Polokwane Ext 138 – Residential Project Potential
This expansive 15,149m2 leasehold land in Polokwane is designed for forward-thinking developers. With Residential 3 zoning, the site is suitable for townhouses, apartments, or other multi-unit residential schemes. Leasehold ownership provides immediate development opportunity, while eventual full title transfer secures long-term investment.
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.
