34.6 ha Land available in Alra Park

R 25 000 000

Konrad Brummer

RE/MAX-Dazzle Kempton Park

34.6 ha Land available in Alra Park

R 25 000 000

Land Area 35 ha

The property is located next to the residential neighbourhood of Alra Park in Nigel. The Business/Retail site is located on the intersection of the R51 Balfour Road and the R550.

Capitalize on the 30 year development plan for Ekurhuleni, recently launched by the Mayor, which I''ll be very happy to provide on request.

The proposed development consists of

1.596 Full Title Residential stands (approx. 200m each)

2.1 Sectional Title Stand (approx. 80 units)

3.1 Business stand (1,9 ha) can be used as retail.

Ideal for a potentially very profitable housing development comprising:

1.Gap housing - Up to R300,000

Shortfall, or gap in the market between residential units supplied by the state and houses delivered by the private sector (which are not less than R300 000. The GAP housing market is people who earn between R3,500 and R15,000 per month, which is too little to enable them to participate in the private property market, yet too much to qualify for state assistance. Units in this market segment can be freestanding, full and sectional title units or multi-storey sectional title apartments.

2.Affordable housing Up to R550,000

Bonded homes with a sales value deemed affordable to those that have an income of R12,500 to R17,500+ per month . This is a sector where the bank provides end-user finance, comprises units ranging from 40m 2-bedroom units to 4-bedroom units in excess of 120m. Units in this market segment can be freestanding, full and sectional title units or multi-storey sectional title apartments.

The development consists of 7 phases and is structured in such a way that the option is available to convert a portion of the development to sectional title rental units should there be a need for social housing units.

Documentation available on request:

1. Summary of the development

After pre-qualification the following is available:

1. Conditions of establishment

2. General Plan

3. Geotech Report

4. ROD

5. Signed service agreement

6. Feasibility of the commercial site.

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Konrad Brummer

Konrad

Brummer

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34.6 ha Land available in Alra Park

R 25 000 000

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