A rare opportunity to buy residential development sites in La Lucia will be offered by In2Assets at its next multi-property auction on March 17 at 11am at the Durban Country Club. A large volume of land totalling about 54772m² will be knocked down.
A number of residential units could be developed at this ideal location in Ilala Drive, says Luke Hearn, who is handling the sale for In2Assets. “The site offers 180° sea views in the prime upper La Lucia- Umhlanga Rocks area, about 2km south of the Gateway-Umhlanga town centre and 2.5km inland of the Umhlanga Rocks beachfront. The property is directly across from an Engen petrol station, Spar and Woolworths retailers and the Sunningdale Pharmacy and has easy access to the N2, M4 and M41 freeways.”
Hearn says the elevated site on offer has two road frontages: one from Umhlanga Rocks Drive, which slopes down to Timavo Drive and Victory Christian Academy, and a shorter one on Ilala Drive which leads off Umhlanga Rocks Drive to the gated estate of Ilala Ridge.
“The surrounding areas are all upmarket, sought-after housing developments, such as The Executive, The Grand Floridian, Glen-Keys, Key West and Cardea Mews,” says Hearn.
To the north of the property is the La Lucia Ridge Office Estate precinct, with corporate premises of major companies such as RMB Private Bank, BOE and FNB, while on the southern boundary is the affluent residential suburb of La Lucia with the La Lucia Gardens gated estate.
Inland, across Umhlanga Rocks Drive to the west, is a mix of residential and office park developments, including Morelands, the former Tongaat Hulett headquarters. Further north are the corporate headquarters of Unilever and many major financial and legal firms.
“The area to be auctioned is close to all essential amenities, including many public and private schools, medical facilities - including a hospital - as well as beaches and restaurants along a picturesque coastline.
“We expect strong bidding for this property as the growth in both residential and commercial development in this area has been phenomenal in recent years.”
For further information on the sale, contact Hearn at [email protected] or at 071 351 8138 or visit www.in2assets.com.