19 Apr 2013
With new momentum gathering speed in previously under-developed areas, a fresh sense of activity is emerging in the north east of Johannesburg and Linbro Park is well-positioned to exploit it.
The intended development of this area offers astute developers an ideal opportunity to obtain some of the current residential properties for rezoning purposes.
Linbro Park is situated between Marlboro Gautrain Station and the planned adjoining New Town Centre of Modderfontein and consists of agricultural smallholdings suitable for sustainable human settlement development and for various commercial and business uses, explains Ingle.
“All indications point to Linbro Park being part of the future Central Gauteng business node, positioned in the middle of four city precincts being Midrand, Kempton Park, Edenvale/Germiston and Sandton.”
The area has attractive private sector interest and investments and the surroundings accommodate well-developed, good quality commercial areas.
Naturally, the commercial and retail growth of this area will lead to a great demand in residential densification and Linbro is well-suited for this as it has access to the Gautrain and proximity to places of employment, services and facilities.
The infrastructure has the capacity to accommodate about 25 408 dwelling units with a population of about 81 020 people at an average nett density of 101 units a hectare.
Linbro contains some 228 agricultural smallholdings that range in size from around 1-2+ hectares, which are used primarily for residential and some business purposes. It is predominately privately owned with most sites zoned agricultural, he says.
Almost 50 percent of all erven in this node (which average about 1.6 hectares in extent) are already being considered for rezoning.
At this point developers, investors and speculators comprise the majority of the purchaser interest, he says.
“Property prices in the area indicate a 300 percent increase in value over the last eight years.”
The main driver of this is the massive infrastructure spend by AECI and their property arm, Heartland Property Holdings, whose property holdings border the south, east and north boundaries of Linbro Park
There are several equestrian facilities in the area with local community services, such as schools, crèche, a library, post boxes and a tennis club and also a variety of business uses conducted from some smallholdings such as nurseries, builders' yards, transportation, guest houses and a party farmyard.
An example of a property that can be rezoned to medium/high density residential is 27 Beacon Avenue in Modderfontein.
This large residence on a 17 200 square metre stand comprises of a home and many extras such as a tennis court, stables, outbuilding and a cottage. The selling price is R7 800 000.
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