Karenpark High-Density Residential Development Opportunity Akasia Previously approved for 509 Units (Seller Supplied) Corner Dale & Reginald Ave Wednesday, 27 May 2020 @ 12h00 Houghton Golf Club – Osborn Road, Houghton, Johannesburg Sean Parsons | 082 464 7292 | [email protected] Version 1: 9 March 2020 NvV Prime Development Opportunity (509 Units) – Karenpark, Akasia Index Disclaimer, Auction Information and Terms & Conditions Page 3 Property Images Page 4 Executive Summary & Key Investment Highlights Page 6 General Information Page 7 Locality Information Page 9 Property Description Page 11 Supplementary Documentation Page 14 Rates Statement Page 16 Zoning Information Page 19 General Plan Diagram Page 22 /AucorProperty www.aucorproperty.co.za 2 Prime Development Opportunity (509 Units) – Karenpark, Akasia Disclaimer, Auction Information and Terms & Conditions Disclaimer Whilst all reasonable care has been taken to provide accurate information, neither Aucor Corporate (Pty) Ltd T/A Aucor Property nor the Seller/s guarantee the correctness of the information provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a result of errors or omissions in the information provided, whether due to negligence or otherwise of Aucor Corporate (Pty) Ltd T/A Aucor Property or the Seller/s or any other person. ________________________________________________________________________________________________________ Auction Information Deposit 5% of the bid price Commission 10% plus 15% VAT thereon of the bid price Confirmation period 2 Business Days Rules of auction and conditions of sale are available at www.aucorproperty.co.za/ ________________________________________________________________________________________________________ Terms & Conditions R50 000 refundable deposit (strictly bank guaranteed cheque or cash transfer only). Bidders must provide original proof of identity and residence on registration. No cash will be accepted at the auction. No exceptions. All bids are exclusive of VAT. Aucor Property may bid up to reserve on behalf of the sellers. Subject to change without notification. Auctioneer: Pieter Geldenhuys. /AucorProperty www.aucorproperty.co.za 3 Prime Development Opportunity (509 Units) – Karenpark, Akasia Property Images Boundary lines are not to scale and and scale to not are lines Boundary only. purposes illustrative for drawn are /AucorProperty www.aucorproperty.co.za 4 Prime Development Opportunity (509 Units) – Karenpark, Akasia Property Images Chantelle are drawn for illustrative purposes only. only. purposes illustrative for drawn are and scale to not are lines Boundary /AucorProperty www.aucorproperty.co.za 5 Prime Development Opportunity (509 Units) – Karenpark, Akasia Executive Summary & Key Investment Highlights Street Address: Cnr Dale & Reginald Ave - Karenpark, Akasia GPS Coordinates: -25.6720, 28.0912 Registered Land Size: 4.2394 ha / 42,394m² Zoning: Agricultural* - See zoning certificate attached to this brochure Township Establishment Approval: Residential 3 - ±509 units max (See page 8 for details ) Assessment Rates: R690.75 per month - excluding consumption charges and city levies * Note - A township establishment approval for a township comprising two erven with land sizes of 3.7884ha and 4,030m² with Residential 3 and Special zonings, respectively, has been obtained from council. The Erf with the Res 3 zoning will allow for a proposed density of a maximum of ±509 units (as suppllied by the Seller). See Page 8 for details. It is advised that potential purchasers contact a local town planner to determine the current status and to obtain advice on the best course of action to resume and finalize the application. The site is generally flat with no noticeable slope thereon. The Topography: unimproved portion of the site is mostly covered in various grasses, shrubs and trees. There is an existing, partially double-storey dwelling house erected along the center of the western property perimeter. Access into the house Improvements: could not be obtained upon the conducted site visit to determine the specifications and condition of existing features. From the Rates Statement as issued by the City of Tshwane Metropolitan Municipality, it appears that the site is connected to council supplied Services: water and electricity. The status of service connections and the capacities thereof should be confirmed. The property will be sold with vacant occupation upon registration of Occupation: transfer. Advantageously located on a corner stand with ease of access to various arterial roads and highways including the R513 (Brits Rd), R80 (Mabopane Highway) and the N4 highway. Ideally situated in a fast developing node north west of the Pretoria CBD in a complex of