R90 million + VAT
PRIME MENLYN DEVELOPMENT OPPORTUNITY
Property Investment Highlights
Site area - 10,000 m²
Approved GRA - 26,000 m²
Existing rental income ± R185,000–R190,000/month
Location - N1 / Garstfontein off-ramp
Transport - Highway & Gautrain bus route
Ownership - Company-owned
Opportunity to secure a highly visible development site in one of Pretoria's most established commercial nodes, combining approved development potential, an existing income stream and strategic exposure to the N1 highway.
FOR SALE • INVESTORS • PROPERTY DEVELOPERS
A rare opportunity to acquire one of Menlyn's most prominent development sites, situated on the corner of Garstfontein Road and the N1 highway, directly accessible from the Garstfontein off-ramp.
Offering outstanding visibility, excellent accessibility and a landmark position within Pretoria's premier commercial and retail node, this 10,000 m² site presents a rare opportunity for investors and developers to establish a significant mixed-use, commercial, residential or hospitality development in the heart of Menlyn.
Three of the four prominent intersections surrounding the site have already been developed, with established landmarks including the Protea Hotel Fire & Ice! Menlyn, Assupol's office and Menlyn Park Shopping Centre. This represents the last available development corner of its kind in Menlyn, with direct exposure to the N1 highway and positioning along the Gautrain bus route.
Approved Development Potential
The property offers approved development rights for approximately 26,000 m² of Gross Rentable Area (GRA), providing substantial scope for a high-density development designed to capitalise on Menlyn's established commercial, retail, residential and hospitality demand.
Approved zoning and development rights include:
Special Use
Hotel and hospitality development
Residential dwelling units
Commercial office development
Gym and fitness facilities
The development rights have been approved but have not yet been proclaimed. Outstanding bulk service contributions remain payable and should be taken into account in the purchaser's development feasibility and due diligence.
The site's prominent position, excellent transport connectivity and proximity to Menlyn's established business and retail infrastructure make it suitable for consideration of a landmark office development, residential scheme, hotel, or a mixed-use project, subject to the applicable approvals and development feasibility.
Existing Income-Generating Property
The property currently comprises six properties let to several families, consisting of approximately 14 three-bedroom duplex units and five three-bedroom houses, offering an estimated total of 57 bedrooms across the block.
The existing residential accommodation provides an established rental income stream while the purchaser undertakes planning, feasibility studies and development preparations.
Current monthly rental income: approximately R185,000–R190,000.
Existing leases include redevelopment clauses providing for three months' notice.
The existing income provides interim holding revenue pending redevelopment, subject to verification of the current leases and rental roll.
Additional Development Advantage – Parkland Integration
The land situated between the N1 highway and the complex is designated as parkland and may potentially be incorporated into the future development as landscaped open space.
This presents an opportunity to create an attractive landscaped environment incorporating green spaces, pedestrian walkways, seating areas and outdoor recreational amenities, subject to the relevant municipal approvals and applicable land-use restrictions.
Corporate Ownership – Acquisition Opportunity
The property is owned by a company, creating the potential for a purchaser to acquire the company rather than effecting a conventional property transfer.
A corporate acquisition may offer potential transaction and timing advantages, depending on the legal, tax and financial due diligence outcomes. A comprehensive due diligence investigation of the company's records can be undertaken by an interested purchaser.