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 ref # 1529


R 10 000 000 (625 000 EUR*)

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± 1632 m2

Development Opportunity for the savvy investor

The L’ermitage opportunity available is an outright purchase of approved development rights contained in the Real
Right and does not entail partnerships or joint ventures.
The purchaser will have the Real Right to develop the sectional title units in accordance with the approved Site
development plan (Minor Changes to the building plans can be made).
The approved rights are vested in the “real right of extension” (RROE) of an approved sectional title scheme. This
extension was formally approved at the inception of L’ermitage in 2007. So, the opportunity is the acquisition of a
number of the RROE’s grouped together which allows for the development of those rights into sectional title
properties. It is not a subdivision of a number of smaller free hold titles, as per the attached RROE plan that was
registered in the deeds office 17 February 2017.
After the development the purchaser/developer can either sell the sectional title units, rent as long-term rental
apartments or the villas can be included in the hotel (L'ermitage) rental pool.
The last two Real Rights available are:
Real Right 4 & 11
Six 2 Bedrooms
Six 3 Bedrooms
Bulk - 1510 Squares
Real Right Size - 1632 Squares
Purchase Price R10 000 000.00 Ex VAT
Real Right 10
Twelve 2 Bedrooms
Bulk - 1866 Squares
Real Right Size - 2196 Squares
Purchase Price R10 000 000.00 Ex VAT

Message Agents

Nike Shulman, estate agent

+27 (0)79 656 1125
+27 (0)21 419 0440
 whatsapp agent
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Matthew Barnes, estate agent

+27 (0)79 902 3486
+27 (0)21 419 0440
 whatsapp agent
View all agent properties