Luxury student development The One, sees R437m investment on launch day; 209 units sold
Sold Property data for Stellenbosch Central is off the charts after launch day sales at The One broke the average yearly Sectional Title Unit sales, in just one day! Here’s why these units are being snapped up at a rate of knots.
The One, South Africa’s newest luxury private student residence close to prestigious Stellenbosch University, has investors and students abuzz with its upmarket feature-rich offering.
In an online launch, sales for The One went live on Wednesday, 26 October at 12:00 midday, selling 209 units on the day, amassing a total investment of over R430 million. More units were sold in one day at The One than are typically sold in the entire year in Stellenbosch sectional title units!
“Demand for student accommodation is at an all-time high, and investors are serious about securing this unmatched private residence offering in this secure asset class. We had at least eight buyers put down almost R10mil each to secure five units in order to be able to take advantage of the lucrative Section 13sex tax deduction.”
Property24 trends data shows that the average sold price for studio and 1-bedroom apartments in Stellenbosch Central are R1,81mil and R1,817mil, respectively.
The One’s apartments start from R1.55mil and range in size from 23m2 to 150m2. The most luxurious two bed unit with wrap around balcony was sold on launch for R5,75mil
Amenities that include a resort-style pool, adaptive outdoor entertainment, landscaped courtyards, purpose-designed study centre and lifestyle-centric relaxation areas, make The One a highly competitive investment in a class of its own.
The Developer adds that a further R40m has been raised by Development Contributions and is earmarked to enhance the precinct and take it to the ultimate level in terms of security and walkability. This upgrade will coincide with the construction of the development and will be completed prior to the occupation of the development.
“Pedestrianized spatial urban planning, already reshaping neighbourhoods in the likes of Paris and Milan, will transform this precinct into a student utopia.
“The One’s lifestyle design will seamlessly overflow through to its surrounding areas with ‘hyper-proximity’ to beautifully landscaped sidewalks and recreational areas, key services, shopping, and a variety of entertainment options, all accessible on bike, foot, and a bespoke shuttle service running between the precinct and the university will be operational.”
Stellenbosch, with a 30 000-strong student population, is an ideal real estate market with high demand for secure purpose built student accommodation that will continue to grow in value. The One’s interactive price list and pre-bond approval services makes it easy for investment, visit the-one.co.za to find out what the hype is about.
