Development gem looking for investor at auction

Posted On Wednesday, 10 April 2013 07:47 Published by eProp Commercial Property News
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With demand driving up the prices, Auction Exchange offers property developers and buyers the opportunity to snatch up a clear residential development gem at its next auction to be held on the 25th of April 2013.

Property-Housing-ResidentialNo longer just a sleepy agricultural town filled with horses and sheep, Muldersdrift is moving into the throes of a development boom with major mixed use developments being announced and launched in and around the area. 

Excellent return on investment

Currently zoned agricultural, Ptn 42 of the Farm Rietvallei 180 IQ falls within the Muldersdrift Precinct Plan, an area earmarked for medium density development (which allows for between 40 and 60 units to be built per hectare). Its sprawling 5.2487HA, of which 50% can be developed, offers a sensible investor the opportunity to turn a good profit and result on ROI.

The remaining areas of wetlands can be incorporated into scenic and picturesque recreation space within the development driving up the purchase prices of the actual units.

The property currently boasts four houses and a number of cottages on it. Two of the cottages have 12 month leases in place for guaranteed rental income and an additional month-to-month lease is an obvious drawcard for property investors.

Ideal positioning

Ideally located off Drift Road, between Larsens Street and Abraham van Wyk, this residential development opportunity is centrally situated to the world class Lanseria Airport, as well as major arterials to Pretoria, Johannesburg, Mogale and getaway destinations like Magaliesburg and Hartbeespoort.

The growing developments in this suburb have seen businesses and commercial opportunities increase too.

Services are currently in place and the required upgrades to accommodate the development can be readily achieved.

Last modified on Saturday, 31 May 2014 09:29

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