Property description

UNPARALLELED DEVELOPMENT OPPORTUNITY: APPROVED 12-UNIT TOWNHOUSE DEVELOPMENT IN PRIME FERNDALE!

Discover a truly exceptional investment opportunity at 171 Oak Avenue, Ferndale 2194, Randburg, where all the groundwork has been laid for a lucrative residential development. Marketed at R 3.8 Million, this full title property offers a shovel-ready project with all necessary plans and approvals firmly in place.

A VISION READY FOR REALISATION: This property, the Remaining Extent of Erf 1323 Ferndale, has successfully undergone a rezoning application from "Residential 1" to "Residential 3". This significant approval from the City of Johannesburg Department of Development Planning paves the way for the development of 12 modern townhouse units. Crucially, Johannesburg Water has also approved the Outline Scheme Report and fully supports this application, ensuring a smooth path forward for your project. The approved density is 48 dwelling units per hectare, with a maximum coverage of 60% and a height restriction of two storeys.

METICULOUSLY DESIGNED UNIT TYPES (A, B, & C): The approved site layout features 12 distinct full title units, expertly conceptualised by Guido de Beer architects. The development includes a mix of Type A, Type B, and Type C units, specifically: five Type A units, six Type B units, and one Type C unit.

• Type A Units are designed as two-storey townhouses. On the ground floor, they feature a double garage, a spacious lounge, a dedicated dining area, a contemporary kitchen, a porch, a patio, and an additional toilet with a visitor bay. The first floor comprises a main bedroom, a second bedroom, and two well-appointed bathrooms, along with a linen cupboard.

• Type B Units also span two storeys. The ground floor includes a double garage, a lounge, a dining area, a kitchen, a patio, a porch, and a toilet. The first floor offers a main bedroom, a second bedroom, and two bathrooms, complete with linen storage and built-in cupboards (BIC).

• While specific plans for Type C units are not detailed in the provided architectural documents, the site layout confirms its inclusion as Unit 6. All units are designed to offer optimal living in a modern context.

LEVERAGE THE EXISTING INFRASTRUCTURE: The property currently features an existing structure with an estimated floor size of 570 m² and a building footprint of 537 m². This existing house presents a valuable opportunity to offset development costs and streamline operations. It can be effectively utilized as a site office for project management, staff accommodation for construction teams, or even rented out to generate income while development work commences on the rest of the site. (Please note: Information regarding the specific suitability of the existing house for these uses is provided by the user and not directly detailed in the given sources.)

PREMIUM LOCATION, UNBEATABLE CONVENIENCE: Situated in the highly desirable Ferndale, this address boasts superb connectivity and access to essential amenities. Enjoy immediate proximity to reputable educational institutions such as SPARK Ferndale (0.29 km), I.R. Griffith Primary School (0.55 km), Laerskool Unika (0.55 km), and Hoërskool Randburg (0.94 km), making it ideal for families. Daily conveniences and leisure are effortlessly catered for with Bramfischer Centre (0.24 km), Canterbury Crossing (0.30 km), and The Brightwater Commons (0.95 km) all within easy reach. The Ferndale suburb is characterised by an "Emerging Middle" to "Affluent" income class, indicative of a thriving community.

EXCEPTIONAL INVESTMENT POTENTIAL: The marketing price of R 3.8 Million represents outstanding value, especially when considering the area's estimated average sale price of R 4,320,833 and recent average sale prices of R 4,198,000. This fully approved development site offers a significant head start on your investment. Furthermore, the property benefits from a "Low" crime index (4.25 crimes per 1000 households).

Don't miss this rare opportunity to acquire a fully approved, shovel-ready development site with the added advantage of an existing structure in the heart of Ferndale! Unlock the full potential of 171 Oak Avenue and secure your next successful project.