Sector - Property
Well located houses / residential complexes and properties with high incomeGive me more information
How does the business operate on a daily basis?
a Central property office is responsible for all management aspects .
Responsibilities include :
Advertising and marketing / rental contracts / accounting / utility readings and billing / legal issues / inspections / maintenance
Certain services are out sourced
Tenants are vetted by TPN Credit Bureau before hand
What Advertising/Marketing is carried out?
Mostly via on-line advertising and local media
How could the profitability of the business be improved?
The Seller had no increases on his rental contracts during the previous 4 years
He will implement a first new increase of 7% on 1st of June 2019
This will immediately contribute to an increase of profitability for 2019/20
A function hall at one of the developments was renovated in the 2018/19 financial year at a cost of 1.2 Million
This will contribute to profitability in 2019/20
A new contract was signed at R30k /m for a 100 bed residential Lodge
This property was vacant for a season and will also contribute to profitability in 2019/20
The 513Ha farmland was also recently leased out at R80k / year
Note that neither the increases nor the additional contracts were included in the financial calculations yet
What are the main assets of the business?
Well maintained middle class residential houses ( 83 ) - free standing and in various complexes
The complexes are well located and expertly build to high standards because the owner never intend selling these houses originally
Self managed residential village ( 144 )( small town ) with an Lodge and pub
80 serviceable residential stands within an enclosed development
470ha vacant land bordering the 144 development
All maintenance equipment / tractors / slashers / honey sucker truck / extra geysers / extra stoves etc. stored in containers will also be included .
Good quality properties with a high occupancy rate
Effective management office with direct marketing without any commission , full administration and in-house maintenance teams
"" All inclusive business unit ""
Poor service delivery by municipalities
Increased income when rental rates are adjusted upwards
Further development of the residential village
There will be very limited transfer costs involved with the sale of shares in the 3 CCs
What is the reason for the sale?
The seller's personal health condition is the sole reason for the sale
The fact that there are virtually no outstanding liabilities on this portfolio - together with the fact that it will be a sale of shares - can ensure an easy transaction
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