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