suburbs encompassing The Orchards, Chantelle and Theresapark. According to the Regional Spatial Development Framework (RSDF) for Region 1, Portion 512 is earmarked for "Suburban Density" (i.e. residential Key Investment Highlights: development) - Seller supplied The node is a fast growing area and has seen an uptick in direct investment, with the growing population of young graduate professionals as one of the key drivers for investment into the area. Key developments in the area include the Wonderpark Estate, the expansive Wonderpark Shopping Centre (which is the largest shopping mall in Akasia), Karenpark Crossing centre situated opposite the Wonderpark Shopping Centre and the Netcare Akasia hospital. All these developments are less than 1km from the subject property. By bidding on this property, the purchaser acknowledges that he has acquainted himself with the extent and the nature of the property he is buying, and that he accepts the property as such. /AucorProperty www.aucorproperty.co.za 6 Prime Development Opportunity (509 Units) – Karenpark, Akasia General Information Street Address Corner Dale & Reginald Ave - Karenpark, Akasia GPS Coordinates -25.6720, 28.0912 ________________________________________________________________________________________________________ Title Deed Information Title Deed Number T57284/2009 Registered Owner Oxyros 51 CC Title Deed Description Portion 512 of the farm Hartebeesthoek 303-JR, Tshwane Metropolitan Municipality* Registered Land Size 4.2394ha / 42,394m² Title Deed Conditions A copy of the title deed Is on hand and will be made available to prospective purchasers upon request * Holding 11 of Doreg Agricultural Holdings has been excised and is now known as Portion 512 of the farm Hartebeesthoek 303-JR ________________________________________________________________________________________________________ Municipality Information Municipality City of Tshwane Metropolitan Municipality Rates Excluding consumption charges and city levies. Based on the Tax Invoice as issued by the Council for the August 2019 billing period - see a copy of the invoice attached to this brochure for these and other charges. Municipal Rates 2018 / 2019 2018 / 19 Annual 2018 / 2019 Monthly Exclusion Rebate Valuation Category Tariff Rates Rates (Annual ÷12) R 2 700 000 Agricultural N/A N/A 0,0030700 R 8 289,00 R 690,75 ________________________________________________________________________________________________________ Town Planning Information Zoning Agricultural - See zoning certificate attached to this brochure Permitted Uses (per current scheme)* “Agriculture, Farm stall, One Dwelling-house” Coverage Restriction 50% or 2.1197ha / 21,197m² Height Restriction Height Zone 10 – Two (2) Storeys / 10 metres Floor Area Ratio FAR Zone 21 - Not applicable Building Lines 10m along all street boundaries * Tshwane Town Planning Scheme, 2008 (Revised 2014) /AucorProperty www.aucorproperty.co.za 7 Prime Development Opportunity (509 Units) – Karenpark, Akasia General Information Town Planning Information The subject property was the subject of a township establishment application, which was accepted in principle by the relevant departments within the Tshwane Metropolitan Municipality (hereinafter referred to as "Council"). The proposed township, known as Karenpark Extension 49, was to comprise 2 erven, with differing zonings. Salient details of the application can be summarised as follows: Erf 1441 & Erf 1442 Proposed Township Karenpark Extension 49 Zoning Residential 3 Total Usable Area Erf 1441 - 3.7884ha / 37,884m² Erf 1442 - 4,030m² Total – 4.1914ha / 41,914m² Coverage 20% or 8,478.8m² Height 6 Storeys Floor Area Ratio TBC Density 509 units maximum Building Lines TBC Parking TBC Stage of Completion: The Township was approved by Council and was subsequently been surveyed and submitted to the Surveyor General for approval of the General Plan. The General Plan for Karenpark Extension 49 was approved (see copies of the layout plan as approved by Council as well as the General Plan attached to this brochure). From documents on hand the Seller has provided the Town Planners with consent to request an extension of time until 8 August 2015. It appears that the process to proclaim and register the township in the Deeds Office has lapsed and it is therefore advised that prospective purchasers contact the local Town Planner to determine the exact status of the process as well as determine necessary next steps for completing the process. Further details pertaining to the completion of the application are on hand and will be made available to bona fide potential purchasers. *Note all information above is as supplied by the Seller. Supporting approval documentation has been