Greenbushes Accommodation Investment, Erf 2184 Greenbushes, Corner of Seaview Road & Old Cape Road, Port Elizabeth
Extent: ± 2.1398 Ha | GBA: ± 3 446 m² made up of 31 units | Gross Annual Income: ± R1.3 Million | Zoning: Residential 1 & 5
This site is located just off Old Cape road on Seaview road, Greenbushes. The property is situated directly behind the Old Greenbushes Hotel. The property offers purchasers a unique opportunity to own an existing residential development site with 31 existing income generating units with the upside of having the opportunity to expand this to an additional 26 units.The current 31 units are spacious with an average size of ± 80 m² to ± 100 m². The communal area includes a large pool and braai area for all residents to enjoy.The current zoning allows for 27 units per Hectare with a 2 story limit.
Port Elizabeth is one of the largest cities in South Africa, situated in the Eastern Cape Province, 770 km (478 mi) east of Cape Town. The city, often shortened to PE and nicknamed "The Friendly City" or "The Windy City", stretches for 16 km along Algoa Bay, and is one of the major seaports in South Africa. Port Elizabeth is the southernmost large city on the African continent, just farther south than Cape Town. Port Elizabeth was founded as a town in 1820 to house British settlers as a way of strengthening the border region between the Cape Colony and the Xhosa. It now forms part of the Nelson Mandela Bay Metropolitan Municipality, which has a population of over 1.3 million.
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