10 Bay View Heights Road, Erf 4439, Simons Town, South Africa
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Auction
- Lot 7
- South Africa
- Land/Site
- Commercial
Sold After
This property was sold after auction
Property Summary
- This sale is Subject to Confirmation by the parties involved
- Perfectly located Vacant Site with Exceptional Views overlooking Simons Town on the Urban Edge
- Extent: 4191m2
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Property description
- Erf extent: 4191m2
History of the property:
Hazra (37) Property Investments (Pty) Ltd purchased erf 4067 from the South Peninsula Municipality in 1993 with a GR2 residential zoning. The original development plan is attached.
Vision Projects Cape was a 50% shareholder in Hazra and provided the funds for development. 5 blocks of 61 residential units were developed before Hazra went into liquidation in 2000. Hazra created erf 4439 to house a club house without changing the zoning. Vision Projects Cape purchased the undeveloped land including erf 4439 from the liquidator in 2006. Vision Projects Cape paid rates on both properties as GR2. Erf 4439 was valued at R18 million for rates purposes.
The properties are now part of the Cape Town Municipality who want to have an urban edge above which no development may will be allowed. Erf 4439 is below the urban edge and so falls within the development zone. We are working with the Municipality town planning department who are not averse to granting GR2 to this site on the basis that we accept the urban edge.
The budget to get the this zoning is R391 000.
- Zoning: undertermined
- A 10% deposit and 7% auctioneers fee (plus VAT on fee) is due and payable by the highest bidder once bidding has closed. See Legal tab for Special Conditions.
- Please note: All legal documents can be viewed by clicking on the ‘Legals’ tab above, in order for you to carry out due diligence in relation to the property. By doing so, this will also then ensure that you are continuously updated regarding any pricing changes on the property before the auction
Location
Located on Bay View Drive in Bay Heights Village Simons Town
VAT
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*Terms & Conditions
No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.
