Wits property asset up for sale to fund education access
Request for proposal (RFP) documents for approved bidders for development of the University of the Witwatersrand’s (Wits’) Frankenwald Estate, a 290 ha tract of land close to the Gautrain Marlboro station and Linbro Business Park, Johannesburg, will be made available in January.
Wits Vice-Chancellor Adam Habib said that the development of this land would provide the university with an additional and alternative income source that would benefit the university – and its poorer students in particular.
The university council approved recommendations received from the appointed Frankenwald task team and established Wits governance committees, in terms of which bidders were approved to participate further in the next stage of the project.
Wits’ council had also opted to hold over any offers received for the outright purchase of Frankenwald, until the appointed Frankenwald task team had completed its evaluation of development proposals received from the shortlisted bidders.
The council highlighted that the City of Johannesburg had expressed interest in Frankenwald and had asked the council to inform the shortlisted bidders of its interest, and to be updated on progress in this regard, as part of the RFP process.
Wits' objective is to increase revenue from this project to support its long-term sustainability and academic vision, including creating greater access and support for students.
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