This upmarket property is sold as a going concern, and everything seen in the pictures is included with the asking price with the Managers vehicle and Safari vehicle also included. The Hills that can be seen behind the old steel bridge is in the Addo Elephant National Park and the Guesthouse is situated in the Riverside Park gated community and can sleep up to 26 people. The southern entrance gate into the Addo Park is just across the road within 2 minutes’ drive and the Port Elizabeth Airport only a 25-minute drive away. Due to COVID travel restrictions the last 3 years financial statements are not what they should be, and any potential buyer will have to keep that in mind if they consider funding from the Banks. The Guesthouse was first put on the market at R15 000 000.00 ZAR during Covid, but the owners who developed and built the property reached retirement age and decided to move back to the UK to be with their family and appointed a manager husband and wife team. The wife looks after the bookings and guesthouse whilst the Husband is a qualified game ranger taking the guests in the Addo Elephant Park for their safaris on a freelance basis and getting paid per safari or trip into the park. The asking price was reduced due to the lack of good financial statements and is not negotiable. At the current asking price the new owners get a very good deal, because just the property or buildings is insured for R 15 000 000.00 ZAR and the content with vehicles for R 2 700 000.00 and the buildings is on two erven or properties. If you were to buy a riverfront plot and one bordering it, you would be looking at a minimum of R 1 300 000.00 ZAR. In other words, should you want to start a Guesthouse from scratch, in this prime location, then you would have to pay almost double the asking price. There is enough space on the property to develop a conference centre, as there is a big demand due to the expansion and rapid development of the new Coega Harbour Industrial zone which is only a 15-minute drive away. The Guesthouse do have consent use rights from the local authorities, But it is Not transferable, and the new owners will just have to go through the formalities to transfer the guesthouse consent use rights.
There are just too many items included to mention, and we do have a full inventory available for any serious buyer or investor who is prepared to provide proof of funding. Contact Bertie van Deventer today if you wish to view this unique investment opportunity.
