Vacant Land Residential For Sale in Bendor

Polokwane Ext 138 – Prime Residential Development Opportunity

Set in a rapidly expanding area of Polokwane, this 20,026m2 leasehold site provides developers with flexibility and potential. Residential 3 zoning allows for a housing complex, townhouses, or apartments. Leasehold tenure ensures immediate development access, with future transfer to full ownership possible once approvals and land purchase are completed.

Leasehold Zoned Vacant Land (Polokwane): You don’t buy the land outright—you secure it on a 49.75-year, perpetually renewable Notarial Lease (registered in the Deeds Office), with the option to convert to Freehold later once the developer finalises the freehold purchase.

How payments work: pay 25% upfront, then monthly lease calculated at 8% p.a. on the remaining balance (max 75% of land value)—buildings/improvements are excluded. Escalation is CPI-based, you can build, finance (banks can bond), and resell like normal ownership.