This spacious 5567m2 property is perfect for an investor looking to develop a residential complex.
The approved scheme allows for a total of 11 units,
The property currently has an existing house, which is roughly 230m2, and a freestanding double garage with servant's quarters. The existing house has 3 bedrooms or 2 bedrooms with 1 study, a full common bathroom, and 1 en-suite. It also features an open-plan lounge, kitchen, dining room, a double garage, laundry, and a veranda at the front.
Please note that municipal submission fees, the final plan proposal, engineers/geotechnical design, and all other associated fees/costs are excluded.
The property is in a closed corporation with the sole member being the owner. It also comes with R250 000.00 worth of bricks on site, which will be included in the sale should the total selling price be achieved. The existing house is tenanted with a rental income of R10 500.00 per month, making this an excellent investment opportunity.
Don't miss out on this incredible opportunity, contact me today.
Pietermaritzburg at a glance
Known as the "City of Flowers" for its azaleas and roses, Pietermaritzburg is the capital and second largest city in KwaZulu-Natal. Founded in 1838, there are still many well-preserved late 19th-century government buildings in the city, such as the historic Old Supreme Court building. The city is a major producer of Aluminium, timber, and dairy products. Pietermaritzburg is the...
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Please note: Most banks charge an administration and initiation fee. Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.
