1 280 m² Commercial space in Doornfontein

Development Parcel Opposite UJ Doornfontein - Student Accommodation Site

Asking R 16 999 000

Negotiating offers above R 13 999 000

A 4,218 m land holding directly opposite the University of Johannesburgs Doornfontein campus, held within a single ownership across six contiguous erven, with Surveyor-General-approved consolidation into two. Central Johannesburg College is a short distance away.

At a glance

- Land: 4,218 m - six erven, with SG-approved consolidation into two

- Existing building: approximately 1,280 m gross floor area vacant

The parcel

- Erf 676 - 986 m SG-approved consolidation of the Remaining Extent of Erf 394 and Erf 395, fronting Currey and Height Streets.

- Erf 677 - 3,232 m SG-approved consolidation of Erven 429, 430, 431 and 623, fronting Currey, Height and Nind Streets.

The six erven are held under a single ownership. The Surveyor-General has approved their consolidation into the two erven above the diagrams are in place and ready to be registered, giving a buyer a clean two-erf configuration rather than assembling separate stands.

Development rights

- The land is zoned Business 2 Height Zone C under the City of Johannesburg Land Use Scheme, 2018. Business 2 permits residential buildings and dwelling units - which include student accommodation - as a primary right, so a student-accommodation scheme can proceed under the current zoning.

- Bulk parameters: FAR 4.0, coverage up to 100, and height governed by the 59 height-line with scope to exceed via an approved Site Development Plan. At FAR 4.0 this equates to a permissible bulk in the region of 16,900 m indicative.

Location

Directly opposite UJ Doornfontein, with Central Johannesburg College a short distance away, in an established inner-city location.

Improvements and plans

- The only improvement is a vacant three-storey building of approximately 1,280 m gross floor area across ground, mezzanine, first and second floors the balance of the site is open.

Architectural plans for Erf 676 - a refurbishment of the existing building 12 units and a new four-storey building 57 beds - are included in the data room Erf 677 is undeveloped.

Transaction

- Held within a single ownership. Subject to a tax opinion, the sale may qualify as a VAT going concern zero-rated.

A full data room is available to qualified buyers. Offered on an exclusive sole mandate through Rockstar Realty.

To arrange access to the data room or a site visit, contact Brett Lensvelt, Rockstar Realty.