1 ha Land available in Rietfontein

Residential development for sale in Mooikloof area.

Residential development for sale in Mooikloof area.

Selling price: R5 500 000.00 Seller is not registered for VAT. Purchaser must pay transfer cost and transfer duty

Size of land 1.0024 HA

Zoning Res 3

Height 3 storeys can be built.

Floor area ratio: 1

You can build 10000 m

One side of the property is fenced

A) The development designed for 5 boarding homes with a total of 42 units in the total scheme.

B) Attached is the TOP.

C) Building 1: 1 x one bedroom 8 x Bachelors

Building 2: 1 x one bedroom 8 x Bachelors

Building 3: 2 x one bedroom 5 x Bachelors

Building 4: 1 x one bedroom 8 x Bachelors

Building 5: 2 x one bedroom 6 x Bachelors

D) The one bedroom unit will easily rent out for R6000.00 per month and the Bachelors units will easily rent out for R4500.00 per month.

Potential rent income per month

7 x one bedroom @ R6 000.00 = R 42 000.00 per month

35 x Bachelors @ R4 500.00 = R157 500.00 per month

Total = R199 500.00 per month

E) At this stage, Bulk cost contributions have not yet been determined. The engineering costs to do the final approvals will be more or less R300 000.

F) The proposed site development plan is attached here to the email. The architect has yet to draw up the plans and have them approved with the local authority..

G) Take a look at section 13 incentive where you get 5% of capital spent on the acquiring of the rental portfolio back from your income tax yearly for 20 years. In short the state makes it possible for you to buy 5 or more properties and get all the capital back in a period of 20 years

Please call me, WhatsApp or email me for more information about this development opportunity.

On request I can supply you with much more information and bring you in contact with the owner and his professional team.