Land could be ideal for the establishment of a large food retailer
In2assets will offer two of the last remaining undeveloped tracts of land at Umhlanga at its September 25 multi-property auction.
The two adjacent retail-commercial plots at 1 and 2 Summer Way Lane cover about 23 400m² and 18 700m² respectively. In2Assets’s Carl Kleinhans, who is handling the sale, says the plots are in Umhlanga’s New Town, a prime, high-density urban mixed-use precinct.
“There is ascarcity of sites in this sought-after area of Umhlanga so we expect very strong interest.” The zoning for both plots allows for 25% mixed-use and 75% residential use with building having to start within two years from date of transfer and be completed within five years.
“There is no large food retailer within this node of Umhlanga Ridge so the development of a food store such as Woolworths or Spar may be a welcome addition for residents and, considering the spending power of the area, become a most profitable business enterprise.”
For more information about the auction at the Gateway Hotel in Umhlanga, call 00861 444769, email email@example.com or visit www..in2assets.com