R 52 000 000 | building property for sale in observatory

Introducing an incredible redevelopment opportunity in Observatory,Cape Town. With a total site area of 2,354 m2, this prime location is perfect for ambitious investors and entrepreneurs looking to develop student accommodation. Erf 25787 offers 220 m2 of space, while Erf 25889 boasts a generous 2,134 m2. Combined, these two parcels create a remarkable opportunity to shape your vision and create something extraordinary. Situated in a General Business (GB5) zone, this redevelopment allows for endless possibilities. The site permits 100% coverage, giving you the freedom to maximize the use of the available space. With a height allowance of 25m, you have the potential to build a stunning architectural masterpiece that will stand tall and capture attention. The floor factor of 4 ensures efficient utilization of space, while the maximum permissible bulk of 9,416 m2 provides ample room for growth and expansion. Imagine the endless opportunities for commercial or mixed-use development, allowing you to create a thriving hub of activity and prosperity.