Nature-lover’s paradise for sale
Five sea-facing stands in 235ha of indigenous bush awash with birdlife at Maitland, Port Elizabeth, will go under the hammer at month-end – and they might just go for a song.
Described as a rare opportunity seldom seen on the market, the land, which borders the Maitland Nature Reserve on the western outskirts of the city, will go on auction at the Radisson Blu Hotel in the Bay at 11am on November 29.
The collection of freestanding properties, according to Pieter Geldenhuys of Bidders Choice, who will be conducting the auction himself, borders the Blue Horizon Bay area and offers a private beach as part of the sale.
Confirming the auction was a “stressed sale”, with owner Tuffsan 178 Property Holdings being described on the Buyers Choice website as being “in liquidation”, Geldenhuys said the property in its entirety was last valued about five years ago at R10m.
Zoned as a “lodge development”, the residential stands will be on offer either as separate, individual units or as a collective, single property.
Terms and conditions of participation in the auction include a R10,000 refundable registration fee, being in possession of Fica documents to register, a 10% deposit and a 7.5% buyers’ commission plus VAT on the fall of the hammer.
“While there is no reserve price, the sale is subject to approval. I expect the offers will come more from those wanting to develop the property as a whole, rather than buyers of individual stands, but we will have to see what happens on the day,” Geldenhuys said.
“The property represents an opportunity to develop a luxury tourist offering in an environment which not only has sea views, but also sweeping views of indigenous bush. A hotel or main lodge can also be accommodated on the site.”
He said the units would be sold with a complete development package that included architectural drawings, site plans and layouts, development cost estimates, suggested contractors, environmental rights authorised by the Eastern Cape department of environmental affairs, and sewage plans.