Descriptions

LIVE AUCTION 12:00PM (noon) on Saturday 26 NOVEMBER 2022 ( virtual & on-site). The Property is situate 9,6 Km South of Coffee Bay, a town on the wild Coast, which stretches for 160 kilometres South from the Kei River mouth to Port Edward in the North and approximately 100 kilometres inland. The nearest large town, Mthatha, is approximately 80 kilometres away. Coffee Bay falls within the King Sabata Dalindyebo (KSD) district. The area is a popular tourist attraction, known for it’s breathtaking views, beaches, freshest seafood , walking trails, free diving , surfing and unbelievable fishing. Ideally located, enjoying breathtaking views within a tranquil environment, consisting of 18 x self-catering units measuring 1736 m2, 35x Backpackers rondavels measuring 246 m2 , 13 x Hotel suites measuring 1144 m2 and 13 Vacant stands totaling 7890 m2. The above facilities exclude common areas, however there is a commercial section measuring 1053 m2, consisting of the hotel common area , back packers kitchen , workshops, staff accommodation , managers flatlet and storerooms. All improvements are, constructed of plastered brick and mortar with thatch roofing, steel widow frames and tiled floors. The Erf is rectangular in shape measuring 4.2079 ha and has a fair gradient towards the ocean, with the improvements evenly dispersed over the land. The site is well located , offering fantastic panoramic views. The perimeter of the facility is secured with electric fencing giving that peace of mind, while enjoying the facilities, away from the unit. It is noted that the facilities Erf is on a leasehold, expiring 5th of March 2083, still enjoying another 61 years at a rental of R 1000 per annum for the entire lease. It is further noted that the facility falls under a share block company and the subject has 15 x outright owners, meaning that the shares available for auction equates to roughly 87 % of the total shares. The actual square meterage used in this report, excludes the outsight owners.

Disclaimer

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on www.instantproperty.co.za, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.