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Developer-ready opportunity in Polokwane Ext 138, close to urban amenities and transport links. 37,780m² leasehold site with renewable 49.75-year lease — convertible to freehold for multi-unit projects.
Polokwane Ext 138 – Visionary Leasehold Development
This 37,780m2 leasehold site is perfectly positioned for developers with ambition. Zoned Residential 3, the land offers scope for a multi-unit residential development, townhouse complex, or apartment-style community (subject to municipal approvals). The leasehold arrangement allows you to start planning and development while full title transfer is finalized.
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
* Monthly costs are estimates and should be confirmed with the agent.
Listed for sale at R32,113,000
MyProperty Benchmark Indicator: Data-driven comparison vs similar active properties
Based on 193 listings in Bendor
Insight
Priced above the median for similar land listings in the area. On a price-per-land-m² basis, it is 50% below the median. Land size is 3385% larger than typical for similar land.
Similar properties pricing
Key differences
Market depth
193 similar listings
High similar land inventory in Bendor
Median time on market: 82 days
* Insights are based on current active listings (excludes sold data) and may change. This is not a valuation or appraisal. Smart Property Insights Model v1.0
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Bendor is a sought-after, upscale residential suburb in Polokwane known for its modern homes, proximity to major shopping hubs, and a convenient lifestyle perfect for families and professionals.
* Distances and amenities are approximate.
