safe environment for students and the broader public. With regards to Edge, the latest secure biometric access control and 24hr CCTV will ensure students’ safety at all times.
“The area and walking routes to campus will be monitored with 24-hour security cameras connected to an operational control room, providing a safe environment for students to and from class. Whether you’re in your apartment, the precinct or on your way to campus, security will always be visible,” says Dunn.
Design and amenities
Once completed, Edge Stellenbosch will offer 63 ergonomically-designed apartments, ranging from studio (32m²) to two-bedroom units (45 to 59m²). Dunn explains: “We did in-depth research on the needs and wants of students. Units must be a certain size with a well-defined sleep, play and study zone, and a balcony and storage space are non-negotiable. Students are also tremendously brand conscious, therefore Smeg appliances will come standard with each unit. And of course, a chill zone on the rooftop with spectacular views is a must.”
High-speed Wi-Fi and a management team to ensure that discipline and ‘gees’ are maintained will form part of the development, and a shuttle service from Dennesig via campus into the town centre will begin in 2023.
“If one can get into the value recalibration of this zone as early as possible, you will optimise your capital appreciation and rental yield,” says Dunn. “With a twelve-month rental guarantee, and selling from only R1,395,000, we believe it’s a no-brainer. The ten times oversubscription of first-year applicants remind us of the Ivy League universities in the States. We believe Edge will become the place to live, play and study,” he concludes.