Verified Listing
Posted on July 19, 2018 / 87
Price : R19,600,000
Listing Type : Property
Location : Gauteng
Ref. No : 2464
Net Profit : N/A

Here is an opportunity for a developer to purchase 2 prime and neighbouring properties measuring 4.302 M² and 2.826 M² respectively or for the astute individual to re-locate to this sought-after area.

Property A Specifications Overview:
Has a building measuring ± 900 M² under roof with 5 bedrooms all en-suite, 6 bathrooms (excluding the domestic bathroom), 4 other rooms which can be used as offices. There is a large swimming pool as well as 2 garages.

Property B Specifications Overview:
Has a building measuring ± 800 M² under roof with 5 bedrooms, 3 bathrooms (excluding the domestic bathroom), 5 other rooms which can be used as offices. This property also has a pool but comes with 3 garages.

Both these properties require some repairs/maintenance, but the beauty of this opportunity is that these stands can be sub-divided and the process has already commenced. No rezoning or major construction will be required.

This approach will provide for:

– Two luxury homes @ ± R9,5 million each

– Three vacant serviced stands measuring 2 @ ± 1 000 M² (valued at ± R 2.1 million each) and 1 @ ± 1 600 M² (valued at ± R 2.9 million).

To cost to finalise the above is estimated to be around R3 to R3,5 million re complete the perimeter upgrades, complete the wall, cosmetic renovations and servicing of the sub-divisions.

Alternatively, a property developer may wish to use these neighbouring properties to provide a number of upmarket apartments.

Steve Van Rensburg – Roodepoort