1106 Acres of Land for Sale in George, Western Cape

Option 1: Outright Purchase

Asking Price: R6,800,000 (Land only)

Includes: Full freehold title of the rezoned land with all municipal approvals in place.

Ready to Build: Save 12-24 months of rezoning time; start construction immediately.

Option 2: Development Partnership (JV)

Deal Structure: Investor funds and manages the construction ("Build").

Profit Split:

Seller Retains: 4 Units (Completed)

Developer/Investor Retains: 11 Units (To sell or rent)

Projected Returns for Investor (on 11 Units):

Gross Sales Potential: ±R15,400,000 (Based on ±R1.4m per unit)

Rental Income Potential: ±R88,000 per month (Based on ±R8k p/m per unit)

Approved Project Details (Per Decision Letter)

Total Units: 15 Approved Flats

Unit Specs: 3 Storeys x 5 Units per floor (Total 15 units)

Unit Size: Spacious 77.75m² per unit (2 Bedroom configuration potential)

Parking: 24 Bays approved (1.6 bays per unit ratio), relaxation to PT1 zone standards approved.

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Bulk Services: Capacity confirmed for Water, Sewer, and Electricity.

Note: Development Charges (DCs) payable to municipality estimated at ±R442,000 (incl. VAT) prior to transfer/building plan approval.

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Financial Highlights

Market Value Per Unit: ±R1,400,000

Rental Demand: High demand for modern apartments in George; expect ±R8,000/month.

Cost Efficiency: Approvals allow for a 40% coverage footprint (1,106m² stand), maximizing land use efficiency.