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Hout Bay- Guest House

Hout Bay Guest House Investment Property Cape Town South Africa - Main View

Asking price 5 million ZAR.

 

Five ensuite bedroom guest house with managers apartment of two bedrooms with a bathroom. Manicured lawns, private pool area, mountain views and walking distance to local restaurant and shops.

Our French clients had a more challenging brief than most in that the  house they bought would also need to provide them with their sole source of income. In addition, their level of English at that stage required a French speaker within the business.

After a geographically very extensive search stretching from Sea Point to Simon's Town, this existing guest house, in need of renovation, offered the perfect opportunity. The number of bedrooms, large communal space and separate wing for the owners hit the brief exactly.  Space had to advise on all aspects of the process, not simply conveyancing, but more crucially would the area be right for the business they wanted to create, what legal hurdles did they need to jump, and in what capacity should they buy it to give them the best tax position to name a few.

The seller was keen to sell the existing name and brand but our clients were keen to totally revamp the property, so Space had to negotiate that the final price excluded the goodwill of the existing business giving a saving of almost 10% on the asking price and achieving a final price of 4.6 million ZAR, well under the upper limit of their budget of 6 million. Le Marais is now a top rating Bed and Breakfast on Trip Advisor.

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"We contacted Sue and Darren by internet around March 2007 realising it was necessary to have somebody in Cape Town to help us making our dream come true. Their professionalism, their excellent knowledge of the property market and of all legal aspects of running a company in South Africa , as well as Sue's perfect practice of French were essential for the achievement of our project. "

Patrice and Denis, France - Le Marais Guest House, Hout Bay.

"I didnt expect that the act of moving my wife and baby daughter from one side of world to another would end up being a pleasure rather than an ordeal and for that, all credit goes to Space. Choosing to work with them was one of the best decisions Ive made, and I wholeheartedly recommend them to anyone else considering a move to Cape Town.

Joseph, Kyra, and little Charlotte, Hout Bays newest emigrants from the USA!

 

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