26 AUGUST 2020 / 11:00AM
ONLINE LIVE ZOOM AUCTION
317 CURRIE RD, MUSGRAVE
** DEVELOPMENT PROPERTY **
The subject property is centrally located within the residential area of Musgrave, enjoying unsurpassed views of the Central Bowl. Musgrave is a mixed-use suburb of high and medium residential density with Botanic Gardens, Musgrave Shopping Centre, quality schools, professional and social amenities located therein.
Ideally located with ready access to the N3 and N2, bordered by Berea, Overport and Greyville suburbs.
Description of Improvements
Existing development presently comprises an incomplete proposed residential up-market block of apartments, being constructed in compliance with a re-zoning application an FAR of 5.3. According to the relevant information provided, development is 75% complete.
A Sectional Title Plan SG No. D61/2019 – Serengeti Rise has been approved but unregistered at Deeds Office.
The development is being built in accordance to the FAR of 5.3 which permitted a nine (9) storey residential block of upmarket apartments, viz. Basement, Floors “G – 6” and penthouses on the remaining floors.
The Property enjoys unsurpassed views of the City “Bowl” and Coastlines.
Typical Layout of the floors comprise:
Two (2) residential apartments with double parking garage, staff quarters and terrace per apartment per floor. (4 Bedroom Apartment with staff accommodation averaging 430 m²/unit).
The Basement Floor will comprise:
Access to the development will be by pedestrian lift and a motor vehicle lift (Shafts have already been constructed); Undercover Parking, Entrance Foyer, Gym Area, Board Room, Prayer Room.
The intention of the developers was to sell the units individually as a shell, with electricity and water services, the onus of the internal finishes, flooring, etc being left to the owner to complete.
At present the building is incomplete and the following description of the existing state of development is as follows:
Basement: 2 x Swimming Pools (Shells), Security, Boardroom, Prayer Room, Gymnasium and entrance to lifts
Floors G – 6: A constructed shell with division wall separating the two apartments per floors; services to floors 1 to 5 exist; separate Staff Accommodation
Penthouse (x 2 Floors): No evidence of construction – access blocked
Lifts: Shafts Partially Constructed
Note: Auction Excludes Scaffolding/ Decking & Hoist
Monthly Rates : ± R 2 805.00 (Estimated)
Erf 2230 Portion: 1 620 m² (Cadastral)
Erf 2204 Portion: 1 1226 m² (Cadastral)