Magnificent Four Star Guest House for Sale in Port Alfred
About this business for saleMagnificent Four Star Guest House for Sale in Port Alfred
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
- Dining room
- Two lounges
- Laundry room.
- Garaging for five cars
- Swimming pool
- Braai Facility
- Tool 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 supply
- Standby generator
- Updated cement roof tiles
- Approved 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 R7,750,000 (excl. Transfer duty)
For more information on this great opportunity, please contact the Listing Broker – Neville Loader (071 327 5916)
+27 71 327 5916
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.