Property in CBD will be an investment

IF YOU are in the property development or investment business, this property might be what you have been looking for.

Situated in Voortrekker Street in the central business district (CBD) of Polokwane, this property spans 2 549m².

Consider the following when placing a value on the CBD:

1. The needs of a professional family.

2. The needs of a professional investor for this prime property.

3. The needs of a property developer.

From an economic point of view the property can be said to possess utility. The utility is the usefulness of the property based on its ability to satisfy a human need. Utility in this property are the benefits that come from owning and using the property or the possession of some other rights in it.

The owner can receive an income from leasing the property and capital growth that may occur through an increase in value of the property.

The professional buyer can use it for own use, a group of doctors can use it for consulting rooms and it can be used for income generation by investors.

It can also be used for capital growth where properties are purchased because an increase in their value is expected.

It may happen that while you are waiting for the anticipated increase in value, the property could yield sufficient income to cover holding costs, as is the case when a stand is temporarily used as a parking lot and parking fees are collected.

In this case of potential township land, however, it may necessary for the owner to make additional payments during the holding period to the municipality for rates and taxes.

If you are interested, contact Sanet Koekemoer from LSK Eiendomme/Estates at 072 255 9089.