Real Estate

Good Essays
Selection and description of site
APPLICATION FOR REMOVAL OF RESTRICTIONS, SUBDIVISION AND REZONING IN TERMS OF LUPO 15 OF 1985 FOR A PRPOSED SECTIONAL TITLE UNIT DEVELOPMENT ON THE SUBJECT PROPOERTY: ERF 19787, AVONWOOD, GOODWOOD

Owner and acquisition strategy for the site
The subject property is currently vacant and in the ownership of the City of Cape Town. There is a demand for housing within the area, with a 40% to be used as sectional title units and the 60% to be used for single residential. This site was acquired trough expropriation in terms of the Expropriation Act in order to provide the housing that is in demand.

Institutional attributes and possible land uses
In terms of the Western spatial Development Framework, the subject property is located on the corner of Balvenie Avenue and 35th Street, within the Avonwood suburb and is earmarked for High Density Development.
The subject property falls within the Elsies River Zoning Scheme and is zoned Public Open Space.
Access to the site can only be obtained from Balvenie Avenue or Alternatively Cl Adams Street due to the fact that 35th Street is classified as an expressway.
Parameters regarding to the site can be viewed in Elsies River Zoning Scheme which can be found on the City of Cape Town’s website.

Physical nature and land improvements
There are no conditions which prohibits the development of the site. Bulk services are available around the site which makes it easy to tap into.
Eskom calculated an estimate cost per unit but will finalise all costs once they receive the final development plans.
The land is relatively flat and the soil will not cause any interference with the foundation or structure.

Location analysis
Important aspects of the site are factors such as the shape slope. The site is relatively flat and the shape is rectangular.
With 35th Street being an expressway it generates traffic at all times of the day which exposes the site.
On the flip side, 35th Street

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