PRIME 5948m² PROPERTY WITH PROPOSED DEVELOPMENT
Rare opportunity to invest in prime development land in an area where development land is very scarce. The property of 5948m² is situated on the corner of Morris and Shelly Streets and is zoned Residential 3 permitting 72 dwelling units on site.
The location of the property provides easy access to four major highways: the N1 Western Bypass, N1 and Schoeman Freeway, the N3 Eastern Bypass, and the M1. In addition, the area falls within the great Sandton area, which is one of the most affluent residential and business areas of Johannesburg and is regarded as the hub of upstart and established companies. Hyde Park and other commercial centers, shopping centers, restaurants, etc., are all located within the proximity of this property.
Proposed Development Details – Option 1
• 24 x 1 Bed 1 Bath Units (Inclusionary Units)
• 20 x 2 Bed 1 Bath Units
• 12 x 2 Bed 1 Bath Units
• 16 x 2 Bed 2 Bath Units
TOTAL: 72
SITE AREA: 0.4411 ha
Use Zone 4: Residential 3
Number of Floors: Ground + 3
Density: 164 du/ha allowing 72 dwelling units on site of which 48 will be market units and 24 Inclusionary housing units.
Coverage: 1093m² Building + 900m²
1993m² = 45%
FAR: 0.78
Parking Provided: 82 bays
Parking Ratio: 1.1 bays p/unit
Additional Information is available on request.
