Pembury Lifestyle Group, the JSE’s third listed schools group, has acquired a property in Carlswald, Midrand with the aim of increasing its current portfolio of 19 schools.
PLG Schools, which forms part of the Pembury Lifestyle Group, listed in the Specialised Consumer Services sector on the JSE’s AltX board at the end of March.
PLG Schools is focused on building mid-sized campuses with 600 to 1,200 learners per school and no more than 25 learners per class.
Pembury said that the acquisition is in line with its stated intention of acquiring three properties during 2017, to enable the opening of at least three new campuses in 2018.
The company has already secured the first school for 2018, namely PLG Greenhills Academy, based in Randfontein and this is the second property acquisition as planned for 2017.
The PLG Carlswald Academy will be open in 2018 and will comprise three additional schools being a Pre-Primary School, a Primary School and a High School, Pembury said.
The property will be expanded over time to a capacity of 1,200 students from grade 000 to Grade 12.
With the addition of the PLG Carlswald Academy, and including PLG Randfontein, the PLG Schools division will grow in 2018 from seven to nine campuses and 19 to 25 schools, with a future potential capacity of 9,000 students.