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An opportunity exists for a real estate developer to take over two already approved and ongoing residential development projects from an established real estate developing company based in Mossel Bay, Garden Route. The seller is looking to immigrate.
Mossel Bay is one of the fastest-growing towns in the Garden Route, Southern Cape. The town was recently named “best-run municipality in South Africa by Good Governance Africa (GGA), placing the spotlight on what the town has to offer those looking to buy a property and settle in a desirable coastal location.
The seller started his career in property development in the early 90s. Since then he developed a variety of housing schemes between Heidelberg, Western Cape, and Groot Brakrivier, with Mossel Bay as the base and center of these developments.
These projects are ready for development and on some of the properties, the developments have been and are ongoing. This offer consists of 2 different projects which could be bought together R6,901,850m or individually (R1,650,000 and R4,555,000) and various development packages already sold with guarantees (value R800,000).
An optional extra is a project that is pending approval which approval is expected by the end of February 2021 and which is also available for R3.3m subject to final approval.
All construction work is subcontracted out so the sellers role in this business is that of a project & financial manager.
If you are a real estate developer, looking to expand your footprint to the fast-growing Garden Route area, this is a great opportunity not to be missed!
The asking price excludes VAT.
The seller is immigrating.
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