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SAIA - South African Institute of Auctioneers

LIVE AUCTION :2 IDWALA CIRCLE, IZINGA, UMHLANGA RESIDENTIAL PROPERTY AUCTION IN MOUNT EDGECOMBE, KWAZULU-NATAL AUCTIONED BY IN2ASSETS PROPERTY SPECIALISTS

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MOUNT EDGECOMBE - RESIDENTIAL PROPERTY

LIVE AUCTION :2 IDWALA CIRCLE, IZINGA, UMHLANGA

DESCRIPTION:

One of The Last Remaining Exclusive Suburban Development Sites.

Extent: ±12 158m² | The Silver Ridge Development enjoys a brilliant position along the Umhlanga Ridge | Located in one of South Africa’s fastest growing urban nodes | Permissible bulk ±12 158m² | 60 Unit opportunity | Medium Density Development | Located within the ultra-secure Izinga Park Estate

LOCALITY

Umhlanga has become the pride of Kwa-Zulu Natal and its consistent growth has seen it become one of South Africa’s most important economic hubs. Investor confidence in Umhlanga Rocks remains high with new and current developments totaling a conservative R10 billion.

The Silver Ridge development is ideally situated on the Umhlanga Ridge, the crown jewel of Umhlanga and is one of the last undeveloped sites in this exclusive area. The Umhlanga ridge zone is considered one of South Africa’s fastest growing urban nodes.

The properties within the Izinga Park Estate are designed for discerning purchasers looking for luxury living whilst enjoying the tranquility of coastal life and a rich natural environment. The Estate provides a magnificent lifestyle and is complemented by superb indigenous landscaping on lavish properties situated on the doorstep of Umhlanga Ridge.

 The greater area is seen as a prime residential and commercial node, offering an exciting melting pot of residential, retail, commercial, medical, educational and leisure opportunities.

PRIMARY USE

The subject property offers one of the last remaining development stands in this high-demand node. The site comprises ±12 159m² of permissible bulk to develop with a Medium Density Residential Zoning which offers 60 opportunities over four floors. The property is conveniently located within the ultra-secure Izinga Park Estate and is easily accessed at the entrance to the park.

The development potential is diverse on the site. The area has seen a growing demand for Exclusive Retirement Homes which would be an ideal scheme, however there is an ever-growing demand for both Upmarket Apartments and larger Freestanding Homes. The development could include a mix or focus on one specific product.

 

FEATURES:

 One of The Last Remaining Exclusive Suburban Development Sites.

Extent: ±12 158m² | The Silver Ridge Development enjoys a brilliant position along the Umhlanga Ridge | Located in one of South Africa’s fastest growing urban nodes | Permissible bulk ±12 158m² | 60 Unit opportunity | Medium Density Development | Located within the ultra-secure Izinga Park Estate

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