Banners Rest, Close to Durban Situated in Port Edward
Google Earth Reference:
-31.06450278,30.184975 (copy and paste to google-earth searchbox)
Holiday road 76:
Stand size is 5643m squared
There are great views from up the side of the hill.
The plot is on the road.
Holiday road 75:
Stand size is 4450 m squared.
This corner stand has a natural spring/pond in one corner
The perimeter is planted with Natal Bottle Brush trees.
There is a level area for House construction
These two adjoining stands are to be sold together .
The combined stand size is 10093 meters squared.
The properties each are large enough to be subdivided at a later date.
Both have great views towards the wild coast.
Both stands are about 100meters to the entrance of the famous holiday resort “The Old Pont”.
The resort is on the banks of the river and is a great water skiing venue.
The river is at the end of the road and there is no thoroughfare.
The area Banners Rest is a quiet secure area with a holiday atmosphere.
I was going to develop this property myself but do not have sufficient funds.
It would be quite possible to put two houses on each stand (Total 4),
3 bedroom, 2 bathroom, double garage 120m² costs about R600k x 4 = R2.4mil building costs
With stand cost price of R900K
On completion of construction resell off each house with stand for about R1’200’000
This leaves quite a substantial profit. R900K + R2.4Mil = R3.3Mil ... Profit about R1.5Mil
Just to give you an idea of what is possible, I have included some concept plans, drawings and photos of what I was going to do
I am prepared to do an installment sale:
Deposit R350’000 to offset outstanding bonds an minimise risk to buyer
and 24 x R26’000 payments over the next two years.
I think you will find this quite favourable !!!
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