have been built with large-scale occupancy in mind . Looking beyond possible first impressions based on the façade and physical appearance – such buildings can have the capacity to house up to 400 people , while adhering to safety regulation such as having fire escapes in place and adequate plumbing able to deal with this number ,” says Moodley .
Bloemfontein Case Study
Property Facts
• Location : 90 – 96 Zastron Street , Bloemfontein CBD
• TUHF Product : Property Finance
• Original configuration : 78 Apartments
• Configuration upon completion : 78 Shared Apartments
Three apartment blocks managed through a family-owned trust in downtown Bloemfontein , were planned to become innovative shared accommodation catering for up to 300 residents to help meet the increasing demand for cost-effective , secure , and multi-purpose living in one
TUHF
of South Africa ’ s rapidly growing student towns . Five years ago , two friends founded Dimatone Pty Ltd and purchased a house in Bloemfontein close to the university . Ruben Moggee and Theuns Myburgh converted it to student accommodation and the rest , as they say , is history .
The duo wanted to take on a large accommodation project and when they came across the three apartment blocks up for sale , they recognised a keen opportunity to further their ambitions . The three apartment blocks had been with the same owners for 30-years with some tenants living there for the past two decades .
Using our existing properties as collateral , we partnered with TUHF for assistance , despite the challenges posed by the COVID-19 pandemic , we are aiming to launch the accommodation in March this year ,” says Moggee .
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