The current owners have held possession of the land for a significant period. They have been diligently pursuing the township application process to obtain the following approvals and agreements:
Township approval with establishment conditions, subject to certain requirements.
The designs for bulk services have received approval from Tshwane Municipality.
Agreements have been reached regarding bulk contributions, although adjustments may be necessary to account for the time that has passed since the approval.
Services level agreement has been drafted, approved, and signed by all relevant parties.
The Record of Decision (ROD) is already in place.
Detailed designs for civil engineering services have been completed and approved by Tshwane Metro Municipality.
The preliminary design for electrical engineering is complete, and only the detailed design remains outstanding.
The architect has drafted a preliminary site Development Plan.
The approval for the township layout has expired, but it has recently been re-submitted to Tshwane Municipality for renewal. Approval is expected within 2 months.
Essentially, the project is ready to commence with the installation of all engineering services and bulk engineering. It is crucial for the developer to secure the land, acquire the necessary funding, and initiate the development in order to obtain the Section 82 Clearance Certificate. This certificate will allow for the sale of individual units and the commencement of cash flow generation.
Both Soshanguve 7 and 8 are zoned as Residential 3, enabling the development of sectional title units. The units are available in two sizes: 65m² with 2 bedrooms and 80m² with 3 bedrooms. The design encompasses a variety of attractive styles throughout the entire development.
Estate agents have already expressed significant interest, and several pre-sales have been secured. It is estimated that the entire complex will be sold out within 18 months from the start of construction. With the land's affordable cost and the reasonably priced units, this development presents a highly lucrative opportunity.
- Asking Price:
- R10,750,000
- Sales Revenue:
- R613,300,000
- Cash Flow:
- R93,344,000
Property Information
- Real Estate:
-
Real Property Included
- Location:
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Soshanguve Ext 7 & 8 is located within the modern development nodes of Soshanguve. It forms part of one of the major residential townships within the Tshwane Metropolitan Municipal area.
- Premises Details:
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Soshanguve SS X 7 consists of three individual erven. Details of the erven are as follows:
Soshanguve SS X 7: all three erven has an approved density of 70 units per hectare.Erf 2561 = Size: 6574m2
OR: 6574m2 ÷ 142.8m2 (10 000 ÷ 70/units/ha)
= 46 units.Erf 2562 = 7451m2
OR: 7451m2 ÷ 142.85m2
= 52 units.Erf 2563 = 32904m2
OR: 32904m2 ÷ 142.85m2
= 230 unitsA total of 328 can be built on Soshanguve SS X 7.
Soshanguve SS X 8: Both of the two erven has approved rights of 80 units per hectare.
Erf 2566 = 44863m2
OR: 44863m2 ÷ 125m2 (10 000 ÷ 80)
= 358 units.Erf 2567 = 16713m2
OR: 16713m2 ÷ 125m2
= 133 units.A total sum of 491 can be built on Soshanguve SS X 8.
A total sum of 819 units may be built on all the erven in Soshanguve Ext 7 & 8
- Size in square feet:
- 130,000 Sqm
- Planning Consent:
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All planning approvals have been obtained from the Council. Please contact us for more information.
