Property prices are set to soar in the north-eastern Free State town of Frankfort, located just 90 minutes from Johannesburg and situated on the banks of the Wilge River.

Over the past three years residential property in the area has shown 30 percent year on year growth, says Pam Golding Properties area principal, Phil Medlock.

"Currently the average price of a home in Frankfort is around the R500 000 mark, however, with prices coming off a low base there is sound potential for good growth in property values. Being within easy reach of Johannesburg and an appealing and tranquil town, Frankfort is increasingly in demand as a country getaway," says Medlock.

Founded in 1868, the town has significant historic relevance, having been the scene of many Anglo-Boer war battles. A magnificent sandstone NG church takes pride of place in the centre of town and the police station, magistrate's office and post office have all been declared national monuments by the Monument's Council, while many other sandstone buildings dating back to the early 1900s are in evidence both in the town and surrounding farms.

PGP are currently marketing various commercial properties as well as residential properties, many with water frontage onto the Wilge River. The most notable of these is the Frankfort River Resort which comprises 42 caravan sites, 12 rondavels, nine chalets, restaurant, main house and several other buildings. Set on over 7.5 hectares with 630 metres of prime river frontage in the main part of town, this property is marketed at R5.5 million. Also on the market is the Frankfort Arcade, ideally situated on the main road and which consists of 11 offices, 13 retail shops and nine furnished lodge rooms. All the offices and shops are fully tenanted, and the entire property is on the market for R3.5 million.

Says Medlock: "To cater for the increasing demand for residential accommodation, we are currently in discussions regarding the establishment of an eco-estate to be located on a prime 180 hectare site on the banks of the river. This estate will offer the opportunity to escape to an exceptional country setting with numerous facilities including horse riding, game viewing, fishing and bird watching."

The source of the Wilge River lies in the Maluti Mountains, feeding the Vaal Dam -which lies just downstream from Frankfort - with clean mountain water. The river also provides excellent watersport and fishing opportunities.

Photo:b> The Frankfort Arcade, comprising offices, retail shops and furnished lodge rooms, is on the market at R3.5m.

For more information contact 016 371 1377 or 082 456 2963 or email vaaldam@pamgolding.co.za.

Readers' Comments
Have a comment or question about this article? Email us now..

Need a home loan?
Are you getting the best deal on your home loan? Property24 will get you the best rate on your bond from any of the major banks. If your credit record is clean and you are interested in a new or additional home loan, or in switching to improve your interest rate and tap into your home's equity, Click here to apply now.

Property News
Click here for more property news articles or sign up now for our free news SMSs twice a day.

Need a blog?
Start your own blog with a free blog from 24.com.