A rare investment opportunity with residential 3 zoning!
Unlock the potential of this well-positioned property in Annadale, Polokwane, offering an excellent opportunity for property developers and investors.
The property has already been rezoned to Residential 3, allowing for the development of approximately **5–6 residential units, up to 3 storeys high(subject to approved building plans and applicable municipal requirements).
**EXISTING IMPROVEMENTS**
The property currently offers two dwellings:
- **Two-bedroom flat:** Neat and well-maintained, featuring two bathrooms, a neat kitchen, a TV/dining room and a large single garage.
- **Three-bedroom house:** Offering a spacious living room and separate dining room. The house is older and requires some renovation, making it an ideal candidate for redevelopment.
**the real value lies in the development potential!**
Developers have the option to renovate and incorporate the existing structures, or alternatively demolish one or both dwellings to make way for a brand-new residential development.
With the Residential 3 zoning already in place, this property presents an attractive opportunity to develop multiple rental units for a steady rental income or to develop and sell individual units for a capital return.
**an added bonus – borehole water!**
The owners also have the benefit of using a borehole situated on the adjoining erf, providing an additional advantage for the property.
**why invest here?**
- Residential 3 zoning already in place.
- Potential for 5–6 units.
- Development of up to 3 storeys.
- Existing residential improvements.
- Borehole water access.
- Ideal for rental income or resale.
- Excellent opportunity for developers and property investors.
**Don't just buy a property – invest in its potential!**
Contact Simply Properties Polokwane today to explore this exciting development opportunity.
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