Investor/franchisee required for the development of a feasible residential affordable housing projec

Description

Affordable housing development investment opportunity available in Kuilsriver, Cape Town.South Africa is experiencing a significant housing shortage, with strong demand for affordable housing solutions. The affordable housing market continues to attract first-time buyers seeking quality homes priced below R1 million.The developer and master franchise holder behind this project has extensive industry experience and a proven track record of successful developments in Gauteng. A partner, investor, or franchisee is now sought to assist with the development of a 106-unit residential project in Kuilsriver, Cape Town, where the land has already been identified and is ready for development.The project comprises a multi-family sectional title apartment development on a 7,127 sqm land parcel, consisting of 106 two-bedroom apartments with an average selling price of approximately R950,000 per unit.The development will consist of eight blocks of three-storey walk-up apartments, with each unit featuring private balconies.Phase 1 will include 53 units with an average unit size of 44 sqm, excluding balcony areas, offered at a discounted selling price of R925,000 per unit. Phase 2 will consist of a further 53 units with the same unit size, selling at approximately R975,000 per unit.Each phase is projected to require development costs of approximately R40 million.The land already has the required zoning approval for the proposed development. Funding is required for the initial land acquisition, municipal development contributions, and pre-development professional costs.