3.8 ha Land available in North Riding

R 10 800 000

Morne Smit

True Value Properties-Randburg / Fourways

3.8 ha Land available in North Riding

R 10 800 000

Can I afford this?
Land Area 3.8 ha

Calling property developers and medium term property investors.

This smallholding on the northern side of North Riding AH offers the best of both worlds for a developer:

It generates a net rental income of R83k per month (R103k income minus R20k expenses).

The buildings that generate this income are located on the one side of the property, which allows you as the developer to either start development on the rest of the land while the current income is unaffected. This benefit will significantly reduce or even negate the holding costs.

As a property investor who buys this property for the medium term appreciation of the land, the rental income from existing buildings will just about cover the land carrying costs. You could always use the rest of the land for other income generating activities.

The land slopes towards a small river at the lower end of the property, where a short stretch of this river runs through the lower corner of property. This could be a used to create attractive entertainment features in a residential development.

The areas Spatial Development Framework allows for 60% coverage with 3 storeys and 120 dwelling per ha. This makes the property suitable for either a low or high density development. It is currently zoned for Agriculture with Usage Category as Residential.

At the asking price the land is available below R23 700 per unit (the maximum number of units that could be build) or at R284 / sqm.

The owner is VAT registered, therefore the purchase could potentially be managed a zero rated. The listing price is exclusive of VAT.

Contact us for more information on this property.

You could also contact us regarding other plots of vacant land that are very suitable for development in the North Riding, Fourways, and Midrand areas.

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Experience Northriding to Lanseria

What was previously agricultural land, has been transformed into a bustling residential and commercial hub. The Coca Cola Dome is a well known landmark that provides constant nightlife and live entertainment, drawing people from neighbouring cities. Numerous shopping centres provide locals with opportunities for retail therapy and socialising. Luxurious estates, private schools, top-class healthcare, retirement villages and other facilities are contributing to the upward trend in this bustling, rapidly developing area.

Find out more about Northriding to Lanseria

3.8 ha Land available in North Riding

R 10 800 000

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