- 4 593 m2
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Property description
A development opportunity like few others that will ever become available in the sought after and super central suburb of Kelvin. 2 plots of land with a total size of around 4600 sqm is now available for purchase, paving the way for potential development opportunity of clusters or apartments to be built in the spaces.
With town planning in the locality suggesting up to 40 units that could be built on the property, there is ample opportunity for an investor to acquire this and turn the opportunity into an extremely viable development pursuit. It is also possible to buy one of the plots on the property instead of both, depending on what individual clients needs are.
The properties are currently zoned Res 1, and would need to be consolidated and rezoned in order to have development take place. Conversations about the current owners bringing equity to the table via the land are possible, with the preferred option being a complete buyout of the land portions from the current owners. One of the plots is already completely vacant land, while the other property has a structure on it which initially had the demolition work commenced on it, so is effectively a shell.
The properties are in a good location in the Kelvin suburb, with ample opportunity to provide for an entry gate and an exit on the other plot. The Masjid (Mosque) is also less than 500 meters away, lending itself to the clientele, potential tenants, or any purchasers of the development who will also benefit from this placement.
Access to the M1, N1 and N3 freeways in 5 minutes, in addition to the fact that there are countless amenities within a 10 minute drive maximum make for even more benefit having this property. These amenities include Sandton City, Woodmead, Mall of Africa, Busamed and Morningside Medi-clinic, as well as a host of schools and entertainment facilities.
This one a kind opportunity presents an opportunity like very few seen in the area for decades, and we can’t wait to take you there!
Property Details
- 1 Flatlet
Property Features
- Balcony
- Patio
- Pool
- Staff Quarters
- Entrance Hall
- Paving
- Garden
- Family TV Room
| Erf Size | 4 593 m2 |
Contact the Agent
Bulelani Mageza
Full Status Property Practitioner