1 000 m² Commercial space in Glenwood

Details

16 Bedroom student accommodation available for sale This income-generating student accommodation property currently operates under an approved NSFAS contract for 32 students, with the potential to accommodate an additional four students from next year, subject to approval. At R4,500 per student per month, the property generates R144,000 in monthly rental income. Monthly operating expenses total approximately R63,700, covering rates, water and electricity, student transport, cleaning and security staff, insurance and Wi-Fi. This leaves a net operating profit of R80,300 per month, equivalent to approximately R963,600 annually, based on the current figures and assuming consistent occupancy and expenses throughout the year. The additional four student spaces could generate a further R18,000 per month in gross income once approved and occupied, potentially increasing monthly revenue to R162,000 before any additional costs.The property also offers a second income opportunity during the December and January holiday period, when it operates as a hotel, providing the potential to generate additional seasonal revenue outside the main student accommodation cycle. The combination of an existing NSFAS contract, established monthly cash flow, additional student capacity and seasonal hotel income makes this an attractive opportunity for investors seeking an income-producing property. Based on the current operating figures, the business generates an annualised net operating profit of approximately R963,600 before any unlisted expenses, finance costs and taxes. The net rental yield and return on investment can be calculated once the property''s asking price is confirmed, allowing prospective buyers to assess the return relative to the capital required.Contact Maurice or Humera to schedule a viewing

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