Magnificent Four Star Guest House for Sale - Port Alfred

Eastern Cape

R 7 750 000

Financial Information






Detailed financials available on request


This business was established in 1998 and taken over by the current owners in 2001. It has awesome sea views and is perfectly situated on the main beach road in Port Alfred, a very popular holiday and retirement destination. The size of the building is over 750 square meters, the land measures 1941 square meters and is a consolidation of two stands. The property operates as a guest house on a bed and breakfast basis and offers the following:Seven on-suite bedrooms, all with the highest standard fixtures in bathrooms and furnishings in each room.Two additional bathrooms KitchenDining roomTwo loungesLaundry room. Garaging for five carsSwimming poolBraai FacilityTool shed Special features include:Secured by a four meter high brick wall, electric fence, plus security bars on windows, a video monitoring system and motion detectors.Standby water supplyStandby generatorUpdated cement roof tilesApproved Architectural plans for expansion The business is profitable and operates between 57% to 80% occupancy, depending on the time of the year. It is run by a full time manager and assisted by five full time staff. The owners live abroad and are in their 70's. They no longer wish to travel which creates a wonderful opportunity for the right buyer to acquire this fixed property for continued business use or as a holiday home or syndication. The property is registered in a company and the owners are offering the sale of shares (which includes all assets) for R 8,950,000 (excl. Transfer duty)

Established

1998

Neville Loader
professional

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