DEVELOPMENT LAND FOR SALE
Remarkable development land is now on the market in the highly desirable gated community of Lynnwood Ridge. Ideally situated within walking distance of Lynnridge Mall and Gift Acres shopping center, this exceptional property is also conveniently located near The Wilgers Hospital and The Grove Mall. Families will benefit from excellent nearby schools and easy access to major highways.
The asking price of R8,650,000 includes TWO residential stands that have been approved for development as a combined stand, totaling approximately 2,977m². Currently, both original homes on the stands are occupied by tenants, generating a consistent rental income until development commences.
Zoning information: Res 4, permitting 101 units per hectare, which amounts to a total of 30 units.
Bulk contributions that are payable for the development to commence (as calculated in September 2022), are as follows:
- Water: R139,176.45 (VAT included, 15%)
- Sanitation: R234,750.42 (VAT included, 15%)
- Electricity: R399,307.90 (VAT included, 15%)
- Roads and stormwater: R167,441.61 (VAT included, 15%)
For further details, please contact Marius.
The asking price of R8,650,000 includes TWO residential stands that have been approved for development as a combined stand, totaling approximately 2,977m². Currently, both original homes on the stands are occupied by tenants, generating a consistent rental income until development commences.
Zoning information: Res 4, permitting 101 units per hectare, which amounts to a total of 30 units.
Bulk contributions that are payable for the development to commence (as calculated in September 2022), are as follows:
- Water: R139,176.45 (VAT included, 15%)
- Sanitation: R234,750.42 (VAT included, 15%)
- Electricity: R399,307.90 (VAT included, 15%)
- Roads and stormwater: R167,441.61 (VAT included, 15%)
For further details, please contact Marius.
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