Posted on November 20, 2020
Price : R 3 900 000
Listing Type : Commercial Property
Location : Eastern Cape
Size : 1000 m2
Ref no. : 2673

Post Covid-19 Bargain of the century Commercial Property at R3.9 million

This place is looking for a dynamic entrepreneur with vision. Imagine purchasing a commercial property of nearly 1 000 m2 under roof for only R3.9 million (excluding VAT)!! Its replacement value is R9 million (excluding VAT) plus. The building is currently being used as a very profitable guest house with 11 on-suite rooms, three self-catering units and fully licensed premises.

Should you wish to take over the guest house section, an appropriate additional cost can be negotiated with the owner, but let us also discuss alternatives.

The property has high visibility and quick access to various amenities. It allows day-trips to for example Citrus farms, Addo Elephant Park, Jeffreys Bay, Port Elizabeth and various other tourist attractions.

With vision and full utilization of the space you can pay off the bond plus all expenses and still have a surplus left. The building will pay for itself. Let us discuss possibilities such as an old age home, converting the rooms into simplex units to either sell or rent out, keep the guest house and better utilize the restaurant and cocktail bar areas, and many other options. Open land will also allow more rooms/units to be erected. It is not listed with Air B& B at the moment and this will open up additional income streams.

This is a definite first-come first-served deal which will enable an entrepreneur a very good ROI. Look at the pictures.

Features
Commercial
Lee Van Wyk – Agent Port Elizabeth