Versatile Investment Property in Annadale – Ideal for Student Housing or Mixed-Use Development

Unlock the full potential of this expansive, income-generating property located in the vibrant Annadale area of Polokwane. This well-maintained complex includes 24 units, a large warehouse, and offers a unique opportunity for both immediate rental returns and future development.
Currently, the property includes 18 one-bedroom flats, 6 retail units, and 1 two-bedroom flat – all situated in a location that’s perfect for residential or commercial use. Its standout feature is the potential to convert each unit into 4-bedroom student accommodations, allowing for up to 96 student beds in total.
Property Breakdown
• 18 x One-Bedroom Apartments
• 6 x Ground-Level Shops (Retail tenants in place)
• 1 x Two-Bedroom Apartment
• 1 x Large Warehouse/Storage Facility
• All 24 Units Can Be Reconfigured to suit student housing demand
Floor Area Overview:
• Front Section: 720 m²
• Middle Section: 720 m²
• Warehouse Area: 300 m²
This layout provides ample space for reimagining the use of each structure, from high-density residential to hybrid commercial setups.
Rental & Revenue Details:
• Current Net Income (Excl. VAT): R1,480,152.00 per annum
• Net Income (Incl. VAT): R1,517,772.00
• Selling Price (Excl. VAT): R15,000,000.00
• Selling Price (Incl. VAT): R17,250,000.00
• Net ROI: 9.87%
What Makes This a Great Buy?
• High-Demand Location – Close to major educational institutions and amenities
• Flexible Zoning Use – Perfect for student accommodation, commercial ventures, or both
• Stable Existing Tenancies – Retail and residential income already in place
• Expansion Opportunities – Large warehouse space can be adapted for more units or business operations
Don’t miss your chance to own a property with solid returns and long-term growth prospects. This is a rare opportunity in a sought-after location.
Contact us today for more information or to schedule a viewing.