Linbro Park and Modderfontein in Gauteng are developing rapidly with thousands of new residential units set to be built in 2018 and huge opportunities on the commercial and retail front.
Linbro Park
This farm property of 17 334sqm, earmarked for rezoning to retail, offers a prime investment opportunity. It is on the market for R10 million - click here to view.If Council has their way and all goes according to plan, Linbro Park in Gauteng could have up to 16 000 residential units on offer by the end of the year.
So says David Ingle, Seeff’s MD in Edenvale and Bedfordview, who notes that residential and agricultural plots in Linbro Park of between one and two hectares each have doubled in value while property prices indicate a 339% increase over the past decade.
In 2007, the average average price of registered properties excluding interfamily and commercial transfers was R2.8 million, while in 2017 this had increased to just over R12.3 million.
"When joined to Century Property Developments in the North, development in Linbro Park coupled with activity in Modderfontein, has the ability to become the central spine of a new, modern, tech savvy heart of Africa’s powerhouse: Gauteng,” says Ingle.
Ingle says development in Linbro Park includes the Meadowview Office Park precinct that is expanding one block to the north with its boundary finishing on Ronald Avenue. “This should be the final phase of this successful commercial precinct, adding a couple of hundred thousand square metres of warehousing and logistics space to the southern part of Linbro Park.”
He says Intaprop have managed this estate well and “values have continued to impress”, while north of Ronald Avenue, several new rezoning applications have recently been approved by Council, mostly for special zoning, retail and residential.
Balwin Properties are launching two complexes by end of March 2018 along Clulee Road in Linbro Park, says Ingle. The Reed, a complex of approximately 1 800 residential units for sale to the public, as well as a second complex called The Clulee, with around 1 800 sectional title units, have been presold as rental stock to a listed entity administered by International Housing Solutions (IHS).”
He says Balwin are active in searching out further residential opportunities in Linbro Park for the construction of several thousand additional units, while smaller residential developers are busy with planned sectional tittle development of several hundred units each to be launched during 2018.
This 67sqm one bedroom apartment at Westlake is ideal for a young professional with complex facilities that include a gym, heated pool, fitness track, laundromat, boardroom and Amici restaurant. It is selling for R980 000 - click here.“Road and service upgrades in Linbro Park will begin in earnest this year and several new entrances along the K113 from Westlake into Linbro Park are expected to begin construction.
Further warehousing opportunities, mainly for rental tenants, are under construction in the Northern Section of Linbro Park around the Gautrain railway line”.
Ingle says some retail and office opportunities are also being explored along Clulee and Oak Avenues in the centre of Linbro.
“We have also recently sold a Linbro Park property to the Methodist Church of South Africa, it seems that all the elements of a thriving new community are coming together,” he says.
A very busy year for Linbro Park lies ahead that will create massive opportunities on the residential, commercial and retail front, says Ingle.
Modderfontein
Ingle says in Modderfontein the new Busamed Hospital in Longlake, on Marlboro Drive, is now in full operation.
“Zendai, who bought from Heartland several years back, have recently sold their landholding to M&T Developments, a strong player in Midrand and Centurion.
“M&T Developments have recently launched the successful Fish Eagle View in Longlake consisting of sectional title apartments with one, two or three bedrooms.
Additionally they are also ready to launch a new offering in the Westlake area of Modderfontein, called Red Ivory, consisting of one to three bedroom units”.
Ingle says Modderfontein is set to eventually accommodate around 30 000 residential units. “The future town centre, Modderfontein New City, along with the much anticipated Modderfontein Gautrain station are highlights to look out for.”
He says the general area is in desperate need of suitable schooling facilities to cater for the influx of new families and hopefully this will also be accommodated in the near future.
