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.

Looking to sell your home?
Advertise your property to millions of interested buyers by listing with Private Property now!
Find out more

Tagged In:



Found this content useful?

Get the best of Private Property's latest news and advice delivered straight to your inbox each week

Related Articles

New residential lifestyle estate is a first for Linksfield
The Neighbourhood is a new mixed-use development in the historic Linksfield suburb and is the only secure residential and lifestyle estate in the area.
Blok explores new designs and shared spaces with TENONQ
Blok is proud to announce the completion of TENONQ development at 10 Quendon Road, Sea Point.
Transport corridors encourage wealth creation through property investment
With the development of new transport corridors, a number of opportunities for property investors to generate great wealth have arisen across South Africa in recent years.