Monthly Bond Repayment R51,536.28
Calculated over 20 years at 10.25% with no deposit. Change Assumptions

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Monthly Rates

Biggest smallholding with sea views in the centre of Pringle Bay - Investors dream!

Comprising 496 (15932 sq m), 1761 (approx 1600 sq m) and 1762 (approx 200 sq m).
Total 1.732 HA
There is a ridge in a north-south direction across the middle of the property, from which one gets spectacular unobstructed sea views. The mountain views from the east side of the property are also very beautiful. To the west of the ridge, the land drops off quite a bit, making the ridge the best part of the property. It is 300 meters from the main swimming beach.

Currently zoned indeterminate (was previously zoned hotel)
The following are based on what the council has indicated it would agree to

1. Single residential plot. Obviously the biggest and best in town – your own smallholding in the middle of town.
2. Subdivision into max 10 plots. I would suggest making this 6 or 7. Taking four plots of 1500 sqm off along Buffels Road, selling these and 1761, would leave approx 10 000 sqm, to be used as one or two spectacular residential plots. The 4 plots should fetch R500 000 each and 1761 R750 000. Thus the remaining two large plots would cost about R1.5m each, allowing for subdivision costs. For 5000 sqm each !!
3. Cluster/townhouse set up. Sectional title. The Council has indicated around 14 would be approved.
4. Retirement Village. Council is keen on this idea and has suggested 30 units would be appropriate. Doing this on a life right system would result in an ongoing business being established as well, which could be operated or sold off as well. A further possibility is to offer no levies in exchange for reducing equity. This would be a good selling point – all accommodation costs paid until you die! A further consideration is that, while the idea has a lot of local interest, the clientele for such developments come from all over. To add a clinic which would be ideally sited on 1761, would receive huge local support. This could serve the retirement village as well
as the local community. There is the potential to add other services as well along the way - restaurant perhaps, transport to shops, hairdressing etc.
5. Guest House – with partial subdivision or on the whole property.
Other possibilities
6. Restaurant plus two manager's houses
7. Build 5 or 6 houses in a complex for Airbnb rental (with communal facilities like pool, sauna.

Phone for appointment.

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Transfer Costs

Natural Persons Legal Persons
Transfer Fees
Deeds Office Levy
Transfer Duty
Postage and Petties:
Rates/Levy Clearance
Pro-Rata Rates/Levies
Deeds Office Search
Electronic Document Preparation
Vat @ 15%
Please note: Most banks charge an administration and initiation fee.
Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.

Bond Costs

  Natural Persons
Deeds Office Levy
Postage and Petties
Bank Electronic Connection Fee
Electronic Document Preparation
Vat 15%


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