Property Description
* Erf 902, 901 & 8666 measuring 3,120 m2.
* 3 adjoining residential properties.
* R450,000 rental income p.a.
* Panoramic sea and Table Mountain views from site.
* No freehold residential neighbours.
* Can be redeveloped into 40 apartments.
* Prime land situated just 100m from Milnerton's lagoon and beach, with an application for zoning rights for residential apartments already submitted for approval.
* There are presently three existing residential properties on the adjoining erven which are to be sold as one.
* Ideally situated in Marine Drive, with uninterrupted views of the ocean, Robben Island and Table Mountain, the property is only about five minutes from the centre of Cape Town and V & Waterfront and within easy reach of major routes.
* Prime land such as this in such a sought after location is virtually unobtainable. Given the shortage of land available for brand new residential developments makes this an extremely attractive option for a developer.
* An application for consolidation of the three erven and flat rights for a five-storey apartment building comprising 40 units has already been submitted.
* Milnerton is a very desirable suburb of Cape Town which experiences a strong demand for residential accommodation, and this being a perfectly positioned site very close to the beach makes it highly appealing.
* In addition, for golfing enthusiasts, Milnerton golf course is across the road, while numerous leisure and outdoor activities are right on the doorstep at the scenic lagoon and beach.
Contact: Ron Shaked on 083 601 8272
Viewing: Strictly by appointment
Registration: Day of auction
Requirements: Valid ID & Proof of residence
Terms: 5% deposit plus auctioneer's fee on acceptance
