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Open Sky Entertainment Farm In Port Elizabeth For Sale

Port Elizabeth, Eastern Cape, South Africa
Asking Price:
R6,500,000
Sales Revenue:
R504,000
Cash Flow:
R360,000

Sole and exclusive mandate
If you are looking for properties with development potential, then this might just be for you, whether you are looking to develop new storage units or a new housing development.
This property is situated in a PRIME location just off the N2 at the Seaview off ramp and the Farm name is Little Chelsea. The farm consists of two portions with the bigger portion measuring 3.547 Ha and the smaller portion measuring 1.547 Ha. The two portions are sold together measuring 5.317Ha and the asking price will exclude 15% VAT, as the owner of the properties is a VAT vendor. The asking price will include all the moveable assets of the Business and we do have a full inventory available.
The property or venue is well known for its entertainment from young to old in Port Elizabeth or Gqeberha. Sadly, due to the Covid lockdown and restrictions the last two years, the current tenant handed in the keys and the owners decided to rather sell the property as they do not live in South Africa anymore. Unfortunately, there is no financial history available as the Open Sky Business was on a leasehold with a third party.
Before Covid, they had live events with famous singers like Theuns Jordaan with over 900 people attending, but then SA Breweries brought in extra tables and chairs. During normal events they can sit 400 people comfortable in the Lapaside and 100 people in the Coffee shop/restaurant which was also used for weddings in the past. There is also a children play area inside with jumping castles and putt putt or Mini Golf area outside with big child friendly swimming pools with slides and play park.
The roof in Lapaside can slide open for those days with perfect weather conditions and that also where the name Open Sky came from.
There is a caretaker living in the one-bedroom house and then they have tenants in the two-bedroom house and the owners use to live in the three-bedroom house but rented that out as well when they left South Africa. The other two houses on the property need a lot of work done on them and not occupied but can be converted into a pre-primary school or children’s party venue.
In the past they also had a petting farm with a big bird aviary where children could interact and feed the animals, but currently there’s no animals left, just the infrastructure.
We do have an agreement in place with the owners that we will only show potential buyers around that is prepared to provide proof of funding or with the means to obtain funding. Contact Bertie van Deventer today to arrange your viewing or for any additional information

Property Information

Real Estate:

Real Property Included

Business Operation

Reasons for selling:

Owner living overseas

Other Information

Related Documents:
Home based:
This business can be run from home.

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