Investor Prospectus · Confidential
A 24-hectare mixed-use SPV, priced to compound.
Ebukhosini Estate Moretele is structured as a Development SPV (Pty) Ltd — 500 sectional title units anchoring a phased retail, lifestyle and rental precinct, 45 minutes from Pretoria CBD in Moretele Local Municipality.
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The Opportunity
Moretele is the next Cosmo City.
Gauteng's affordable-luxury apartment market is dominated by Balwin, Craft Homes and Cosmopolitan Projects — all trading at R 22 000 – R 28 000 / m². Ebukhosini delivers equivalent finish (engineered oak, stone counters, solar-ready DB, fibre) at R 15 500 – R 17 800 / m², unlocking a buyer pool of ± 4.1 million SA households earning R 15 000 – R 40 000 / month — precisely the FLISP-eligible and first-time bond segment that Balwin has priced out.
The site sits 8 km off the N1, 45 minutes from Pretoria CBD, inside a Moretele Municipality growth node with in-principle rezoning support for medium-density residential and mixed-use.
Capital Stack · R 285m equity + debt
Blended, phased, de-risked.
24 ha at independent valuation, vendor-contributed.
Private placement · R 500k min ticket · pref return 12% + carry.
Tier-1 SA property finance on approved SDP + pre-sales trigger.
Revenue Model
Five revenue lines, one estate.
500 units × avg R 1.10m — the anchor cash flow.
±1.5 ha node · boutique grocery store, pharmacy, coffee, fuel.
Levy contribution + hire-out revenue.
80 purpose-built rental units · 7.2% cap.
Estate-wide utility resale margin.
Retail + rental sold to REIT at 8% cap in yr 5.
The Comparables
Better finish. Better price. Same asset class.
| Developer | Estate | Node | R / m² | 2-Bed From |
|---|---|---|---|---|
| Balwin | The Reid | Modderfontein | R 26 400 | R 1 899 000 |
| Balwin | Munyaka | Waterfall | R 28 100 | R 2 195 000 |
| Craft Homes | Ellipse | Waterfall | R 24 800 | R 1 749 000 |
| Cosmopolitan | Blue Hills | Midrand | R 22 300 | R 1 495 000 |
| — | Ebukhosini Estate Moretele | Moretele | R 15 500 | R 1 095 000 |
Sources: developer price lists Q3 2026, Property24 sold-price data, Lightstone comparables. Ebukhosini pricing based on ±R 8 200 / m² all-in build cost + 30% margin.
Programme
60-month sell-down and exit.
- M 0–6Rezoning, SDP, EIA sign-off. Founder round closes.
- M 6–12Bulk services + Phase 01 platform. Off-plan sales open.
- M 12–30Residential build & transfer (Phase 01 + 02, 300 units).
- M 24–36Retail node opens. Lifestyle clubhouse commissioned.
- M 30–48Phase 03 + 04 build (200 units + 80 rental block).
- M 48–60Retail + rental sold to REIT · SPV wind-down · distribution.
Why buyers will queue
The lifestyle Balwin sells, at half the price.
Site
24 hectares, four phases.
Risk
Named, priced, mitigated.
6-month contingency built into programme. Pre-application meeting held with Moretele LM planning.
FLISP-assisted; 3 tier-1 banks pre-briefed. Bond origination in-house.
Prime -0.5% negotiated on senior debt; buyers hedged via fixed-rate options.
Fixed-price turnkey with NHBRC-registered contractor + 10% contingency.
500 units over 48 months = 10 / month vs Balwin's 22 / month at Munyaka.
Base case 8%; sensitivity tested to 9.5% still delivers 19% IRR.
Next Step
First close: R 45m · 30 April 2026.
Request the full information memorandum, financial model and reservation forms. Founder investors receive first pick on residence selection at builder's price.