Main > Industrial Township Dev. > Anandale Township Farm
Anandale Farm - Cadastral Layout.JPG
Anandale Farm - Cadastral Layout.JPG
Anandale Farm - Map.JPG
Anandale Farm - Location.JPG
Anandale Farm - Area of Developing.JPG
Anandale Farm - Locality Plan.JPG
Anandale Farm - Proposed Road Infrastructure.JPG
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Type: Industrial Township Dev.
Agent: Raymond Johnston
Company: The Miracle Property Group
Featured: Yes
Property Description:
Property Description: The Property” means Portion 1 of the Farm Lelie Vallei No: 202; Portion 9 of the Farm No: 220; Portion 2 of the Farm Klein Stink Rivier No: 210; Portion 8 of the Farm No: 212; Portion 1 of the Farm No: 213; Remainder of the Farm No: 213 and Erf 3 Richmond Park, in the Cape Metropolitan Area (CMA) Western Cape, also known as “Annandale Farm”.
Time:
Offers to purchase or to join the owner as a joint venture partner in a proposed “Devco”, or for any other form of participation are currently being entertained. Interested parties are requested to contact Mr Raymond Johnston, should they express any interest in this regard.
It is anticipated that rezoning approval will be achieved within 6 to 8 months after submission. The owner and Enzelela have been in attendance at the City’s “De Grendel Development Area” Steering Committee meetings for the latter half of 2005. The purpose of this meeting was to arrive at the Bulk Infrastructure Contribution Levies (BICL’s) for land to be developed within the scope of the study area, which includes Annandale Farm (termed in the study – “Kleinstinkrivier”). As a result of participating in this steering committee, the City and its departmental officials are thoroughly aware of the development proposals for Annandale Farm and the infrastructure required to support such a development. This is anticipates to result in swift processing of the rezoning application after submission.
It is further anticipated that the project will take approximately 5 to 6 years to roll-out. It is proposed that “Devco” services and sells land and that the development of top- or super-structures, will be undertaken by others, or associate companies of Devco.
Cost:
The cost of servicing the property is anticipated to be in the region of R150 million. This is roughly also the anticipated value of the property once rezoning has been granted. Residential property sales values achievable in the local area at present are in the region of R800-00 per square metre and increasing at approximately 10% per annum. The gross project turnover, if fully residential would therefore be in the region of R480 million. Development profit, after on-costs, is anticipated to be in the region of R200 million. The a foregoing does not allow for future property value escalations, nor does it allow for densification above the level of 25 Units per Hectare. There is a strong likelihood that densification can be increased beyond the stated levels as there is a strong resistance by the City “fathers” to extend the Urban Edge and strong support for urban densification, particularly around or adjacent to major transport nodes and routes.
Quality:
Enzelela have examined many options for the development of this property and, after serious consideration, have recommended at a predominantly residential development with commercial development strategically placed, thereby maximizing the realizable property values and responding best to market needs. An industrial rezoning application for this property that was considered some years ago, has recently been withdrawn, as industrial property values are not as good as residential and commercial property values; land to the west of the N7 is experiencing significant development in industrial use and an industrial rezoning application requires approval from the Western Cape Provincial Government, which considerably extends the time taken to reach approval. All-in-all, the approach with commercial development on either side of the proposed east-west link through the south of the property as well as along the eastern edge of the N7, with the balance being a carefully structured arrangement of residential development zones of differing densities, is being pursued.
Project Team:
The owner has appointed experienced professional consultants as his project team and this team is co-ordinated by Enzelela, who through their members have many years experience project managing property and township development.
THIS PROPERTY HAS RECENTLY BEEN SOLD
Agent: Raymond Johnston
Company: The Miracle Property Group
Cape Town
Cape Town, Western Cape
SA
Price: ZAR R 220,000,000Cape Town, Western Cape
SA
Featured: Yes
A unique investment opportunity lies in waiting for a discerning investor.
Nestling within the urban edge of the Cape Town Unicity and from which the eyes behold the majestic view of that famous landmark serving as the gateway to Africa – Table Mountain, a rare jewel of a property, ripe for development and ripe for the plucking, lies in wait for the right investor.
Eighty hectares of prime property located within a bulk road infrastructure that provides it with excellent access is about to be rezoned and released for residential and commercial development.
