The Seller is VAT registered and VAT is excluded from the price if applicable. No transfer duty is payable on VAT transactions.

25% First lease installment needed to secure the land. 25-80% of the advertised priced can be paid and the balance will be leased over 30 years.

This vacant land, measuring 16,160 square meters, offers a prime opportunity for development in a highly sought-after location. Zoned Residential 3, the land is ideal for the construction of a townhouse development with up to 80 residential units. The property’s strategic positioning ensures it benefits from proximity to key amenities such as schools, a shopping mall, doctors, and Netcare hospital, making it a desirable location for potential residents. Furthermore, the land is situated near a well-established gym, and it offers easy access to the central business district (CBD) and major routes including the R71 and N1 highways, enhancing convenience for both residents and commuters.

The property is available under a 30-year leasehold agreement, with an option to renew. This means that while you do not own the land outright, you have the exclusive rights to use and develop the property. Leasehold agreements get registered in the Deeds Office and are common in situations where the land is owned by a third party, such as a government or private entity, and the leaseholder is granted long-term usage rights. After the 30-year period, there is the possibility of renewing the lease, providing flexibility and stability for long-term development projects.

Leasehold agreements explained:
A leasehold agreement is a legal arrangement where a developer leases land from a landowner for a specified period, usually ranging from a few decades to even 99 years or more. In this case, as mentioned above it is a 30 years terms with the option to renew. Under this agreement, the developer does not own the land but has the right to build on it and use it for commercial or residential purposes.

In the context of real estate development, the developer can lease the land from the landowner, and in return, they are able to spend capital on constructing buildings or other structures on the leased land. This allows the developer to invest in developing the land, such as building homes, offices, or other properties, without needing to purchase the land outright. The developer pays rent to the landowner for the duration of the lease.