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Web Ref CL532
R6,995,000
6 New Street
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The Mews: Multi-Erven Income-Generating Student Accommodation Asset – Central Makhanda
The Mews is a substantial multi-erven estate comprising four erven in central Makhanda, with a total site area of 1,584 m² and approximately 925 m² under roof. The property is currently operating as established student accommodation with integrated commercial food and beverage premises, delivering stable, diversified rental income in a high-demand university market anchored by Rhodes University.
The estate currently comprises 15 operational en-suite rooms generating consistent revenue, with two additional rooms nearing completion. Supporting infrastructure includes an internal courtyard with swimming pool, on-site laundry facilities, two kitchens (one fully operational and one prepared for refurbishment), and a 60-seater restaurant space. An acoustic lounge provides additional communal amenity, while adjacent municipal parking offers approximately 40 bays for enhanced tenant convenience.
With a proven track record of occupancy in Makhanda’s robust student sector, the property provides reliable cash flow from day one and requires minimal immediate capital expenditure to sustain current operations.
Investment Thesis and Value-Add Potential
This turnkey asset presents a compelling opportunity for investors seeking both defensive income and scalable upside. It can continue delivering strong yields in its existing configuration or be enhanced through:
• Targeted refurbishment to optimise rental yields
• Approved densification to approximately 20–24 units
• Repositioning as a premium managed residential complex
The combination of immediate revenue streams, generous land holding, existing infrastructure, and prime central location supports sustained cash flow stability together with significant long-term capital appreciation potential.
The estate currently comprises 15 operational en-suite rooms generating consistent revenue, with two additional rooms nearing completion. Supporting infrastructure includes an internal courtyard with swimming pool, on-site laundry facilities, two kitchens (one fully operational and one prepared for refurbishment), and a 60-seater restaurant space. An acoustic lounge provides additional communal amenity, while adjacent municipal parking offers approximately 40 bays for enhanced tenant convenience.
With a proven track record of occupancy in Makhanda’s robust student sector, the property provides reliable cash flow from day one and requires minimal immediate capital expenditure to sustain current operations.
Investment Thesis and Value-Add Potential
This turnkey asset presents a compelling opportunity for investors seeking both defensive income and scalable upside. It can continue delivering strong yields in its existing configuration or be enhanced through:
• Targeted refurbishment to optimise rental yields
• Approved densification to approximately 20–24 units
• Repositioning as a premium managed residential complex
The combination of immediate revenue streams, generous land holding, existing infrastructure, and prime central location supports sustained cash flow stability together with significant long-term capital appreciation potential.
Features
Zoning
Commercial
Exterior
Security
No
Parking Bays
Open Parkings
40
Sizes
Floor Size
925m²
Land Size
1,584m²
Extras
Accommodation; Bar Counter; Bath, Toilet and Basin; Backup Water; Built in Wardrobes; Built In Braai; Pizza Oven; Water Tank
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