Varsity Lodge is a unique investment to overcome the accommodation problems
of students at the PUK. The strict precautions taken with lodging at the
university's hostels have caused a sense of uncertainty amongst students
about their lodging for the next year of studies.
The number of students at the PUK has increased dramatically from 2001 to
2002 and this growth is expected to continue for 2003. There is a shortage
of accommodation for the current students, not to mention the new student
applications.
The aim of this development is to create an atmosphere where students can
enjoy their academic and social lives to the full. (Varsity Lodge is within
walking distance from the University and the "Bult" - the gathering place
of the students).
Varsity Lodge is 161 units that consist of one and two bedroom accommodation
as well as under-roof parking for each student. There is 4 blocks with a
courtyard and garden so students can relax in safety. The main entrance
to each block is controlled by security control. Furthermore there are high
security walls with an intercom system, separate laundromat, swimming pool
and lapa.
Construction of the first phase of 48 units will start in July 2002 and
will be ready for occupation on 1 February 2003.
The units are spacious and comfortable - equipped with an electrical pay
meter and a computer point for internet access. Investors are being offered
two methods by which to acquire accommodation for their children.
- Varsity Lodge are being sold as a sectional title
from R 149,000 VAT and transfer included. This
is for a one-bedroom unit with under-roof parking.
- The investor can alternatively purchase term
based accommodation rights. These units will be furnished on request
and sold at a fixed amount from R 53,650 for
4 years or other terms to suit the student's needs. The accommodation
rights protects the investor against future price increases, but also
offers the opportunity to sell or rent the unit during the period as the
family's needs changes.
The investor will pay a levy of R
198-00 p/m because the renting company will do the maintenance. The
rented units will be furnished at an extra cost.
The developer plans to turn this project into an outstanding complex in
Potchefstroom. You can reserve a unit now by simply signing a purchase-deed
and paying R 5,000-00 secure
deposit. Buy or rent now to prevent future disappointment. |
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