R130,000,000 | 65Ha Vacant Land For Sale in Croydon

Residential Development Land

Close proximity to Croydon.

• 850 dwelling units being sectional title, group housing and single residential (Further to discussions with city planners in late 2023 it seems possible that the number of opportunities may be escalated to 1400 or perhaps even more.)
• Price range: R1million to R5 million per unit
• Style: cape vernacular architecture with a variety of styles and roofscapes
• Small convenience shopping centre/offices
• On-site sewage treatment and water reclamation works
• Approximately 18 ha of sellable area
• 27 ha of developable area
• Relocation of the dam
• 37 ha of nature reserve including 1.2 km of river frontage (Eerste River)

STATUS OF RIGHTS
• Environmental Authorisation (obtained Friday, 13th October 2017)
• Municipal Planning Bylaw Approval confirmed (Tuesday, 12th March 2019)
• Water Use Licence (Thursday, 29th November 2018)

APPENDICES AVAILABLE (upon request)
• Project team
• Projected P&L and cash flow
• Google map of the area
• Layout of whole site
• Layout of developable area
• Schematic layout of dwellings
• Architectural proposals
• Architectural guidelines
• Downstream income for developers
• Picture gallery of site
• Environmental authorisation letter
• Water Use Licence letter
• Municipal Bylaw letter

AVAILABILITY OF SERVICES

WATER: The City of Cape Town has confirmed the availability of potable water supply for the development. The main Steenbras pipeline to the city runs through the property.

Sewage treatment: the enlargement of the sewage plant at Macassar will only be complete in 2021 but in terms of our authorisation we have obtained approval to have a package sewage treatment plant which will turn the sewage back into potable water. The cost of this will be R13,400,000 with running costs of approximately R45,000 per month. The supplier company has funding available and will run this service on a monthly basis if so required. The expected usage is 660 kL per day with the dried solids from the effluent being available as fertiliser.

ELECTRICITY: Eskom have confirmed that electricity will be available for our project without a new substation. However, a large new substation will be required to supply the growing demand in the Faure area. These projects include several users being Amazon, who are opening premises on the Cape Town film studio site, Abland developments who have acquired portion 15 of the farm Vergenoegd 653, a small remainder of Vergenoegd 653 in which there is going to be mixed development, the Zetler development to the north of our site and De Wynlanden. It would be prudent to make provision for a contribution to the substation.

DEVELOPMENT CONTRIBUTIONS:

The City of Cape Town has indicated that it requires a development contribution of R31,079,749.

Eskom has not indicated that they require a substation to satisfy our development. We have made provision for R8,200,000 for cabling to supply the development.

As noted in other documentation, it is very likely that the number of units could be increased to 1450 or even 1800 as there has been a change in the city of Cape Town’s view of the density of this development.