Umhlanga Development Land To Go Under Hammer
Site is one of the last remaining of its kind in the area.
OVER 1 900m² of scarce development land at Umhlanga will be on offer from In2Assets at its next multi-property auction on October 24 at the Durban Country Club at 11am. Luke Hearn, handling the auction for In2Assets, says the location of the land on Umhlanga Ridge is ideal. “The site is adjacent to the new Cox Yeats building and fronts on to Ncondo Place. The area has recently experienced significant growth with the establishment of the prestige mixeduse Umhlanga Arch and multiple office developments by FWJK.
The land on offer is in a prime commercial node and offers developers an opportunity to secure one of the last remaining sites in the area. Umhlanga Ridge is one of South Africa’s fastest-growing urban nodes,” says Hearn. The AfrAsia Bank SA Wealth Report for 2019 named the Durban-Umhlanga- Ballito corridor as the fastest-growing wealth market in South Africa, with a 25% growth trajectory reported over the past decade. The report says the total wealth in Durban-Umhlanga-Ballito is $54 billion and, between them, the three cities have 210 millionaires. The seller has progressed significantly with development plans for the site, which will have 215 undercover
parking bays. For more information about the sale, contact Hearn at 0861 444 769, email firstname.lastname@example.org or visit www.in2assets.co.za. – Auctions Writer (Sunday Tribune)