R 5 540 000 Bond Calculator | Vacant Land / Plot for sale in Glenmore

Port Edward, Glenmore

0
Erf Size: 5.58 ha

Reduced Price On This Prime Property Just Ripe For Development!

The vacant land is well located and would suit a townhouse/freehold development for any reputable developer. The area borders the Tongazi River and there is provision for 40 sectional title/freehold plots ranging from 508sqms to 815sqms.
Authorization and a review of the existing development plans would need to be resubmitted as it was previously granted from the KZN agriculture and environmental affairs to develop.
There is sufficient capacity for sewer and bulk water but this would need to be re-examined, including electrical, road and reticulation
Some of the considerations need to be taken into account:
Private Conservation zone
All areas identified by the environmental consultants as environmentally sensitive, as the areas within the 1:100-year flood line have been excluded from development and designated Private Conservation Zones.
Phase 1 contain areas such as wetlands, grasslands, indigenous forest, riverine forest, etc. The total extent of Phase 1 is 2,82 ha (54,86%).
The proposed zoning controls are as follows:
Special Zone A
Minimum ERF size: 500sqms
FAR: 0,5
Coverage: 15%
Height: 2 storeys
Other Controls: refer Conditions of Establishment
Intermediate residential 1
Minimum ERF size: 1800sqms
Dwelling Units per ha: 20
FAR: Not applicable
Coverage; 30%
Height: 2 storeys
Other Controls: refer Conditions of Establishment
The gross residential density of this area is 8 units per ha.
If and should this property be bought by any investor or developer, it could mean a conservative estimate profit of R1 000psqm of property developed, assuming the average size of each property to be 500sqms and such profit would be of the order of R20.5 mil.
Why wait call today!


Property Overview

Type of Property
Vacant Land / Plot
Description
Residential
Lifestyle
Coastal/Beach
Erf Size
5.58 ha
Rates and Taxes
R 1 100
Zoning
General Residential

Other Features

Height Restriction
2 m²


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