Prestigious river front property in South Gauteng at a huge reduced price.

Become the owner of the most prestigious river front property in South Gauteng at a huge reduced price.

Introduction:

• This exclusive river property in a serene peaceful environment with breathtaking views and a majestic riverfront, was meticulously developed by the existing owner over years, keeping the client’s needs in consideration.
• This resulted in a property catering for weddings, corporate functions, weekend visitors, birthdays, matric farewells, special memorable occasions etc.
• This property of 21,414 square meters, consists of a guest house (934 sq meters), bike room (108 sq meters), office (167 sq meters), guest bedrooms 12-16 (144sq meters), chapel (227sq meters), venue/functions facility (851 sq meters), second house (397 sq meters).
• This secluded high end property is also ideal to host dream retreats on a signature property that has won various awards.
• The reason for selling is that the owner wants to relocate to the Western Cape as soon as possible.

Finances:   

• The owner obtained an independent valuation on the property alone (excluding the income/expenses) and the valuation amounts to R33 million.
• The average income/expenses on the property is as follows keeping in mind that they mostly cater for weddings only on weekends, that June/July every year they are closed and close also after Christmas to middle January, thus 10 weeks of not operational.
• Average income per annum – R3,2 million.
• Average expenses (fixed and variable) according to function – R1,5 million.
• NP (EBITDA) – R1,7 million.
• Taking a ROI in mind of 25% – 30%, the business side is valued at R6 million.
• This relates to a selling price of the property of R15 million, which is R18 million less than the value from the valuation of R33 million.

Selling Price:

• R21 million including all catering equipment, assets, furniture etc.to the value of R5 million.