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Exclusive and Sole Mandate - Price Reduced for Quick Sale.
Nestled within the Riverside Park gated community, this guesthouse boasts a stunning location with breathtaking views of the Hills in the Addo Elephant National Park. With accommodation for up to 26 people, this property is perfect for those seeking a tranquil retreat.
Convenience is key, as the southern entrance gate to the Addo Park is just across the road, allowing for easy access to one of South Africa's most renowned national parks. Furthermore, the Port Elizabeth Airport is a mere 25-minute drive away, ensuring seamless travel experiences for guests.
It's important to note that due to COVID travel restrictions, the financial statements for the past three years may not accurately reflect the potential of this venture. Interested buyers should consider this when exploring funding options with banks.
Originally listed at R15,000,000.00 ZAR during the pandemic, the owners, who have since reached retirement age, have decided to move back to the UK to be with their family. As a result, they have appointed a husband and wife manager team to oversee the day-to-day operations of the guesthouse. The wife handles bookings and guest management, while the husband, a qualified game ranger, takes guests on safaris in the Addo Elephant Park on a freelance basis.
As a reflection of the current financial statements, the asking price has been reduced and is now non-negotiable. However, at this revised price, potential buyers are presented with an exceptional deal. The property alone is insured for R15,000,000.00 ZAR. Additionally, the property spans two erven or properties. To replicate this unique offering from scratch would require a significant investment, as purchasing a riverfront plot and an adjoining property would cost a minimum of R1,300,000.00 ZAR.
The expansive property also presents an opportunity for further development. With ample space available, a conference center could be established to cater to the growing demand resulting from the expansion and rapid development of the new Coega Harbour Industrial zone, located just a short 15-minute drive away. As seen with the article in the Sunday Times on 10 December 2023, the Coega area is fast becoming a hot spot for investors around the world and this property perfectly suited to provide accommodation or establish conference or training facilities in close proximity to the new Coega IDZ. This could also be seen as a Buy to Let property with a big demand for long term rental units.
Please note that while the guesthouse has consent use rights from the local authorities, this consent is not transferable. The new owners will be required to navigate the necessary formalities to transfer the guesthouse's consent use rights.
Don't miss out on this unique investment opportunity. Contact Bertie van Deventer today to arrange a viewing and secure your stake in this remarkable property.
