Position your next development within the new Polokwane Ext 138, a mixed-use precinct that will include Residential 3, Institutional and Business developments, as well as an Estate, a Psychiatric Hospital, a Botanical Reserve and an Indigenous Garden.
This 1.72 ha vacant land is zoned Residential 3 and is located near Baobab Gardens, offering an excellent opportunity for residential development in a well-planned growth area.
Development Highlights
• 1.72 ha vacant land
• Residential 3 zoning
• Permitted density of 44 dwelling units per hectare, and height of up to four storeys
• Ideal for security estates, townhouse developments and larger cluster housing complexes
• Bulk services to be installed in phases or according to the purchaser's request and development timeline
• Municipal rates and taxes are currently at zero, and become payable upon registration of transfer
• Well-positioned with convenient access to surrounding amenities and major routes
• Specific Amended Conditions are available for this development
Leasehold Title
This Land Parcel is available under Leasehold Title for 49 years and 9 months, with at least one renewal period, and registered against the Title Deed in the Deeds Office. A minimum initial lease payment of 25% is required, with the remaining balance attracting a monthly land lease calculated at 8% per annum of the outstanding land value (up to a maximum of 75% of the market value). Owners are free to develop, finance, improve, lease or sell their leasehold rights.
An excellent opportunity for developers and investors looking to secure land within one of Polokwane's newest mixed-use developments.
This is a VAT Transaction. The sales price is Excluding VAT.