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Apartment
·
for sale
R 7 000 000
R 14 000/m²
Commercial Property in Ruimsig For Sale
Lewisham
· 500 m² · 4 Bedrooms · 2 Baths · Apartment
Lewisham · 500 m² · 4 Bedrooms · 2 Baths · Apartment
Walk across Peter Road to Monash University in Ruimsig from this strategically positioned property of 9,485m² in extent, which has been rezoned from Residential 1 to Residential 4 and consolidated as Erf 539 Ruimsig. The property is at proclamation stage, the rights permitting 140 units at a building height of 4 stories with an FAR of 1 and at 50% coverage. One could potentially accommodate 280 beds (based on typical sharing pattern), with 112 covered parking bays. (One parking bay per 2,5 beds). It is currently situated next to new student Housing development. There is a house on the property that provides a current rental of R18,000/month from the existing house (ultimately to be demolished). There is 3 phase power available and council water is in p lace. Bulk Contributions have still to be payed. We know that there is a desperate shortage of Student accommodation in South Africa. It is estimated that there are about 500,000 beds short due to a huge increase in the number of tertiar
Walk across Peter Road to Monash University in Ruimsig from this strategically positioned property of 9,485m² in extent, which has been rezoned from Residential 1 to Residential 4 and consolidated as Erf 539 Ruimsig. The property is at proclamation stage, the rights permitting 140 units at a building height of 4 stories with an FAR of 1 and at 50% coverage. One could potentially accommodate 280 beds (based on typical sharing pattern), with 112 covered parking bays. (One parking bay per 2,5 beds). It is currently situated next to new student Housing development. There is a house on the property that provides a current rental of R18,000/month from the existing house (ultimately to be demolished). There is 3 phase power available and council water is in p lace. Bulk Contributions have still to be payed. We know that there is a desperate shortage of Student accommodation in South Africa. It is estimated that there are about 500,000 beds short due to a huge increase in the number of tertiar
R 7 000 000