Commercial space in Illovo Beach

Well known, extensive well situated South Coast property for sale.andnbsp

REMAX Toti is proud to have been selected to offer, exclusively, this extensive property for sale.andnbsp

Having been under current ownership for over 30 years, the property covers a massive 2.43 hectares, and is perfectly located in Illovo Beach, just a few kilometres from the bustling hubs of Winkelspruit, Warner Beach and Amanzimtoti.andnbsp

However, the serenity and tranquility of this property are evident as soon as you enter through the large double gates at the entrance.andnbsp

The lush, tropical setting amongst manicured gardens and large established indigenous trees, evokes a holiday mood, with the sounds of the Indian Ocean breakers clearly audible.andnbsp

The property and the business owning entities are separately owned, but are offered in this instance as one, as a business investment.andnbsp

The property has been tarred throughout, the roads leading you to the 68 lettable sites, of approximately 200m2 each, along with the 69 lettable lock up garages.andnbsp

Each of the sites is occupied by a Park home installed and owned by the owner thereof, for which a monthly rental is charged. These are either used as permanent residences by the owners, or are let out to Tenants. Rent is payable monthly on all these sites, with annual renewal escalations taking place in the first quarter of each year.andnbsp

Immovable properties on site consist of a two bedroom, two bathroom unit, together with a garage, for use by the park manager. There is also a flat and garage for use by the maintenance manager, as well as:andnbsp

Two work shops, a staff teacanteen, a garden shed, and a hall with male and female ablution facilities.

These immovable properties are owned by the Business

There is a Large Communal Pool Braai Area and Access to the Beach.andnbsp

Information supplied by the auditors who oversee the affairs of the operating entity highlight just how much of an attractive purchase this is.andnbsp

Over the past three years, net monthly income generated equates to nearly R108.000, at a net profit percentage of 50.andnbspandnbsp

They have placed a value of nearly R5.2m on the operating entity. Deducted from the asking price of R14.9m, this leaves a price on the land at R9,7m, or R398 per square metre, well below the average for the area.andnbsp

An analysis of recent sales of five vacant land properties in the immediate area, reveals an average price paid per square metre of R1167, highlighting just how attractive this large piece of land is at this price.andnbsp

In conclusion, and to summarise:andnbsp

At an asking price of R14.9m we are offering a large tract of land, upon which operates an extremely profitable business. The land and business are owned by separate entities, but are offered for sale as one.andnbsp

The land is being offered at a below average cost of R398 per square metre, and the business has an auditor''s value placed on it at R5.2m, recouped over a period of four years due to a 50 net profit margin.andnbsp

The coastal setting, set amongst lush gardens, mature trees and located a mere 250 metres from the Indian Ocean all add to the attraction of this investment.andnbsp

Income and Expenditure Statement year ending 28 February 2025 and Inventory of Assets as per 1 April 2025 available on request.

Price: R14 900 000.00 Land and Business Sold as ongoing concern

Land: 24334 sm

Rates: R11602.00 pm

REMAX Toti operates in terms of a franchise agreement with REMAX of Southern Africa.andnbsp

UPPER HIGHWAY ESTATES CC trading as REMAX Toti Amanzimtoti operates in terms of a franchise agreement with REMAX of Southern Africa.