189-Bed Institutional Student Accommodation

Bidding to start from R25,000,000 | Live Auction: 17 March 2026 This institutional student accommodation asset at 18 Ismail C Meer Street comprises 189 beds configured across 101 rooms in 1-bed, 2-bed and 3-bed sharing formats, structured to optimise operational efficiency and revenue yield. The property generates gross annual income of R 7,656,092, derived from student accommodation revenue and ground-floor commercial rental streams. The student component is secured under a per-bed institutional lease aligned to the academic year, providing structured and predictable income. Additional ground-floor commercial units contribute approximately R 539,995 per annum, reducing reliance on a single income stream. Positioned within approximately 800 m of Durban University of Technology, the asset benefits from established institutional demand within a proven student corridor. Key Features: • Gross annual income of R 7,656,092 • Direct per-bed institutional lease aligned to the academic year • 189-bed configuration across 101 rooms • Ground-floor commercial income of approximately R 539,995 per annum • Located approximately 800 m from Durban University of Technology Auction Terms and Buyer Information: • Buyer Costs: 16.5% payable on auction day (10% commission + VAT on commission + 5% deposit towards purchase price) • Registration Fee: R50,000 (live/venue bidders) | R100,000 (telephonic/online bidders) All bids constitute a legally binding offer, and the highest bidder is required to sign the Auction Sale Agreement immediately upon the fall of the hammer; failure or refusal to sign constitutes a breach and results in forfeiture of the registration deposit. The sale is subject to a reserve price unless otherwise stated. The property is sold voetstoots, as-is with no warranties or guarantees, and all bidders must provide valid FICA documentation prior to registration.