Hoeveld Park, Witbank Flat / Apartment for sale / to buy

New Development - Investment Property Hoeveld Park, Witbank, Mpumalanga, South Africa

Price: R388,000

Investment opportunity in new development in Witbank - 30 sectional title units offered : bachelor (34,8 sq.m) to 2bedroom/2bathroom units (83,8sq.m). EXCUTIVE SUMMARY : Excellent location. Witbank and its surrounding area are experiencing huge growth in mining and related industries. It has become the focal point of Africa's largest coalfields, power stations and steel manufacturing which has created a great residential property demand. Strong rental market. Rental income expected for units are R3,500 to 4,000 pm. 30 Sectional title units are offered 5 Different unit sizes: Unit 1, 83,8 sq meters, two bedrooms, two bathrooms, patio, R655,000 Unit 2, 66,6 sq meters, two bedrooms, one bathroom, R588,000 Unit 3, 40,5 sq meters, one bedroom, one bathroom, R No units available Unit 4, 34,8 sq meters, bachelors unit, one bathroom, R388,000(only one unit available) Unit 5, 74,3 sq meters, two bedrooms, two bathrooms, R630,000 Competively priced at an average sq meter price of R8,379. Other developments in the area, units are selling for an average of R9,312 per sq meter. Security complex Communal area with pool Undercover lock-up parking Only R5,000 deposit No transfer or registration costs payable Witbank Property Market : Witbank is the energy centre of South Africa and the focal point of Africa's largest coalfields, power stations and steel manufacturing. The area has seen positive economic growth over many years. This situation has generated a tremendous growth for residential property demands in the greater Witbank area. Once dependant on coal, electricity and steel, Witbank is now booming with a far more diversified economy and the property market has never looked stronger. In the past, the mines and Eskom were the major drivers of the local property market. But these quasi-government organizations - or 'quangos' in popular parlance - have now divested themselves of their property holdings, transferring ownership to private individuals. In the process, they have fuelled a property boom in the area that has helped to spur the economic transformation of Witbank as a whole. The diversification of the economy has similarly brought about a broadening of the property base, which has opened the way to middle- and upper-class property development and trading. An influx of retail development is further evidence of the economic health of the town. It has been both a catalyst for and a consequence of increased residential property growth. There has also been an increase in the number of commercial property developments, reflecting the ever increasing demand for commercial and industrial property. The latest include the N4 Business Park and the new BHP Billiton head office General Background Information on Witbank: Situated approximately 120km from Johannesburg and 100km from Pretoria, heading eastwards on the Maputo Economic Corridor, lies the city of Witbank. Development in the area began during the mid 1800's when farmers settled in the Highveld and began mining coal from outcrops in riverbeds for cooking and heating purposes. Early attempts to exploit coal deposits failed until the construction of Paul Kruger's Pretoria/Lourenco Marques railway line reached the town in 1894. Witbank Colliery was established by Samuel Stanford and the Neumann group in Zeraatsfontein (now called Leraatsfontein) and the name 'Witbank' was derived from a white quartz outcrop, which according to Thomas Baines, "lommed like a wagon tent in the distance'. The town was laid out by Witbank Colliery in 1903 and Samuel Stanford erected the first wood and iron buildng consisting of a shop and hotel. Witbank grew from a wild mining camp into a city in an 88-year period and its economy developed a wide base, restricted not only to coal mining but incorporating steel manufacturing, power generation and professional services, as well as the informal sector. The collieries presently in operation mostly use the opencast mining method due to the proximity of coal close to the surface. Railway lines to Richards Bay and Johannesburg were added to those from Pretoria and Maputo, (Lourenco Marques) and excellent road infrastructure exists between all major cities and centres within and outside the province. The city, with an approximate population of 500 000 people of diverse cultures, boasts the largest municipal dam in the Southern hemisphere, with a catchment area exceeding 3540 square km. The dam area is used extensively for water sports and has camping, caravan sites and chalet accommodation. The adjoining nature reserve is a nature-lover's delight, with 50 different tree species and 150 flower varieties, amongst which are the rare ground orchids and gladiola type. It supports a wide variety of game species and various trails have been mapped out in the reserve, where 173 bird species can be detected. The city is provinical home to may sporting disciplines and performing arts. Regular productions of the performing arts are presented in the fully equipped, five hundred seater civic theatre, which forms part of the Witbank Cultural Centre. The curltural centre is situated in the central business district, with easy access from the main motorway and incorporates a city and banquet hall. Tourist attractions include the nature reserve, industrial coal mine and power station tours, cultural experiences, adventure sport, environmental activities and water sport. The city also boasts several top class golf courses. There are several accommodation possibilities, such as hotels, B&B's, self catering units, lodges, as well as camping and caravanning. An hour's drive from Johannesburg International Airport, Witbank can provide an ideal overnight stop with various activities to entertain visitors as they enter the 'Gateway to Mpumalanga'. Witbank owes it's establishment to the rich coal deposits in the area. Early travelers in the area, such as Thomas Baines, as far back as 1872 mentioned the coal used by local residents as fuel.Evidence has also been gound that first the Black man and later the Voortrekkers mined coal from the outcrop, especially in the riverbeds and transported it by ox-wagon to the Witwatersrand.Actual systematic mining at Witbank, however, on started in 1896 when Samuel Stanford, together with the Neumann Group, established the company Witbank Colliery Limited and sank the first shaft on the farm Witbank. Earlier, the farm was generally knows as Swartbosch, although the offical name was Leraatsfontein. It was given the name Witbank because it was not so cumbersome and because of the large quartz roc which, in the words of Thomas Baines, "loomed like a wagon tent in the distance." Because of the poor agricultural conditions, the owner of the farm, Jacob Taljaard, made a precarious living and as a result, his neighbors name the farm "Hongerplaas" (Hunger arm). The town Witbank was laid out in 1903 by Witbank Colliery Limited and in the same year Samuel Stanford erected the first wood and iron building, consisting of a shop and a hotel. Witbank Colliery Limited controlled the town until 9 April 1906 when a health committee was appointed. On 13 May 1910 a village council was elected and on 8 November 1914 the town was granted municipal status. The mining of coal did not initially result in a population increase. The advent of the railway line between Pretoria and Mapato put the mining industry on an economic basis and therafter the population increased considerably. Originally the early residents of Witbank area were mainly stock farmers as there was no market for agricultural produce. Wool was transported once a year by ox-wagon to Durban where it was sold. Crops were restructed to the needs of the family. Today, mixed farming is practiced in the area. Because of the coal mines in production in the area, Witbank is one of the Republic's most important industrial centers with industrial giants such as Highveld Steel, Columbus Stainless and Vanadium and Ferrometals Limited. Witbank now forms part of a large municipality called Emahlaleni incorporating the towns of Kriel and Ogiese.

Property Facilities Hoeveld Park, Witbank property

◊ Bedrooms: 1◊ Bathrooms: 1

◊ Security◊ Kitchen

Contact Details Hoeveld Park, Witbank property

Benhard Wiese Tel: 084 611 2293 to e-mail this agent   More properties by: Benhard Wiese   View all properties by: Cape Coastal Homes

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