Rare Development Opportunity in East London

Private Property South Africa
Private Property Reporter

Developers and investors looking to invest in the residential property market in East London have an opportunity to acquire a development site for a residential township.

The vacant land is in the sought after area of Cove Rock and is also located close to the businesses in the East London Development Zone (ELIDZ) ensuring high demand for the completed residential units.

Investors have the opportunity to purchase 50 fully serviced plots at R9 million + VAT, or all 105 plots for R18.5 million + VAT.

The owner will also consider selling the complete lot un-serviced with all approved designs for the internal services and approved sub-division diagrams, @ R7.95 mil + vat, for the lot. These can be provided within 3 months of a sale agreement being concluded and development can commence immediately thereafter.

This is the only available land in the area at the moment and represents a great opportunity to purchase the land at prices below market value.

View the property listing here.

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