Annandale Farm is one of the last undeveloped portions of land within the urban edge of Cape Town Unicity and this jewel of a property represents the rare opportunity on offer to you right now…
Annandale Farm is one of the last undeveloped portions of land within the urban edge of Cape Town Unicity and this jewel of a property represents the rare opportunity on offer to you right now…
Annandale Farm is owned by Annandale Farm Proprietary Limited, a company whose shareholders are the owner and his four sisters.
Annandale Farm is open to receiving offers for an outright sale of the property as-is, or subject to its being rezoned for residential purposes (an application for this proposed use was drafted at the end of 2005 and was submitted to the local authority in January 2006), or to participate jointly in a “Devco” whose purpose it will be to develop the property.
Property Description:
Property Description: The Property” means Portion 1 of the Farm Lelie Vallei No: 202; Portion 9 of the Farm No: 220; Portion 2 of the Farm Klein Stink Rivier No: 210; Portion 8 of the Farm No: 212; Portion 1 of the Farm No: 213; Remainder of the Farm No: 213 and Erf 3 Richmond Park, in the Cape Metropolitan Area (CMA) Western Cape, also known as “Annandale Farm”.
The property extent is approximately 80 Hectares. The accompanying images graphically reflect the extent and location of the property. The roughly triangular shaped property is bounded by the N7 in the west, Richwood residential township to the south and farmlands beyond a power-line servitude, which serves as the property’s eastern boundary and also the limit of the urban edge of the Cape Town Unicity.
Once the area required for roads and public open spaces has been deducted, approximately 60 Hectares of developable and “sale-able” ground will be released. A residential density in excess of 25 Units per hectare has been achieved. There is also provision for commercial development within the project scope, mainly fronting the N7.
Time:
Offers to purchase or to join the owner as a joint venture partner in a proposed “Devco”, or for any other form of participation are currently being entertained. Interested parties are requested to contact Mr Raymond Johnston, should they express any interest in this regard.
It is anticipated that rezoning approval will be achieved within 6 to 8 months after submission. The owner and Enzelela have been in attendance at the City’s “De Grendel Development Area” Steering Committee meetings for the latter half of 2005. The purpose of this meeting was to arrive at the Bulk Infrastructure Contribution Levies (BICL’s) for land to be developed within the scope of the study area, which includes Annandale Farm (termed in the study – “Kleinstinkrivier”). As a result of participating in this steering committee, the City and its departmental officials are thoroughly aware of the development proposals for Annandale Farm and the infrastructure required to support such a development. This is anticipates to result in swift processing of the rezoning application after submission.
It is further anticipated that the project will take approximately 5 to 6 years to roll-out. It is proposed that “Devco” services and sells land and that the development of top- or super-structures, will be undertaken by others, or associate companies of Devco.
Cost:
The cost of servicing the property is anticipated to be in the region of R150 million. This is roughly also the anticipated value of the property once rezoning has been granted. Residential property sales values achievable in the local area at present are in the region of R800-00 per square metre and increasing at approximately 10% per annum. The gross project turnover, if fully residential would therefore be in the region of R480 million. Development profit, after on-costs, is anticipated to be in the region of R200 million. The a foregoing does not allow for future property value escalations, nor does it allow for densification above the level of 25 Units per Hectare. There is a strong likelihood that densification can be increased beyond the stated levels as there is a strong resistance by the City “fathers” to extend the Urban Edge and strong support for urban densification, particularly around or adjacent to major transport nodes and routes.
Quality:
Enzelela have examined many options for the development of this property and, after serious consideration, have recommended at a predominantly residential development with commercial development strategically placed, thereby maximizing the realizable property values and responding best to market needs. An industrial rezoning application for this property that was considered some years ago, has recently been withdrawn, as industrial property values are not as good as residential and commercial property values; land to the west of the N7 is experiencing significant development in industrial use and an industrial rezoning application requires approval from the Western Cape Provincial Government, which considerably extends the time taken to reach approval. All-in-all, the approach with commercial development on either side of the proposed east-west link through the south of the property as well as along the eastern edge of the N7, with the balance being a carefully structured arrangement of residential development zones of differing densities, is being pursued.
Project Team:
The owner has appointed experienced professional consultants as his project team and this team is co-ordinated by Enzelela, who through their members have many years experience project managing property and township development.
Agent
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