Prime development land available

Some prime-located development opportunities have presented themselves in the popular Vaal Dam and upper Vaal River areas.

With developers gradually re-entering the marketplace, coupled with renewed interest and uptake among leisure home buyers and an ever-increasing demand for retirement properties situated in scenic surrounds, some prime-located development opportunities have presented themselves in the popular Vaal Dam and upper Vaal River areas, says Phil Medlock, Pam Golding Properties area principal.

“The Vaal Dam is currently generating a notable surge in interest among home buyers, evidenced by a dramatic increase in our sales in the area since September last year (2011).

“These sizeable properties which have become available are ideal for a developer with vision to take forward. The first of these, with which I have been involved for over four years, is River Home Estate, comprising over 220ha and with more than 5km of Vaal River frontage. With all approvals in place as well as service agreements, the timing is now right for this project to come to fruition.

“Situated about 45 minutes from the Vaal Triangle and 60 minutes from the East Rand, the asking price for this property is R20 million. Incorporating 124 residential erven as well as five stands which have group housing rights for up to 30 dwellings per site, this well positioned property is highly suitable for the establishment of a retirement village. Given that two years ago we valued this property at R35 million, this represents outstanding value for money, with sound investment potential,” says Medlock.

He says one of the main benefits of the River Home developments is that the five group housing stands – which have been earmarked for a possible retirement village – fall within the larger estate and would as a result enjoy all the development has to offer in terms of security, walking, boating etc. “It would provide residents of the proposed retirement village with the opportunity to live in the country but still close to major towns such as Benoni, Vereeniging and Heidelberg, all less than 60 minutes’ drive. With the high demand and shortage of such villages in the great Johannesburg area, this could definitely have high appeal especially if the extended family decided to invest in River Home Estate,” says Medlock.

River Home Estate is located adjacent to the appealing town of Villiers, steeped in history and gateway to the Eastern Free State towns such as Frankfort, Bethlehem and Clarens among others, and Golden Gate National Park. The estate incorporates unspoilt grasslands and allows for free movement of small endemic game in the wide open spaces and among the residences.

Medlock says the second property is an un-zoned 300ha farm with 3.5km of Vaal Dam waterfront.

“This is also located in a prime position, bordering the successful Peninsula wildlife development. As the latter comprises approximately 200 two hectare stands with 100m of waterfront each, obtaining development rights for a minimum of 24 stands on the farm seems very feasible. Only a 15 minute drive from Deneysville and five minutes by boat this property would also suit an affluent investor seeking the ultimate lifestyle farm. With an asking price of R18 million, this is the very last farm of this nature situated so close to the town of Deneysville,” he says.

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