As a major player in the rejuvenation of Johannesburg’s inner city for the last four years, Aengus Property Holdings identified a dearth of decent student accommodation. Parktown Views addresses this issue by servicing students with cost effective quality living, while offering an exciting product to the savvy investor. Richard Rubin, CEO of Aengus Property Holdings, says that investors are able receive net returns of 11% on rentals on the purchase of a unit in Parktown Views.
He comments that the calibre of students who have let the apartments in Parktown Views has been remarkably high, with many consisting of international students and those sponsored by various governmental bodies or corporate companies and associations. “The significance of the letting profile for the investor is that rentals in Parktown Views are coming from institutions rather than individual occupants, which means that in most cases, a full year’s rent is paid upfront rather than on a month-to-month basis,” says Rubin.
Rubin attributes the high calibre of students and the feverish interest in Parktown Views to the value added propositions on offer. The development’s competitive difference is that it offers students a complete and sought after lifestyle experience in its trendy and comprehensive package of services. Set to change the face of student accommodation, Parktown Views consists of 71 contemporary furnished apartments, with everything that a discerning student would require - from Wi-Fi access and a satellite TV on a plasma screen in every room, to 24-hour security and an intercom linked to each unit. An additional lifestyle benefit for students in Parktown Views is that they will qualify for the Aengus Lifestyle card, which provides discounts and other advantages with the company’s retail partners.
There are numerous educational facilities in and around the Johannesburg inner city area, including Witwatersrand University, Damelin, the University of Johannesburg and currently 72 educational facilities in Braamfontein. Conveniently located at 83 Klein Street, Johannesburg, Parktown Views offers its tenants free daily transport to all of these facilities. Rubin noted that the development’s location will ensure continued rental interest in years to come.
Another compelling draw card for investors in Parktown Views is that they will benefit from Aengus’ wholly-owned subsidiary, Aengus Property Management, which offers a wealth of experience in managing properties. This means that the building and any related maintenance will be well looked after, and in addition, investors are ensured of the timeous collection of rental monies.
Rubin states: “Students will be able to attest to the convenience and cost savings of living close to their places of study, and astute investors would do well to capitalise on this tremendous demand. The differentiating factor in Parktown Views is the superior quality of the apartments, lifestyle benefits on offer for the student, reputable and proficient management services and of course the high standard of student tenants we have already secured.”
Parktown Views is a joint venture between Aengus Property Holdings and JSE-listed ApexHi Properties
