Detailed financials available on request
A COVID-19 proof investment opportunity in real estate! Property with development potential. Once in a lifetime opportunity to purchase a property/asset that can give a passive income which can potentially offer a cash buyer a return on investment of more than 18% p.a This property was run a Guest House & B&B until the owners changed their business model to that of a passive income-generating business by offering accommodation to short term tenants. This spacious accommodation consists of 12 en-suite bedrooms with a communal kitchen and dining room, a spacious and comfortable 3-bedroom house for owner/manager accommodation, and a spacious 1 bedroom granny flat. It is on a large property in a lush, leafy suburb in a fast-growing Garden Route town, George. The property is near a popular and world-renowned golf resort and residential estate, near public transport, the airport, and local school. This neat, comfortable building is on two levels and offers beautiful countryside and mountain views. The 12 bedrooms are decorated with a modern feel. Some rooms have outside balconies from where the picture-perfect view of the mountains and surroundings is enjoyed. Rooms have their own entrances and there is ample off-street secure parking. There is the option to build additional accommodation on the property which can add another 8 – 12 flats of ±70m² each. This will require municipal approval. Zoning allows for consent use of the property as a boarding house, guest house, or guest lodge. This is a great opportunity to acquire a well-maintained asset that can generate passive income while offering lots of other options. The owner is keen to sell due to health challenges. Asking price excludes VAT.