The future of student accommodation : the development potential of accommodation in the Hatfield Student Village

Abstract

Over the past decade, the demand for student housing in the Hatfield Student Village, situated between the Hatfield and Hillcrest campuses of the University of Pretoria, has grown to a point, where the demand greatly overshadows the supply. Local developers, who recognised the need for housing among students, have made great progress in filling this gap. It has come to a point, where the University of Pretoria has the second largest supply of student housing in South Africa, after the University of Cape Town. This study has sought to determine whether there is still development potential for student housing in the Hatfield area, and also to develop a 10-year masterplan for the future development of accommodation in the Hatfield and Hillcrest areas. Prominent development companies in the student-housing industry were contacted; and interviews were conducted with 8 high-ranking individuals in 8 different companies. The interviews determined the developers’ appetites for the further development of student accommodation in an area, which is already highly competitive. Interviews were also conducted with various role-players in Hatfield, such as the CEO of Hatfield CID, as well as prominent Estate Agents working in the area. Further data were collected on the various occupancy levels in the existing student accommodation, in order to determine the need for future development. The results showed that developers have developed the area to supply about 11 315 beds to the market. With 4 178 beds in line to enter the market within the next 5 to 10 years, the supply will be much larger than the demand. Opportunity must be given to the economy to recover; and thereafter, further development of student accommodation must concentrate on providing units for low-income students. A 10-year masterplan, divided into short-, medium- and long-term time periods, provides a potential road-map to follow, for the future of student accommodation in the Hatfield Student Village. The plan elaborates on future development and the type of development, which would ensure a successful student community for the University of Pretoria.