By Adrienne Carlisle
Luxurious private game reserve Kwandwe is not for sale – nor is any part of it, despite it featuring as the centrefold in the glossy Autumn Pam Golding Properties “Prestige Property Collection”.
Kwandwe managing director Angus Sholto-Douglas yesterday told the Dispatch that due to “global economic pressure” on investors, it had been decided to sell off 7000ha of the 20000ha reserve but the financial situation improved and the sale was not going ahead.
The 7000ha on the northern bank of the Great Fish River, which consisted of “deep wooded valleys, bush clump savannah and wide plains”, had been advertised at R84million.
Sholto-Douglas said that there were, however, enormous financial pressures on private game reserves that had to be resolved or their viability would be affected.
One issue of particular concern is that of rates. Municipalities value game reserves six times higher than normal agricultural land, said Sholto-Douglas.
“But the services we receive are the same. This is definitely going to influence the viability of game reserves going forward.”
He said the slow world economic recovery was also hurting the industry and the Soccer World Cup had not realised occupancy rates they had hoped for.
He said greedy operators who had block-booked airplane seats and hotels had also worsened the situation. Many of these block bookings had not been realised and even though many of them had subsequently been released, there was not much time left to fill them
Sholto-Douglas said prominent Eastern Cape game reserves had agreed they would not increase their rates during the World Cup but bookings had still been slow.
Kwandwe was one of the “more fortunate reserves” with 60 percent occupancy over the tournament.
Source: Daily Dispatch
Publisher: I-Net Bridge
Source: I-Net Bridge
