July 8 2024 19:05
Growthpoint Properties’ (JSE: GRT) purpose-built student accommodation developments performed well
at the recent SAPOA Property Awards in Innovative Excellence, winning two prestigious categories
that recognise development distinction within the real estate industry.
Peak Studios in Observatory, Cape Town, was awarded top place in the Heritage category and Apex
Studios in Braamfontein, Johannesburg, won the Student Accommodation Award.
The two award-winning student residences were Growthpoint’s first foray into developing purpose-built
student accommodation.
Estienne de Klerk, SA CEO of Growthpoint Properties, said: “We are delighted to be recognised
for development excellence by SAPOA. The accolades underscore Growthpoint’s ongoing commitment
to providing space to thrive with innovative and sustainable solutions, and student accommodation
development inherently contributes significantly to societal good. We have built our internal
development expertise to deliver turnkey developments for Growthpoint, the co-owned portfolios
under management by Growthpoint Investment Partners and third-party owners.”
Both Apex Studios and Peak Studios are part of the Thrive Student Living by Growthpoint portfolio.
They opened for the 2023 academic year and have surpassed expectations, achieving 100% and 98%
occupancy rates respectively, demonstrating instant commercial success as well as quality
development.
“With strong demand, we have acquired a further three sites that Growthpoint’s multi-award-winning
development team will complete for the 2025 and 2026 academic years, two near Wits University and
one at the University of KwaZulu-Natal,” said Amogelang Mocumi, Fund Manager of Growthpoint
Student Accommodation Holdings.
Peak Studios houses 563 students in a new nine-storey residence that repurposed a heritage building to
serve the surrounding University of Cape Town and other private institutions of higher education. The
property comprises two buildings: a new, multi-storey residential building inspired by the older
heritage building facing Main Road. The new residence building reflects a contemporary interpretation
of the existing building’s geometry to create a unique addition to the area.
The offices, communal areas, gym, laundry and study areas are in the heritage building, which
seamlessly ties into the new residential building on the ground floor. The main circulation area spills
out onto an interior courtyard, extending the space for exercise and relaxation to the outside. Hugging
this larger green area, the new building creates various safe, inspiring interior and exterior spaces for
studying, gathering and living.
Apex Studios houses 901 students over 13 storeys in a new residential building which consists of a
variety of unit types, each with a private shared bathroom and kitchen lending itself to an apartment
style of living. As part of its development, an existing heritage building on the site was restored
externally and extensively refurbished internally to house all the unique common spaces such as the
study centre, lounge areas, games room and gym. A standout feature of Apex Studios is its prime position directly opposite the main University of the Witwatersrand campus.
“The location of a student housing residence is crucial for ease of access to campus but it is equally
important to locate the residence in an area well suited to a student lifestyle. The aim is to create an
environment that allows for a community to develop, where students feel at home in their units and
where communal spaces nurture learning, collaboration and innovation,” said Mocumi.
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