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Mandalay B&b Durban North - Or Retirement Home For Sale

Durban, KwaZulu - Natal, South Africa
Asking Price:
R3M - R8M Furniture / Fixtures included
Sales Revenue:
R1.5M - R3M
Cash Flow:
Not applicable

Mandalay is a 10-room B&B and Conference Centre in Durban North which is very suitable for a retirement home.

It has a large swimming pool, conference room for a games room or dining room, separate lounge and breakfast dining room, large patio, pool deck and thatched separate bar on the pool plus a fire-pit area at the bottom of the garden.

The property has ample parking to service all 10 rooms.

It has batteries and inverters for load-shedding backup power and two 1800 litre water tanks as a backup water system already connected to the main water feeder line to the buildings.

Each room is en-suite with DSTV, bar fridge, microwave and coffee setup.

The business is for sale as it stands with all the furniture, equipment and bed linen.

There is a separate, fenced off two room cottage, en-suite bathroom and kitchenette at the bottom of the property.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

Managers two-room cottage, en-suite bathroom and kitchenette with private garden and patio.

Location:

Situated in the Durban North residential area. Pan-handle stand with entrance on the road.

Planning Consent:

None needed

Business Operation

Expansion Potential:

The conference room and patio can be changed to an additional 4 en-suite rooms and are pool-facing and the cottage can be used either as a self-catering letting option or changed to two en-suite rooms. Thus the property has a potential to hold 17 rooms with the staff unit.+

Competition / Market:

COVID has been the most damaging aspect of the business thus far plus the usual electricity and water issues created by the municipality but these risks have been mitigated with the installation of electrical and water backup systems. Competition is not high as there are no other guest houses in the area with a conference facility.

Reasons for selling:

Emigration

Trading hours:

24-hours

Employees:
5
Years established:
2002

Other Information

Support & training:

All computer and booking platform training plus the innerworkings of third parties such as Booking.com and Expedia

Furniture / Fixtures value:
R198,000 - included in the asking price
Distressed:
This business is a turnaround opportunity.