Prime Residential Development Opportunity – Mooikloof Area
Price: R5,500,000
Zoning: Residential 3 (Res 3)
Land Size: 1.0024 ha
Permissible Height: 3 Storeys
This exceptional development site in the sought-after Mooikloof area presents a lucrative opportunity for property developers. With zoning already in place and a full concept design prepared for a high-income rental project, this property is perfectly positioned for investment success.
Development Overview
Planned Layout:
The proposed development comprises 5 boarding homes with a combined total of 42 units.
Unit Configuration:
- Building 1: 1 × 1-bedroom | 8 × bachelor units
- Building 2: 1 × 1-bedroom | 8 × bachelor units
- Building 3: 2 × 1-bedroom | 5 × bachelor units
- Building 4: 1 × 1-bedroom | 8 × bachelor units
- Building 5: 2 × 1-bedroom | 6 × bachelor units
Projected Rental Income
- 7 × 1-bedroom units @ R6,000 p/m: R42,000
- 35 × bachelor units @ R4,500 p/m: R157,500
Total Estimated Monthly Rental Income: R199,500
Additional Property Features
- Security: One side of the property is already fully fenced.
- Development Costs: Bulk contributions still to be determined and payable by the purchaser.
- Professional Fees: Approximately R300,000 still payable to the town planner and associated professionals to complete the township application process.
- Site Development Plan: Available on request.
Investment Benefits
Section 13 Tax Allowance:
Investors may claim 5% of the capital spent on acquiring the rental portfolio back from income tax annually for 20 years, creating a powerful long-term capital recovery advantage.
Important Notes
- The seller is not VAT-registered.
- The purchaser is responsible for transfer costs and transfer duty.
- A rare opportunity to secure a large stand in the popular Rietfontein Agricultural Holdings, south of Mooikloof.
For more information or to arrange a viewing, please feel free to call, WhatsApp, or email me.
