Development Opportunity Of Unfinished Mixed-Use Residential Block/Lodge

Development opportunity awaits developers and investors alike. This rectangular site is situated in the heart of Observatory on Anson Street, just off Station Road and Liesbeek Parkway, where many new developments have recently gone to ground. The property is an existing Lodge structure where builders started renovating 36 rooms for short-term accommodation or student housing. The property has mixed-use 2 zoning, and there is an existing building of approximately 1300 square meters over two floors. The Erf size is 861 square meters with parking as well as a wrap-around yard for recreational activities, and with some landscaping, it could be converted into an amazing garden for the future lodge or residential block.

The site and area are highly accessible in the fast-developing precinct. There's a huge demand for housing from students to young professionals who need to be based closer to town, as well as demand from the Airbnb and backpackers type accommodation for tourists. This property is situated less than 1 km from the new Riverlands and Amazon head office developments. The existing building and renovations have been approved for the 1300sqm, but the building is far from completed and is waiting for a developer to finish off what was started. With the current zoning, a 100% coverage and a floor factor of 4 is allowed, meaning that a total of 3,520 m of bulk is available on the site. Please get in touch for viewings or more details on plans, approvals, and a whole lot more