Fully describe the business's activities?
The business started as a restaurant and expanded into offering Bed & Breakfast facilities
How long has the business been established?
Approximately 26 years
How long has the owner had the business?
Fully describe this property and its income earning activities.
This property is situated in Pinetown and consists of two adjoining properties that have been consolidated into one property.
There is currently a restaurant situated on the property which has been operating for many years but is in need of upgrading.
The property is also used as a bed and breakfast establishment and consists of the following accommodation: 12 x double rooms; a cottage with one bedroom, lounge and bathroom; another cottage with one bedroom, bathroom, walk-in closet and lounge; a three bedroom house.
The B & B charges a rate of between R550 and R750 per night and occupancy ranges from 50% to 75%. The majority of guests are company employees who are in the area for work purposes.
The restaurant has been in operation for many years and is still trading profitably although it could be doing much better with an upgrade and some advertising/marketing.
What is the approximate age of the buildings?
There are various buildings that have been built on this property so the ages are different
What is the zoning of the property and what can be developed thereon?
The property is zoned General Residential 3 and consists of two adjoining properties that have recently been consolidated into one property. There is currently a restaurant situated on the property which has been operating for many years.
The property is also used as a bed and breakfast and consists of the following units: 12 x double rooms; a cottage with one bedroom, lounge and bathroom; another cottage with one bedroom, bathroom, walk-in closet and lounge; a three bedroom house.
There is no density control applicable to restrict the number of residential units if the property were to be redeveloped, but at an average of 75m2 per unit the property could potentially yield about 18 residential units. At an average unit size of 55m2 the yield would be about 24 units.
General Residential Zone 3 includes the following primary uses: Boarding House, Hotel, Multiple Unit Development, Retirement Centre. It also allows for (by special consent): Base Telecommunications Transmission Station, Chalet Development, Creche, Health Studio, Laundry, Mobile Park Home & Camping Ground, Restaurant/Fast Food Outlet, Shop.
Are there building plans available?
What is the erf size and the size of the buildings?
The consolidated lot measures 5 514m2 but there is a 20 meter wide road servitude which reduces the net development area of the consolidated lot to approximately 4 454m2. The permitted FAR of General Residential Zone 3 is 0.3 so the maximum permitted floor area would be 1 336m2.
Is a property valuation available?
No valuation is available because the current owner is expecting the property to be redeveloped by the next owner.