Property description

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.