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 ref # 4714546


R 499 999 (29 325 EUR*)

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± 12529 m2
R 280.0  / m
R 999.0  / m

Property Features
Family/TV Room

Ideal Opportunity for young people to start on their own or for investment property.

This property is a 2 bedroom unit with lounge, kitchen. Rooms are big and spacious.
Each unit has a locked garage.
There is large play area for children within the complex premises.
The driveway access gate and garage door are motorized.
In order for you to purchase this lovely property, your income before deductions must be R 17 500 or more. This is at an
interest rate of 10%. It can be a combined income. This combined income does not have to be husband and wife. You can
buy with a friend or a work colleague together.
West Park and Kwaggasrand and Proclamation Hill is 3 suburbs in the West of Pretoria. Approximate 13 Kilometers from
Pretoria CBD. It was established by Iscor LTD as a residential area for their workers. Iscor had a huge training facility for
technicians. They had a huge shortage of housing for all the personnel. This led to the development of these 2 suburbs.
Part of their training was to develop and building of the houses and infrastructure.
Iscor (Iron Steel Corporation) was founded in 1928 by Demag, as a state company. Iscor is now known as ArcelorMittal
South Africa. The objective of the company were to produce iron and a range of steel products, and to create employment
opportunities. Production at the Pretoria plant started in 1934. On 4 April 1934 the first steel was tapped from the openhearth
furnace at the Pretoria Works. Wartime needs for steel and the local manufacture of numerous necessities brought
about a sharp increase in demand. Iscor had to expand, and the Pretoria works had reached their limit of growth.
On 17 May 1969 the South African Government decided that Iscor must be decentralize the industry away from from the
Witwatersrand complex and to promote the industrial development to New Castle, the best watered province in South
Africa. Newcastle, as a border area with an adequate supply of labour, and with the Amcor ironworks that could be taken
over to save on initial capital costs as well as to provide an outlet for the iron which was at that time being exported to
Yawata in Japan was therefore chosen.
Al lot of factors influenced this decision, the distance from the steel mines in Sishen to New Castle. The transport and
water. From 1972 to 1977 the largest expansion period for Vanderbijlpark Works followed. Iron making facilities were
extended and the steel making processes modernized by the commissioning of basic oxygen furnaces and electric arc
furnaces. A colour coating line established at the South Works and a whole new works – the North Works was established
to manufacture wide hot-rolled, cold-rolled and galvanized products.
The metallurgical plants at Pretoria were very old and uneconomic and caused pollution; it was thus decided to phase out
the coke ovens, blast furnaces and steel conversion plants, and to replace these with a new facility initially based on scrap
and electric arc furnaces with the later addition of an iron making plant. Certain of the obsolete rolling mills would also be
closed down and the overall works steelmaking capacity would be reduced to about 900 000 tons of liquid steel/annum.
A world oversupply situation occurred in the steel market with export prices falling to uneconomic levels. During 1982
Iscor was thus forced into the early closure of the two oldest blast furnaces at Pretoria Works, as well as the closure of
the so-called South Works at Newcastle which had been taken over from Amcor only a decade earlier.
In the early 1990 Iscor first gave their workforce the opportunity to purchase the properties that they were staying in
before making it available to the public.

Listing Number: 


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