Location, location! Beachfront Development Project for Sale

Are you looking for an investment opportunity that offers immediate development potential? Look no further than this project, available for sale in its entirety with the land included. With all necessary permissions and plans already approved and in place, you can save both time and money by buying now and beginning development immediately, as the market value of properties in the area is on the rise.

This prime 2094 sqm land currently comprises three rented homes, providing a substantial rental income until construction commences. Approved plans allow for the construction of 42 luxury apartments spanning 6 floors.

Each apartment features modern kitchens, lounges, dining areas, and bathrooms, with sizes ranging from 71 square meters for 2-bedroom apartments with 19 square meter balconies, up to 104 square meters for 3-bedroom units with 24 square meter balconies. The top floor boasts 3 magnificent apartments of up to 159 square meters under roof with 27 square meter balconies.

The building has a secured, open-designed entrance, with all apartments facing southeast and offering panoramic views of the bay. The communal pool area faces north and is designed for privacy and protection from the prevailing south-easterly winds. These apartments are designed to provide the best of both worlds - the vibrant atmosphere of high-rise living combined with the comfort and privacy of a personal residence.

The property is being sold with all approvals and the ground, making it perfect for taking over and developing at your own pace. Once completed, estimated sale prices for the apartments could range from R1,900,000 to R2,400,000 for 2-bedroom units and R3,050,000 to R3,300,000 for 3-bedroom units, with penthouse units potentially reaching up to R5,000,000.

Key features :
Rooms -
95 Bedrooms
84 Bathrooms of which 42 are En Suite
42 Living Rooms
Guest toilet

Services -
Rates and Taxes R2803

Kitchen -
Space for double fridge
Space for dishwasher

Entertainment -
Pool

Internal Features -
Lift

Exterior Cladding -
Plastered

Parking -
Basement Parking

External Features -
Patio (covered)

More Features -
Property Type - Development Land
Seller Type - Private Property
Floor Area - 5163m2
Erf Size - 2094m2
Floor price per sqm - R2,421
Erf price per sqm - R5,969

For more information, please contact me.