Web Ref CL34724
18 June Auction - Prime Development Land Opportunity - 16th Road Midrand
18 June Auction - Prime Development Land Opportunity - 16th Road Midrand
This prime property is one of the last remaining undeveloped agricultural holdings within the immediate area along 16th Road in Glen Austin, Midrand. It is therefore a key strategic asset for a property developer looking to develop an industrial/commercial offering within the Midrand node. The site is ideally positioned for development as it borders, and has key exposure, onto both 16th Road, as well as the important Old Pretoria Road, and is surrounded by established business enterprises. Businesses such as Pinnacle, the Johnson and Johnson Campus, Stevens & Co as well as prominent motor vehicle businesses, as one moves towards New Road, including Hyundai, Group 1 Mahindra, Isuzu, Lexus, Nissan, Mcarthy Toyota to mention a few. The Constantia Business Park, Central Park and Mitek Park are also located in close proximity. Ownership structures within the immediate node are characterized by a mix of JSE - listed property funds, institutions and private property owners.
In terms of the macro locality, Glen Austin in Midrand is situated between Johannesburg and Pretoria and is in close proximity to the newly developed Waterfall Precinct. The N1 is easily accessible in both a southerly and northern direction, via New Road and Old Pretoria Road, hence the strategic development of established businesses within the immediate node. Furthermore, there are significant road infrastructure upgrades currently underway at the intersection where Old Pretoria Road meets Olifantsfontein Road, which is likely to have a promising impact on the micro locality.
From an investment perspective, the most likely highest and best use for the property is a commercial development, aligned to an industrial offering, and therefore any prospective purchaser would likely need to undertake a rezoning process in order to unlock this use. The seller of the asset if fully aware that a prospective party would likely undertake a rezoning process and has accounted for this in their expectations. One could also acquire the property for agricultural purposes and depending on your vision, an investor could possibly establish a farmers market on the site to service the node (this could be a great idea, whilst the rezoning process is being undertaken).
The choice is ultimately up to you as the investor, however, from a supply perspective the reality remains that this is one of the only vacant stands available along 16th Road and is ideal for a prospective developer.
This prime property is one of the last remaining undeveloped agricultural holdings within the immediate area along 16th Road in Glen Austin, Midrand. It is therefore a key strategic asset for a property developer looking to develop an industrial/commercial offering within the Midrand node. The site is ideally positioned for development as it borders, and has key exposure, onto both 16th Road, as well as the important Old Pretoria Road, and is surrounded by established business enterprises. Businesses such as Pinnacle, the Johnson and Johnson Campus, Stevens & Co as well as prominent motor vehicle businesses, as one moves towards New Road, including Hyundai, Group 1 Mahindra, Isuzu, Lexus, Nissan, Mcarthy Toyota to mention a few. The Constantia Business Park, Central Park and Mitek Park are also located in close proximity. Ownership structures within the immediate node are characterized by a mix of JSE - listed property funds, institutions and private property owners.
In terms of the macro locality, Glen Austin in Midrand is situated between Johannesburg and Pretoria and is in close proximity to the newly developed Waterfall Precinct. The N1 is easily accessible in both a southerly and northern direction, via New Road and Old Pretoria Road, hence the strategic development of established businesses within the immediate node. Furthermore, there are significant road infrastructure upgrades currently underway at the intersection where Old Pretoria Road meets Olifantsfontein Road, which is likely to have a promising impact on the micro locality.
From an investment perspective, the most likely highest and best use for the property is a commercial development, aligned to an industrial offering, and therefore any prospective purchaser would likely need to undertake a rezoning process in order to unlock this use. The seller of the asset if fully aware that a prospective party would likely undertake a rezoning process and has accounted for this in their expectations. One could also acquire the property for agricultural purposes and depending on your vision, an investor could possibly establish a farmers market on the site to service the node (this could be a great idea, whilst the rezoning process is being undertaken).
The choice is ultimately up to you as the investor, however, from a supply perspective the reality remains that this is one of the only vacant stands available along 16th Road and is ideal for a prospective developer.
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