Property description
The property located in Northwold, Randburg, is situated on a 431 m² full-title residential erf in an established suburban area. The existing improvements add limited value, making the property ideal for a knock-down and rebuild project. This presents an excellent opportunity for investors, developers, or buyers looking to design and build a modern home suited to current market preferences.
Northwold is a well-positioned residential suburb, offering convenient access to major roads, schools, shopping centers, and other amenities in the Randburg area. With increasing demand for newer homes in established neighborhoods, this stand provides strong potential for redevelopment and long-term value growth.
A four-unit apartment that would cost around R1.5 million would also be suitable for the land, either for multi-letting or for a newly built three-bedroom, three-bathroom home, as per current building regulations. There is structural damage that is of great concern, that is why the seller opted to sell the property for land value. The reserved amount can be discussed with the auction broker.
- Freehold
