1 Bedroom House in Parkmore

A Rare Opportunity Incomplete Residential Development

An exceptional chance to secure a prime property in one of Parkmores most sought-after suburbs ideal for completing into your dream home or finishing as a high-demand rental investment.

Property Highlights:

Erf Size: 408m2

Plans & Sectional Diagram: Fully in place

Development Status: First phase completed

Completed First-Phase Layout:

1 Bedroom with built-in cupboards

En-suite Bathroom featuring a walk-in shower, vanity, and separate toilet

Open-Plan Kitchen with wrap-around cabinetry, gas hob, electric oven, and an eat-in centre island

Spacious Living Area flowing from the kitchen, designed for modern, open living

A rare find in an upmarket location perfect for buyers seeking a value-add project with excellent potential

Construction

The extensions and structural works undertaken were completed by our Design and Construction division together.

The property currently has separate sewer and electrical connections.

Potential Development Opportunity :

A development concept has been prepared for the property to create:

A 3-bedroom main house

A 2-bedroom cottage

A 1-bedroom studio unit

This is allowable in terms of Johannesburgs updated town planning regulations.

The existing/older section of the property can be rented out immediately

Steps Required to Complete

Enter a new sale agreement with a buyer on a voetstoots basis.

Transfer the property to the new buyer.

Buyer to apply for building line relaxation

Cost: approx. R10 000

Buyer to submit building plan approval for Phase 1

Cost: approx. R15 000

Buyer to complete Phase 1 construction

Cost: approx. R150 000

Apply for an Occupancy Certificate for the new building section

Requires new COCs for electricity and gas

Once completed, the newly built section can be rented out for approx. R12 500 per month

Once development is completed, the property becomes a three-unit rental scheme with strong income potential, making it an excellent investment opportunity.