475 m² Land available in Green Point

Description

A rare opportunity to acquire a registered Section 256 development right for a new rooftop penthouse in one of Cape Towns most tightly held residential locations, together with an additional rear development component.Positioned on the slopes of Signal Hill, the offering provides the purchaser with the right to develop a new penthouse level of approximately 150 m2, together with approximately 100 m2 of exclusive-use roof deck and an existing concrete structural slab. The rooftop enjoys panoramic views across Table Bay, the V&A Waterfront, Green Point Stadium, the City Bowl and Signal Hill.The penthouse development right is the principal acquisition. In addition, the purchaser will have the right to pursue development of a separate rear component of approximately 225 m2, subject to the applicable rights, existing sectional-title arrangements and all required planning, municipal and statutory approvals.The rear component currently incorporates existing ancillary accommodation operated as short-term rental units, providing an established income stream while longer-term development potential is considered.This is not the sale of an existing apartment or completed development. It is the acquisition of a registered Section 256 right to extend the existing sectional title scheme, including the rooftop penthouse development, with the associated rear development potential. No building plan approval has been obtained, and any development will remain subject to the necessary approvals and consents.The registered right remains valid until 31 May 2041.Located on prestigious High Level Road, the property occupies a highly desirable position between Signal Hill Nature Reserve and the V&A Waterfront, offering the opportunity to create a substantial new residential component in one of Cape Towns most supply-constrained locations.A comprehensive Information Memorandum, together with supporting legal, historical, survey and technical documentation, is available to qualified purchasers on request.ASKING PRICE: R14,500,000

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Portal facts

Land size

475 m²

Listing date

15 Sep 2026

Property type

Residential Land

Listing number

T5623467