Polokwane Ext 138 – Prime Developer Site
This 23,738m2 leasehold property offers developers a blank canvas in a strategic Polokwane location. Zoned Residential 3, the site accommodates multi-unit residential projects, townhouse clusters, or apartment developments. The leasehold arrangement enables early planning and building, with the potential to transfer to full title upon completion of the land purchase.
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.
