No longer available: Bryanston Preschool Development Site

Details

Bryanston Pre-school Development Site – Prime Location

Investment summary:
Bryanston Ext 3 Prime Development Opportunity: A 2,827 sqm site zoned for education with various amenities nearby. Within a 4 km radius is one preschool, two schools, three tertiary institutions, a police station, 3 Gautrain bus stations, and three filling stations.

Background:
Established Business: The current owner purchased the property in 2009 to develop an educational or sporting facility.
Zoning and Development Potential: The property was rezoned from “Residential 1” to “Educational” and is suitable for developing a pre-school, home school, special needs school, or an educational or sporting centre. The rezoning took over five years and cost around R350,000 for professional and council fees. Development rights allow for a 2-story place of instruction and dwelling house, with a 40% coverage and a maximum floor space of 200 sqm (which may be increased with an application).

Erf Size and Building Size: The property has an erf size of 2,827 sqm and an existing 200 sqm house currently used as a rental office. It has two entrances with ample paved parking, four boundary walls exceeding 1.8m in height, and a double carport. The lease agreement for the existing office is currently monthly.

Property Valuation: A property valuation is not available, but the municipal value of the property is R1,45m, and the estimated monthly rates are just over a thousand rand. The comparative average selling price in the area over the past 18 months is R2.8 m.

What is the reason for the sale?
The owner is emigrating in 2023.

Why is this property a sound investment?
This preschool development site in Bryanston is in a prime location with easy access to the N1 highway. The 2,827 sqm erf has already been rezoned for education. Various amenities are within 4 km, including three filling stations, 3 Gautrain bus stations, a police station, a preschool, two schools, and three tertiary institutions. This property is a good investment because of its location, easy access to the N1 highway, and rezoning for education purposes. The large 2,827 sqm erf and nearby amenities, including schools, tertiary institutions, and public transportation, make it a desirable investment. The rezoning process, which can be time-consuming and costly, has already been completed, making it a much simpler investment opportunity.