Residential Redevelopment, 44 & 50 Park Road, Port Alfred
Extent: ± 2 057 m² | Month to month tenancies
This well-located property forms part of a cluster of properties in the direct neighbourhood, which are been sold on the same auction jointly and individually. Combined with the next-door hotel or used as a holiday home, this property is waiting for a modern upgrade and could potentially generate a good return if used for holiday letting. Centrally located in Port Alfred within 300 metres from Port Alfred Primary and High Schools, within one 1km from CBD and Marina, this property once upgraded, will be a great future asset.
Port Alfred is a small town with a population of just under 26,000 in the Eastern Cape province of South Africa. It is situated on the eastern seaboard of the country at the mouth of the Kowie River, almost exactly halfway between the larger cities of Port Elizabeth and East London and 30 kilometres West of Cannon Rocks. Port Alfred was established in the early 1820s by British settlers who were moved into the area by Lord Charles Somerset as a buffer between the Cape Colony and the Xhosa people. Originally it was two separate towns. Settlers arriving on the west bank in 1820 named their settlement Port Kowie, and those arriving on the east bank named theirs Port Frances. Later, in 1860, when Queen Victoria’s son Prince Alfred visited, the name was changed in his honor.
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