Residential complex for sale in Koingnaas

Versatile Investment Opportunity with Strong Rental Potential

This well-located property, formerly used as a hostel in a mining town, presents an excellent investment opportunity with multiple redevelopment possibilities.

The property comprises four separate blocks, each consisting of eight bedrooms, all arranged around a large central courtyard, creating a functional and communal layout.

Each block is currently serviced by communal bathroom facilities, including showers, toilets, urinals, and basins, originally designed to accommodate the occupants of the eight rooms per block. In addition, the property offers a communal kitchen and communal lounge area, which could remain as shared facilities or be repurposed to suit a new development vision.

The layout and structure of the property lend themselves well to conversion and renovation. There is strong potential to:

• Convert two bedrooms into bachelor units, or

• Combine four bedrooms to create spacious two-bedroom units

Such conversions would cater well to the town's periodic rental shortages, particularly for single occupants or couples, allowing for the generation of a sustainable rental income.

The property also offers ample space for tenant parking, adding further value and practicality for long-term residential use.

With its existing infrastructure and adaptable design, this property is ideally suited for an investor or developer looking to reconfigure and maximise rental returns in a high-demand area.