Unimproved Land Sandton

Seize the opportunity to invest in prime real estate in the heart of Illovo! We present to you a meticulously planned development project poised to deliver exceptional returns for property development investors. Currently renovated house is utilized as Bed & Breakfast Key Details: Location: Situated in the highly sought-after area of Illovo, this prime land parcel enjoys a central location within walking distance from the Thrupps Centre and just minutes away from Melrose and Sandton CBD. Its proximity to amenities, shopping centers, and vibrant communities ensures sustained demand and premium rental yields. Rezoning for Development: Currently in the process of rezoning for development, this property benefits from council support for the following rights: Erf Size: 2029 sqm Height: Ground + 3 floors Coverage: 60% FAR (Floor Area Ratio): 3.6 Density: 120 units per hectare (25 Units) Designed Product: The proposed development comprises 108 sqm apartments featuring: 2 bedrooms, both ensuite Additional 18 sqm separate suite, suitable for rental income or use as a third bedroom ensuite Competitive price point of R 2,650,000 for the 108 sqm unit, with bond repayment of R 28,000 Potential rental income opportunity offering a 90 sqm 2-bedroom unit for R 21,500 bond instalments Attached Plans: Detailed plans showcase the layout for parking, communal areas, and apartment configurations, ensuring efficient utilization of space and maximizing resident comfort. Additional design work is planned to further refine and enhance the project. Investment Potential: This development project presents a compelling investment opportunity, with a well-designed product offering attractive rental yields and capital appreciation potential. Its strategic location, coupled with strong demand from the local community and professionals seeking modern, convenient living spaces, ensures sustained demand and long-term viability. Don’t miss out on this chance to capitalize on the booming real estate market in Illovo. Contact Piet [hidden information] today to learn more and secure your stake in this lucrative development venture!