R 17 500 000 | land property for sale in paradise beach

This estate was sold on auction due to bankruptcy and was used as a small holding by the owner for the past 6 years. The owner is now immigrating and is looking to sell off the development land for a HUGE BARGAIN! The land costs of 3 well built houses with a fancy entrance and 150 m2 office space. The development is 70% serviced with surrounding walls, entrance and staff buildings in place. All the roads are serviced with stormwater drainage & water. Die electricity infrastructure does needs some work, but most of the other bulk and internal services are already in place! 60% of the roads are already paved, and 90% of the side walls and street lights are already fitted. There is a huge dam on the premises with additional boreholes for water. The land is situated 350 m from one of the most beautiful beach in Africa. These stands can be developed in phases with an average profit margin of R 600 000 per unit. There is a high demand from elderly folks looking to retire and move away from the inland to coastal cities, so these units are high in demand and would work exceptionally well as a retirement estate. The zoning was subtracted by the owner due to the higher rates and taxes but can be activate once again for a willing and able developer.