In2assets is pleased to present a rare opportunity to developers and investors at their next property auction to be held on the 17th of March 2020 at The Durban Country Club says Luke Hearn, who oversees the marketing of this rare site.
The auction will offer the last remaining large residential development site in the popular upper La Lucia node, the site is wedged in-between “Ilala Ridge” and “The Executive” which face the Indian Ocean and overlook La Lucia.
The North Coast of KwaZulu-Natal which includes Durban north, Umhlanga and the Dolphin Coast has seen massive expansion in recent times and has been identified as the fastest growing development area in the country. Umhlanga has emerged as the business hub and economic heart of KwaZulu-Natal with major blue-chip companies calling the area home. The area has not only been a drawcard for big business, naturally an abundance of estates and upmarket residential developments have been birthed. Investor confidence remains high with a conservative R10 Billion of new and current developments in progress.
The elevated site offers ± 54 772 m² of prime development land which enjoys 180⁰ sea views, fronting onto Umhlanga Rocks Drive and located between two of La Lucia’s most desired residential addresses, the Executive Estate and the Ilala Ridge Estate. In an area with such rapid expansion and demand, vacant development land has become a rarity, the opportunity on offer from In2assets would allow a developer to unlock a large number of upmarket apartments and luxury villas.
Luke Hearn, ends his introduction by saying: “The timing for investors and developers interested in the area could not be better, considering the site is now in liquidation.” Hearn adds, “The sale forms part of our March combined property auction and we expect good interest from the market considering the rarity of such prime development land.”
For more information on the sale please contact Luke Hearn on 071 351 8138 or via email on [email protected].