Attention Developers & Investors – Re-zoning opportunity! Prime Property, Currently Zoned Residential, Neighbouring Commercial Properties in Loerie Park, George

Duly instructed on Sole and Exclusive Mandate

We Will Offer For Sale By Public Auction The Property Situated At:

11 AKASIA ROAD, LOERIE PARK, GEORGE

ID & proof of residence required for registration.

• Date: 26 July 2024
• Time: 11:00 AM registration from 10:00 AM
• Venue: ON SITE.
• Viewing: By Appointment or One Hour Before Auction.

AUCTIONEER’S NOTE: With a Stand size of over 1300m², a 4 Bedroom home, plus 2 flats and unique development location this property offers tremendous potential.

WATCH THE YOUTUBE VIDEO HERE

Get your bidder paddles ready!

We are pleased to present this unique residential property going on auction in the highly sought-after Loerie Park, George. This property offers exceptional opportunity for homeowners, investors, and developers alike. Currently its neighbouring stands to the south and east are zoned Business I and to the west is zoned Residential IV.

Property Features

• Residential Home: Ideal for families seeking a peaceful and convenient living environment. Excellent rental property.
• Development Opportunity: The surrounding area is poised for future growth, making this property a lucrative investment for developers looking to capitalize on the expanding infrastructure and urban development.
• The stand is rectangular in shape and level.
• The home on the property is old but maintained and currently used as a family home. In addition to the 4 bedroom, 3 bathroom home there is also a:
• 1 bedroom flat, with open plan kitchen and lounge, as well as a,
• Wooden 1 bedroom cottage and pool. The double garage has at some point been developed into a lounge and then a gym studio.
• The plans are not a 100% reflection of the current improvements and certain items are not on plan.

Key Highlights

• Land Size: Large stand measuring ± 1348 m²
• Versatile Use: Suitable for residential purposes or for re-zoning potential to commercial or higher density residential use due to its strategic
• location.
• Central location: Enjoy the blend of suburban tranquility and urban convenience.

A rare opportunity is not to be missed!

Description

• Free Standing Home (Full Title)
• ERF Size: 1,348m²
• Building Size: approx. 400m² (floor space)
• Zoning: Single Rez Zone 1
• Monthly Rates: R1169.21 p/month

On Offer

Main House:
4 Bedrooms
3 Bathrooms (1 ensuite)
Lounge
Kitchen/Scullery
Pantry
Storeroom
Staff bathroom
Covered entertainment area
Double Garage (Currently converted to a gym room)
Flat 1:
Open Plan lounge kitchen
Bedroom
Bathroom
Covered patio
Wood Cottage:
Lounge Kitchen Open Plan
Bedroom
Bathroom
Pool
Covered Store areas
Off-street parking for 5 cars.

Location

This is an ideal location for a residential home or development subject to re-zoning to either higher density residential or commercial. Situated in the desirable and central neighbourhood of Loerie Park, the property is located between the Pick N Pay Centre on the Western boundary, a residential home on the Eastern boundary and a commercial property on the Southern boundary. Akasia Street comprises of a vibrant mix of other residential homes, businesses, blocks of flats and townhouses. Loerie Park is known for its many parks, convenient central access to both main town and also to the Garden Route Mall area.

Auction Terms Summary

• Onsite Bidder Registration is to be completed at the property before the Auction starts.
• 10% deposit, plus Auctioneer’s Fees, Advertising of R5,000, and Document fee of R1,150 payable on the fall of the hammer.
• Auction Subject to Seller’s acceptance.
• Full bidder pack with Seller property condition declaration available for download on the website.
• Full terms and conditions available for review on request.

Subject to change without notice. Right of admission Reserved.