R10,500,000 | 4,360m² Vacant Land For Sale in Point Waterfront

4,360 m2 MIXED USE DEVELOPMENT SITE

6,540 m2 ASSOCIATED BULK

SO MANY DEVELOPMENT OPTIONS!!!!

PRICED REDUCED TO ONLY R10,500,000 (plus VAT) (Not Negotiable)


This large zoned and fully serviced, level development site, is a really great buy for any greenfield development opportunity.

It has been on the market for a while now and as a result, the seller reduced the selling price from R14,650,000 to a really low price of ONLY R10,5 million (Incl. commission) (not negotiable). (R1,605 / bulk sqm)


DEVELOPMENT OPTIONS

Ideal for a ground floor retail supermarket and / or commercial use, or alternatively, as a convention or exhibition centre, or alternatively, as a mixed use retail, commercial and residential building.

Also, ideal for large ground floor retail section, offices on floors 1 & 2 and residential apartments on floors 3, 4 & 5, with an opportunity to develop and wonderful roof top entertainment area, complete with pool, and grass area.

Alternatively, there is also an opportunity to develop a well positioned, hotel, residential or office development, with the 3rd, 4th and 5th floors ALL offer wonderfully scenic views over uShaka & Waterworld to the beaches, the ocean, Moses Mabhida stadium & Umhlanga.

This well positioned development site, offers amazing seaviews, over the uShaka Marine Park, to Umhlanga Rocks.


SITE LOCATION AND GENERAL INFORMATION

This is a prime development site, which has a large 4,360 m2 footprint, a height allowance of 19,2 meters and 6,540 m2 of bulk (4360 m2 - original bulk & 2180 m2 – additional bulk bought by owners).

Herewith the additional information for this site :
• Rates +/- R102,000
• DPWMA levies +/- R28 650 (incl Vat)
(NB. Rates were originally +/- R44,000 but with municipal rates increases for 2022, it was increased to this figure because it was an undeveloped site. Municipality has advised that once development starts, the rates should return to developed property tariffs)
Located in a prime position, diagonally across the road from uShaka, right next to the proposed new 50,000 m2 shopping mall and the new high rise developments within the Waterfront Precinct, it will offer stunning views of the harbour, the city and the new Cruise Line Terminal, plus there will also be stunning views over uShaka Marineworld, to the beaches, the ocean and Umhlanga Rocks, from the upper floors.

The unique things about this particular site, is that it has an exceptionally large footprint of 4,360 m2, making it easy to develop and very cost effective, especially when it comes to the parking requirements, as a basement level would have large footprint and it would need very low retaining walls, if any!!

This property is in a prime positioned across the road from the new shopping mall, uShaka and most importantly, the new transportation node which is to be located directly across the road in the current uShaka car park!!!!

NB. This particular property is one of the last 5 privately owned properties that is for sale within the Precinct, as all the other development sites are owned jointly by the Durban Point Development Company and the Malaysians.

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Please contact me for additional information. I look forward to meeting you on site to discuss this development site opportunity further with you.