Lots of lucrative property
On September 4, Van's Auctioneers will sell three properties with lucrative development potential.
These properties are situated in the northern suburbs of Pretoria, and have easy and quick access to public transport, main routes and amenities. The three properties will be sold in three separate lots.
Lot 1 consists of phase one, completely developed that offers a quick return on investment, and phases two to five that have already been approved to be developed as well, and it will consist of 340 additional units also varying from bachelor to three- bedroom layouts. The total extent of these phases will be ± 20 252 m².
The first phase of the residential development is complete and consists of 88 units that vary from bachelor to three bedroom units. All of the improvements of phase-one are approximately 4 138 m2 in extent. These entry-level units are mostly lock-up and go units and are conveniently lower maintenance.
The residential complex has a very neat and spacious appearance; there are large driveways, ample parking areas, shade-net parking and communal grass areas. The complex also has a guardhouse, 2.1-metre parameter wall and separate refuge area. The current occupancy rate of the complex is 95%, and the current gross monthly rental income is estimated at ± R238 000.
The remainder of the development consists of four phases. 340 additional units may be constructed on the property and the municipal rights and approvals are in place for this purpose. All of the services for the remainder of the residential development are also in place, and there are architectural drawings for the phases, site plans, unit plans, electrical, and block layout plans.
Lot 2 and lot 3 consist of two additional stands adjoined to the residential development and each will be sold separately.
The zoning of the property in Lot 2 makes provision for use as shopping centre and commercial development, (use zone 28: special zoning). The property in Lot 3 is zoned for agricultural use and it might be utilised for storage and parking facilities.
Van’s Auctioneers can be contacted for an information pack on the property. The information pack includes site plans, architectural drawings, return on investment summaries, title deed information and other relevant documents that are required to make pre-auction offers. The procedures, rules and conditions of sale are included in the information pack, and can be requested for in writing, by e-mailing rene@vansauctions.co.za.
In order to qualify to take part in the auction for Lot 1, purchasers are welcomed to submit their best offers prior to the auction. The offer must be completed on the conditions of sale that is included in the information pack and a deposit is also required. This will serve as the offer document for September 4. All offer documents will be opened at the office of Van’s Auctioneers at 1006 Duncan Street, Brooklyn, Pretoria on September 4 at 11am.
The five highest of such offers will automatically be registered as bidders for an immediate auction, with the opening bid being the highest. Lots 2 and 3 will be offered separately with normal auction bidding after the bidding for Lot 1 has been completed.
