Bed for Sale Flora Park Polokwane

Property Details

The Seller is VAT registered and VAT is excluded from the price if applicable. A minimum of 25% First lease payment is needed to secure the land. 25-80% of the advertised priced can be paid and the balance will be leased. Lease period is 30 years with an option to renew for a further 30 years. This vacant land, measuring 16,160 square meters, offers a prime opportunity for development in a highly sought-after location. Zoned Residential 3, the land is ideal for the construction of a townhouse development with up to 80 residential units. The property’s strategic positioning ensures it benefits from proximity to key amenities such as schools, a shopping mall, doctors, and Netcare hospital, making it a desirable location for potential residents. Furthermore, the land is situated near a well-established gym, and it offers easy access to the central business district (CBD) and major routes including the R71 and N1 highways, enhancing convenience for both residents and commuters. The property is available under a 30-year Notarial Lease agreement, with an option to renew. This means that while you do not own the land outright, title and interest of the property are registered to the new owner. Leasehold agreements are registered in the Deeds Office and are common in situations where the land is owned by a third party, such as a government or private entity and the leaseholder is granted long-term usage rights. After the 30 year period there is an option of renewing the lease, providing flexibility and stability for long-term development projects.