This spacious 5567m2 property is perfect for an investor looking to develop a residential complex.
The approved scheme allows for a total of 11 units, with one unit per 500m2.
The property currently has an existing house, which is roughly 230m2, and a freestanding double garage with servant's quarters. The intention is to convert the existing house into two units, with each unit having 3 bedrooms or 2 bedrooms and 1 study, a full common bathroom, and 1 en-suite. The units will also feature an open plan lounge, kitchen, and dining room, a double garage, a laundry, and a veranda at the front.
In addition to the existing house, the property will have 6 new double-story units, comprising of 3 bedrooms or 2 bedrooms and 1 study, a full common bathroom, and 2 en-suites.
These units will also feature an open plan lounge, kitchen, and dining room, a double garage, a laundry, and a veranda at the front and back. The first floor of the new units will have 2 bedrooms, a full common bathroom, and 1 en-suite.
Please note that municipal submission fees, the final plan proposal, engineers/geotechnical design, and all other associated fees/costs are excluded.
The property is in a closed corporation named Royal Consortium, with the sole member being the owner of the property. The property also comes with R250 000.00 worth of bricks on site, which will be included in the sale should the full selling price be achieved. The existing house is tenanted with a rental income of R10 500.00 per month, making this an excellent investment opportunity.
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Features
4
2
2
Pets Allowed
Yes
Interior
Bedrooms
4
Bathrooms
2
Kitchens
1
Reception Rooms
2
Exterior
Garages
2
Security
Yes
Flatlet
1
Domestic Accommodation
1
Sizes
Floor Size
213m²
Land Size
5,567m²
Extras
Fireplace • Double Parking • Extractor Fan • Built in Wardrobes • Air Conditioner • Electric Gate
Montrose is a highly sought after suburb of Pietermaritzburg, the capital city of KwaZulu Natal. Lying in the Msunduzi River valley at the base of the escarpment Pietermaritzburg is an attractive leafy town with a rich history and sets the stage for a number of well-known sporting events: the Comrades Marathon (also known as The Ultimate Human Race), Duzi Canoe Marathon and the Midmar Mile.
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Please note: Most banks charge an administration and initiation fee. Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.