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R 950 000 | land property for sale in cullinan

Property Description

This property, though it is classified as Institutional for rate purposes, could accommodate "Residential" as per Title Deeds. According to the Title Deeds, a three storey building, half the overall surface size of the Erf, can be built. That is, the approximate overall living area of the building could be three times 1, 616 Square metres (half of 3, 232), or 4, 848 (Four thousand, eight hundred and forty-eight) Square meters ( 3 storeys of 1, 616 living area each). This property, situated at Oliehout St., is within the context of the Tourist centre: Oak Avenue, Cullinan's pivotal point, and the issue of "LOCATION/LOCATION" is its main asset. There are no other vacant properties of this size nearby the hub of Cullinan, except Erf 753, another vacant property for sale. Most stands around the centre of Cullinan are 800 Square Metres or less, which on the cheap go for /-R300,000.00, where a much smaller building (two floors only) can be erected. The following scenario's are possible: Should the property be bought to establish a Church, the ground floor (1,600 square meters) can accommodate space for a Church and an Educational/Project activities area, as well as a small restaurant catering for those attending either the Church services and/or its educational and other general Church's Congregational activities. The Church can also provide Community Hall services to the community at large for a fee, etc. The first and second floors (each floor 1,600 square meters) can accommodate residential areas in the form of Apartments. That is, each floor can easily accommodate 20 apartments of 60 square meters or altogether between 35 and 40 apartments, as some could be bigger than others. These apartments can be a fund raising source for the Church (or possible educational Institution), to cater for their Church or Educational/Project activities taking place on the ground floor. Or they could be used to house members of the Church's Congregation, etc. Alternatively, rather than a Church, the Institutional Zoning can also cater, for example, for a Building providing exclusively educational services to the Public, including a Private School of whatever nature, which is in fact a private business, etc All of these functions and buildings arrangements can be catered for under the present Institutional Zoning arrangement.


Property Details

Purchase PriceR 950 000

Type of PropertyLand

Last Updated02 May 2022

Property Location

Similar Property in nearby suburbs

Agent

Claudi Orlandini-Pira

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