Development Opportunity with Stunning Views in Port Alfred.
Exceptionally positioned and primed for development, this expansive 8327-square-meter parcel is zoned General Residential, offering boundless potential. Nestled in a desirable location, it boasts an elevated vantage point, affording breathtaking views of the Ocean, River, and Marina.
The two properties located at 41 Grand Street are owned by Greenwood Place (Pty) Ltd, a VAT registered vendor. The two options applicable to selling the properties would be:
1. Sell the property from Greenwood Place (Pty) Ltd to the purchaser. Greenwood Place (Pty) Ltd would include VAT on the price and there would be no transfer duty applicable. If the purchaser is VAT registered then they would be able to claim the input VAT.
2. Or sell the shares in the company to the purchaser. The purchaser would become the new owner of the company which also currently has an assessed loss of R334 674 as at Feb 2023.
History
In the early 1820's Port Frances and Port Kowie were founded. In 1841 South Africa's first man made harbour was opened here. After numerous name changes, in 1860, Port Alfred was renamed in honour of Prince Alfred, Queen Victoria's son.
Location
Port Alfred is located between 2 cities, Port Elizabeth and East London, on the breath-taking Sunshine Coast of the Eastern Cape. The distance from Port...
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Please note: Most banks charge an administration and initiation fee. Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.
