Huge interest for Bonamanzi auction

Posted On Wednesday, 15 October 2008 02:00 Published by eProp Commercial Property News
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BONAMANZI Game Reserve, which is situated in the heart of Zululand and is well know for its birding, is to be brought under the hammer by asset sales and services company, Alliance Group.

 

Property-Housing-ResidentialThis property is situated 6km from the N2 highway and borders the international tourist destination of Hluhluwe.

According to Hein Hattingh of the Alliance Group, the reserve’s three foreign owners voluntarily put Bonamanzi up for auction.

He says there is huge interest from both local and foreign investors and he is expecting the property to go for R60m-R75m. About 3500ha of the reserve will go under the hammer.

“The reserve was established about 20 years ago and is ideally situated bordering Lake St Lucia with outstanding features, such as its view over False Bay and Lake St Lucia. The reserve was proclaimed a national heritage site in 1995,” says Hattingh.

Accommodation consists of tree lodges, the famous Lalapanzi Lodge and the four-star selected VIP Dinizulu Lodge — all accommodating about 96 guests in total — and seven camp sites accommodating a further 42 guests.

The fully operational reserve and lodge, including the 100 seater restaurant and pub, as well as conference facilities, will be sold complete with all game viewing and other vehicles. This will allow for immediate income- generating opportunities.

Due to a no-hunting policy on the farm the reserve is renowned as a birders’ and game viewers’ paradise. It has about 18 species of game ranging from elephant to giraffe and nyala.

The “conservative estimation” is of 4550 head of game.

Hattingh says approval has been granted for the development of 60 sectional title stands on the banks of the Hluhluwe River bordering Lake St Lucia without any environmental effect on the game reserve itself.

“This development opportunity will unlock enormous value for the successful bidder as consent for such development in such unique proclaimed conservation areas are not easily obtainable,” says Hattingh.

The auction will take place tomorrow at the Hilton Hotel, Durban at 11am.

Source: Business Day


Publisher: I-Net Bridge
Source: I-Net Bridge

Last modified on Wednesday, 18 June 2014 15:39

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