This spacious 5567m2 property is perfect for an investor looking to develop a residential complex.
The approved scheme allows for a total of 11 units, with one unit per 500m2.
The property currently has an existing house, which is roughly 230m2, and a freestanding double garage with servant's quarters. The intention is to convert the existing house into two units, with each unit having 3 bedrooms or 2 bedrooms and 1 study, a full common bathroom, and 1 en-suite. The units will also feature an open plan lounge, kitchen, and dining room, a double garage, a laundry, and a veranda at the front.
In addition to the existing house, the property will have 6 new double-story units, comprising of 3 bedrooms or 2 bedrooms and 1 study, a full common bathroom, and 2 en-suites.
These units will
also feature an open plan lounge, kitchen, and dining room, a double garage, a laundry, and a veranda at the front and back. The first floor of the new units will have 2 bedrooms, a full common bathroom, and 1 en-suite.
Please note that municipal submission fees, the final plan proposal, engineers/geotechnical design, and all other associated fees/costs are excluded.
The property is in a closed corporation named Royal Consortium, with the sole member being the owner of the property. The property also comes with R250 000.00 worth of bricks on site, which will be included in the sale should the full selling price be achieved. The existing house is tenanted with a rental income of R10 500.00 per month, making this an excellent investment opportunity.
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