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PROPERTY FOR SALE 41 ST BENEDICT ROAD GRESSWOLD JOHANNESBURG DEVELOPMENT LAND OPPORTUNITY All Reasonable Offer will be submitted URGENT SALE Contact for further info: Ross Diamond Cell: 071 617 3686 Email: [email protected] 1. ADDRESS’ OF PROPERTY Property Address: 41 St Benedict Road, Gresswold, Johannesburg, Gauteng Erf & Suburb & City: ERF 17 Gresswold, Johannesburg ERF Size: 1487 m² 2. DESCRIPTION OF SUBJECT PROPERTY The subject property is currently a piece of land with the existing house still on the property. The house is tenanted and has an income of R6 000.00 per month Net. The tenant is on a month to month. There is currently 100 amp 3 phase electricity on site and this is understood to be sufficient for the new development. The water connection is still to be installed. The cost for this is expected to be R45 000.00 The bulk contributions have not been paid and are estimated to be R900 000.00. There is a dispute lodged about this cost and may only be necessary to pay approx. R450 000.00 A re-zoning was submitted and approved in July 2018 and the property is zoned as Res 4. There is no servitude on the property and the height allowance is 4 storeys with 50% coverage. The proposed development is for a 2 storey building to be erected. The zoning letter is below. The proposed development is to construct 2 floors of apartments with 10 sections per floor. This would give a total of 20 units. They are all identical with 2 bedrooms 1 bathroom and an open plan lounge/dining room and kitchen. 3. AREA INFORMATION Gresswold is a suburb of Johannesburg, South Africa. A small suburb in northern Johannesburg, it is surrounded by Bramley, Savoy Estate, Kew and Bramley Gardens. It is located in Region E of the City of Johannesburg Metropolitan Municipality. The subject property is situated 1 block off Louis Botha Avenue. The distance from the property to Louis Botha Avenue is a mere 190m. This will make it easy for the residents of the development ease to get to the main road for transport. Louis Botha Avenue (part of Johannesburg Metropolitan Route M11) is a major street in Johannesburg, South Africa. Originally part of the main road between central Johannesburg and Pretoria, it runs along through the north-eastern parts of the city from Hillbrow to Sandton, passing through numerous older suburbs, including Houghton and Orange Grove, before it becomes the Pretoria Main Road (later Pretoria Main Road) (R101) which passes Alexandra Township and continues to Midrand and Pretoria. 4. ZONING 5. PROPOSED PLANS Ground Floor First Floor Elevations Electrical Layout 6. PROPOSED BUILDING COSTS .