Property description

 Unique Residential Development Land Opportunity for Sale.  

Bellairspark /Northgate/ North Riding Suburban area. 

Asking R4,800 000 

Here is the perfect opportunity to acquire an 8,567m² Belair's
Park North Riding property, just off Malibongwe Drive and neighboring the
popular North Riding suburban hub. This
is a dream location for an astute, multi-dwelling, multi-application developer
to acquire land, packed with up-market
townhouse /apartment development potential.  

The property is located at 937 Malibongwe Drive, opposite and just
east of Northgate Centre. Private entrance is gained from Malibongwe, a
provincial road, but future access is permitted from Bouvet Road, North Riding,
which is accessed from busy Bellairs Drive. Such access lies on the neighboring
Erf 18 Extension 7. 

The beautifully treed and land-scaped ground, slopes approx. 4
meters from the west down to the east
boundary. There is a large, north facing home on the site together with a
workshop shed. The property is fenced on the western, north and southern
boundary, It has a 1,8 meter high brick wall with established residential neighbors,
on the eastern boundary.  

As the property falls under
the Jurisdiction of Randburg and under the Northern Regional Nodal Plan, Town
and Urban Planners have succeeded in obtaining an approved density of 80 dwellings
/hectare which allows for either Residential 2 erven, or Residential 3 Sections with a possible extension to 102 units, subject t a parking
provision of which there is ample supply. 

A green, solar powered solution could be a
significant feature to the homes if
offered. 

Stormwater, sewerage and fire hydrants
have been installed and linked to
existing main central service outlets. The property has its own borehole water supply. Provisional application
to City Power has been made with positive and authoritative reply received.  

Market and desk research indicates the
popularity of residential housing in Bellairs Park and North Riding, with
properties selling for more than R1,1
million plus with more than 64% of
recent buyers in the area falling in the age profile of 18 to 49. Being a
lifestyle-friendly area, it is also an
ideal location for young families. 

People talk about the intimacy and community
feel of this location, perfectly situated between Randburg’s best known
regional centers. With brilliant
schooling, entertainment and services nearby, plus easy access via arterials in
or out, development land must be a smart investment with highly profitable
returns expected down the line. 

The acquisition of Erf 17 Bellairs Park,
would typically appeal to an established, environmentally conscious property developer/contractor, 

religious or educational institution, with
the vision and know-how to deliver the aspirational, market desired and related
type of home, place of work, education or worship.