Sector - Accommodation
Prime property situated in Windhoek's most pristine area, selling under valuation. The business is established, profitable and offers self-catering accommodation to corporate clients with an occupancy of between 80 to 90%.Give me more information
Fully describe the business's activities?
Prime property situated in Windhoek's most pristine area, selling with established profitable business. The property consists of one large three bedroom house of 346m2 and one outbuilding with self catering units measuring 877m2. In between the main thatched roof dwelling and the self catering units is a roof structure used as a entertainment area for guests, with a heated swimming pool. The large, spacious main dwelling previously accommodated by the owners, can easily be converted into an eating area with additional accommodation, which will more than double the revenue this business is currently making. The self catering units comprise of a three story structure which accommodates two two bedroom apartments and six one bedroom apartments. Each two bedroom apartment comprises of an entrance hall, lounge, kitchen, two bedrooms, and one bathroom with an exclusive balcony area. The one bedroom apartments each have an entrance hall, lounge, kitchen, one bedroom, one bathroom with an exclusive balcony area. The business is established, profitable and has an occupancy of between 80 to 90%. The majority of this business's clients are corporate clients which makes the business less seasonal and more consistent in its occupancy.
How does the business operate on a daily basis?
The business receives bookings and these are allocated to the appropriate rooms by the owner. Staff attend to their house keeping duties and a bookkeeper runs the day to day accounting. The owner manages all staff duties.
What Advertising/Marketing is carried out?
This business uses Google Business and has a website. It regularly advertises in a printed supplement which is distributed locally in the business market, NGOs and Embassies which are currently the business's main clientele. It also features in a local city premier map, which is distributed through a Namibian brochure company and displayed in stands at most hotels and accommodation establishments. This business is listed on several third party websites of which none require commissions.
What competition exists?
There are other self catering apartments in the area, however none with the spectacular views and space such as this accommodation. The other competitors each have their own followings.
How could the profitability of the business be improved?
The large spacious main dwelling previously accommodated by the owners, can be easily converted into an eating area with additional accommodation, which will more than double the revenue this business is currently making.
Give a breakdown of staff/ functions/ length of service?
There are three cleaners and one gardener. All staff have been with the owner for over 2 years.
Do any have management potential?
No, there are currently no employed staff that have management potential.
How involved is the Owner in running the business?
The owner is involved daily with the running of the business as she does not have a manager in place.
What are the trading hours?
The trading hours of this business is Monday to Sunday from 07h00 to 17h00.
What are the main assets of the business?
The main assets of this business is the property.
We also feel it is quite a unique property with some history attached. Just for interest sake, the apartments were built by Hans Berker, around 1970, after whom the street was named. You may not have heard of him, but if you google him he has quite an interesting history.
A most spacious stay and a unique property situated in Windhoek's most prime area. Exquisite views from all eight of the private units balconies and main dwelling. Immaculately maintained self catering units built in 1970 with some history attached. Established and well renowned for its comfort and hospitality. This comfortable stay is perfect for corporate accommodation, families and single travellers.
The financials for 2019 show a three month decline in revenue, being the first time this has happened in 12 years. On a more positive note: the four months after the decline show a occupancy of 90% and the forecast for the year anticipates a monthly profit of around N$ 60,000.00
The financials for 2019 show a three month decline in revenue, being the first time this has happened in 12 years. On a more positive note: the four months after the decline show a occupancy of 90% and the forecast for the year anticipates high profits.
The large, spacious house previously accommodated by the owners, can be easily converted into a large eating area with additional accommodation, which can more than double the revenue this business is currently making..
What is the reason for the sale?
The owners have moved to a retirement village and would like to retire without the burden of running a business.
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