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Stellenbosch student units launched

15 Jun 2007

Living up to a promise made by its CEO Riaan Roos last year to maintain development activities at a fast pace, MSP Developments, the five year old Cape developers, are going ahead with a R18,5m project in Cloetesville, Stellenbosch.

Known as Mulberry Place, the new development will be just 1,3km from the university campus and, therefore, ideal for students – especially those comfortable with living in a predominantly coloured area – and this is the market which MSP is targeting. The response to this has been so good that by April, six weeks after the launch, 80% of the units had been sold

All the 44 units will be in a single three storey building in which all the apartments will have one or two bedrooms, a living room, a bathroom and a kitchenette with an oven and a hob. Floor areas will vary from 36 to 65sq m. Shaded parking bays will be provided for the majority of residents but MSP are also building 22 garages.

Full security fencing and a controlled entrance will be provided. The prices have been pitched from R399k to R599k and a monthly levy of ±R300 will be payable. A deposit of R5 000 secures a unit.

Jaco Maritz, MSP's Marketing Manager, said that one reason for the quick take up is that MSP has a large, very loyal client base whom they contact regularly by email and who have often invested in several MSP projects. This group, he said, has traditionally bought about 40% of all units brought on stream by MSP.

"Here at Mulberry Place, our clients appreciate that, with most students these days able to pay R1 500 or more per month for their accommodation, these apartments are an excellent investment – among the best we have ever brought to the market. Many will cover their bond repayments from an early stage." Building work has just begun and occupation will be given in December 2007.

For more information contact 082 453 2576 or send an email.

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Stellenbosch student units launched

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