100 Bed Premium Student Accommodation

About this property

13 Chiselhurst Drive, Rossmore is a purpose-built, 100-bed student accommodation asset offered to the market by public auction, located within minutes of the University of Johannesburg's Kingsway Campus. The development comprises approximately 2,038 m² of Gross Lettable Area on a 1,872 m² erf, zoned Residential 4. Facebrick construction offers long-term durability and reduced external maintenance. The property is supported by an on-site borehole as the primary water supply, secure access-controlled accommodation, communal kitchens, and commercial laundry facilities.

Executive summary

Bidding to start from	R30,000,000
GPS Coordinates	-26.1871, 27.9986 (approx., street-level)
Erf	Erf 113, Rossmore Township, Registration Division I.R., Gauteng
Erf Size	1,872 m²
Gross Lettable Area (GLA)	2,038 m²
Beds	100
Zoning	Residential 4 (Amendment Scheme 20-01-4832)
Rates & Taxes	R75,706 per annum (see Annual Operating Performance)
Current Occupancy	99 of 100 beds tenanted (1 caretaker unit)
Annual Gross Income (GLI)	R6,600,000
Adjustments	R5,868,847
Water Supply	On-site borehole (primary supply), municipal connection retained as backup

Key investment highlights

✓ Gross Lettable Income (GLI): R6,600,000 Annual Rental Income
✓ 100-Bed Premium Newly Completed Student Accommodation
✓ Brand-New, Fully Inclusive Purpose-Built Student Accommodation
✓ Prime Rossmore Location, Minutes from the University of Johannesburg
✓ Secure Access-Controlled Student Accommodation
✓ State-of-the-Art Commercial Laundry Facilities
✓ Established Student Accommodation Asset Class with Strong Occupancy and Consistent Demand
✓ Diversified Rental Income Across 100 Student Beds
✓ 2,038 m² Gross Lettable Area (GLA)
✓ 99 of 100 Beds Tenanted, Near-Full Occupancy from Date of Transfer
✓ Newly Installed Borehole as Primary Water Supply
✓ Residential 4 Zoning, High-Density Residential Development Rights
✓ Modern Shared Kitchens and Communal Living Areas
✓ Landscaped Atrium Gardens and Student Social Spaces
✓ Excellent Access to Public Transport, Retail Amenities and Major Transport Routes
✓ Registered Corporate Ownership with Clean Title
✓ Landlord-Borne Electricity Cost Presents a Clear Opportunity to Add Solar and Reduce Operating Expenses

Auction Terms

Registration Fee	R25,000 refundable deposit via EFT payable prior to auction. No cash accepted.
FICA	ID, proof of residence, and letter of authority required to sign on behalf of a juristic entity.
Purchaser's Deposit	5% of purchase price payable immediately on fall of the hammer. Non-refundable.
Commission	7% + VAT over and above the bid price, payable by the purchaser. Non-refundable.
VAT / Transfer Duty	Seller VAT registered. VAT or Transfer Duty payable as applicable.
Confirmation Period	5 business days
Guarantee Period	Within 30 calendar days from acceptance
Transfer Attorney	AR Mahomed Attorneys
General	CPA 2008 applies. Rules of auction available on request. Auctioneer may bid to reserve. Subject to change without notice.

In accordance with industry best practice, Aldes Auctions will present the seller with the highest bid achieved at the auction for acceptance and will not accept any counter offers during this confirmation period.