Property details
Land for sale in Lynnwood Glen, Menlyn Area, Zoning Approved for 97 Residential units and 500m medical suites
Attention developers. Zoning approved, bulks now payable.
– 1km from Menlyn Maine
Zoning Approved for:
– 97 residential units; and
– 500m² offices, medical consulting rooms and veterinary clinic
– FAR: 1.8
– Height: 4 storeys
– Coverage: 60%
Bulks now payable:
– Estimated at R5 215 000 from approval documents. Escalations and exact amounts to be confirmed by purchaser with town planner.
– Bulks payable by purchaser prior to promulgation of rights.
The site consists of 3 adjoining stands, that are to be consolidated. One of the three sellers is VAT registered. The purchaser would have to pay VAT of R990 000, and should then be able to claim back VAT of R990 000 as well as deemed VAT of R1 980 000 – effectively saving almost R2mil on the purchase (Confirm with your accountant if you would qualify for a deemed VAT claim).
Market information on what new residential units are selling for in the area is available upon request.
The Professional Development Estate Agent
Contact the professional development estate agent Chrisjan van Heerden: 0842489757
– BCom (Hons) Entrepreneurship & Marketing