Prime Residential Development Opportunity in High Growth Node

This prime VAT registered residential development site presents an exceptional investment opportunity, with the purchase price exclusive of VAT. Zoned Residential 4, the property allows for development of up to seven storeys with a FAR of 4.0 and a density of 35 dwelling units. Coverage permits full basement development and up to 80 percent on all other floors, offering excellent flexibility for a high yield project. Municipal contributions have not yet been paid and are estimated at R3.4 million rand if the full zoning potential is utilised, with reduced costs applicable for smaller scale developments.

The property is offered with architectural plans for a 35 unit apartment building fully aligned with current zoning. A geotechnical survey has been completed, and Phase 1 and Phase 2 consulting engineer reports are available. An alternative concept for five four storey townhouses is also included, providing a different development approach without the need for basement parking.

All existing professional appointments, including architects, engineers, and town planners, will be transferred to the purchaser, with the option to renegotiate outstanding agreements. Positioned on a prominent and high visibility street within a rapidly growing and sought after metropolitan node in Johannesburg, this is a rare opportunity to secure a well prepared development site at an attractive price point.