An exceptional opportunity for property developers and investors to acquire a substantial residential development site in the Lovemore Heights area of Gqeberha.
Situated off Saar Avenue, this 43,284m² (4.3284-hectare) property offers significant development potential, with rezoning approval and Environmental Authorisation already granted for a proposed residential development.
The property has been rezoned from Single Residential Zone 2 to General Residential Zone 1, allowing for residential development at a maximum density of 20 dwelling units per hectare, subject to the applicable conditions of approval.
A proposed development layout has been prepared for 87 residential units, comprising 43 two bedroom duplex units and 44 three bedroom duplex units.
The proposed sectional title development makes provision for allocated parking, private garden areas, internal access roads, controlled access and communal open spaces.
The development layout also incorporates the designated wetland area and stormwater management requirements, with environmental considerations forming part of the overall planning.
Environmental Authorisation has been granted by the Eastern Cape Department of Economic Development, Environmental Affairs and Tourism, while the Nelson Mandela Bay Municipality has approved the rezoning application, subject to the relevant conditions.
Located in the established Theescombe and Heatherbank area, close to Lorraine and surrounding residential developments, the property presents an attractive opportunity for developers looking to establish a residential housing scheme.
With substantial town planning and environmental groundwork already undertaken, this property offers a valuable starting point for a prospective developer.
The proposed Site Development Plan, Environmental Authorisation and municipal rezoning approval documentation are available to serious prospective purchasers.
All future development remains subject to the relevant municipal approvals, engineering requirements and conditions of the Environmental Authorisation.
Contact LEAP Real Estate for further information or to arrange a viewing of this development opportunity.