Country haven? For R30 mil this massive estate can be yours
If you have a cool R30 million lying around, this massive country estate might be right up your alley. Check it out!
You know what they say: seeing is believing. This massive Durban country estate, currently in the market for R30 million, is definitely something to see. But would you buy it?
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WILL YOU FORK OUT R30 MILLION FOR THIS PROPERTY?
According to Pam Golding, the incredible 10-hectare property, aptly named Richlands, is in Everton in the Greater Durban area. It consists of two large houses, a cottage, a barn, and thirteen plots to sell or develop.
“Richlands is perfect for the most discerning homeowner who wants to enjoy manicured parklike gardens, an undeniable sense of tranquility surrounded by the beauty of natural landscapes, flowing streams, and wildlife while demanding only the absolute best in quality, luxury, and sumptuous living,” the website states.
As per BusinessTech, the 1,200 sqm primary residence was built seven years ago. It features an open-plan design with various large living and entertainment areas. The main bedroom boasts separate his and hers dressing rooms and bathrooms. Each of the four suites has its balcony, while the banquet-sized dining room with electric fireplace, 13m indoor heated swimming pool, movie theatre, and spa room with sauna and a gym allows for various entertainment options.
A DEVELOPER’S DREAM
Not sure what to do with such a massive property? Not to worry.
Pam Golding advises that the property offers prospective owners various living and business opportunities.
With ample “development potential,’ the property boasts 13 additional approved rights. This is good news for potential property developers as it can “potentially be developed into a gated or equestrian estate.”
As per the property agency, the property will be perfect for an equestrian lifestyle center as it has large outbuildings and facilities that could easily be converted into indoor arenas, paddocks, and stables.
Another option is to turn the property into a beautiful wedding venue or conference facility, as the barn could easily be converted into suitable facilities. A Boutique Hotel or B&B are also viable options.
And with the two full houses and cottage on the property, the property offers ample space for extended family. The second house and two-bedroom cottage are also perfect for additional rental income.
A BUYER’S MARKET
In an interview with BusinessTech, the chairman of property group Seeff, explained that sales activity showed a 30% to 40% decrease compared to the post-COVID-19 boom of 2021 and 2022. He added that high interest rates will stick around for the foreseeable future, rendering the seller’s market a thing of the past.
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