Vacant Land For Sale in Port Elizabeth

Property description

Located behind the Walker Drive complex, this prime piece of land presents a unique opportunity for development. Boasting a strategic location close to various shopping malls, schools, and other essential amenities, this property is less than 5 kilometers away from the newly constructed multi-billion Rand Bay West Mall. With its ideal positioning, the dream of transforming this land into a remarkable residential development. The initial zoning allowed 60 units per hectare resulting   in a projection of approximately 444 middle and high-income residential units.  However, the Municipal bylaws has changed since the initial approval and the property’s zoning has changed to general residential 1, with an allowance of 50 units per hectare, resulting in approximately 350 dwellings on this piece of land.
The initial idea for this 8.9 hectares was to transform it into six distinct villages, each offering its own unique character and charm. The proposed development would have prioritize the inclusion of open spaces and walkways, providing residents with plenty of recreational areas and opportunities for relaxation. Moreover, the property features direct access to the scenic Baakens River on its South/East side, adding to the natural appeal of the project. This proposal is illustrated in the attached diagrams.
Although the development had previously obtained a Record of Decision (ROD), it has expired several years ago. However, with its revival, the project is set to revitalize the area and fulfill its potential. The initial idea was that these residential units will consist predominantly of free-standing houses, complemented by a number of 4 to 6 unit blocks, catering to a diverse range of housing preferences.   The project manager will be willing to discuss all he options and assist, where possible.
One of the notable advantages of this development is its proximity to the Walker Drive shopping complex, providing residents with convenient access to a variety of retail outlets, restaurants, and entertainment options. Additionally, the close proximity to the Bay West Mall, further enhances the appeal of the location, offering residents an unparalleled shopping experience.
Developers and investors have a unique opportunity to capitalize on the demand for residential units in this sought-after area. With its strategic positioning, extensive amenities, and stunning natural surroundings, this development property is poised to attract discerning buyers and provide a prosperous future for those involved.
This prime property, with its optimal location and vast potential offers an exceptional opportunity for an investor / developer.