AUCT-002243 | On Auction

Investment Opportunity Currently Utilised As Student Accommodation

± 1.2 km Off the R102 Main Road, Ex Felixton Hotel & Conference Facility, Felixton, Empangeni, King Cetshwayo District Municipality, KwaZulu-Natal

Investment Opportunity Currently Utilised As Student Accommodation. ± 1.2 km Off the R102 Main Road, Ex Felixton Hotel and Conference Facility, Felixton, Empangeni

Site Extent: ± 9.2765 Ha | GBA: ± 7 195 m² | Currently 208 Students – NSFAS & Student Lease in place | Current Months Income: ± R731K | Potential Fully Occupied: ± R756K per month | Workshops, Agricultural land with sugar cane and litchi, Student residences (over 128 rooms), TV rooms, Kitchens, Study rooms, pool, staff facilities and accommodation | Positioned +/- 12km from the University of Zululand | Ample land for further development


This property with a site extent of over 9,2 Hectares was previously known as the popular Felixton Hotel and Conference Centre located just outside Empangeni. This renovated hotel has now been designed for student accommodation, which has been approved by NSFAS to accommodate 215 students amongst 128 rooms. It is strategically located within a short driving distance from the Felixton College, Mangosuthu University of Technology and from the University of Zululand. Student accommodation has been redefined by blending the sophistication of a hotel with the vibrant communal atmosphere of student life.

The accommodation blocks comprise of rooms that currently sleep 1, 2 and 3 students, dispersed amongst various single storey improvements. Majority of the rooms share communal bathrooms and toilets. Rooms are fitted with beds, cupboards, chairs, desks and some with air-conditioners. The property has been accredited and graded by National Student Financial Aid Scheme (NSFAS). There are fire extinguishers, fire hoses and CCTV cameras in place.

The accommodation is configured as is 119 rooms and 9 staff rooms.

Apart from the various accommodation blocks positioned on the property, the property features a pool, TV rooms, dining areas, entertainment rooms, catering kitchens, staff facilities and ample parking and further development land.

The property also comprises of 2 workshops, cold storage facilities, general storage areas and mezzanine offices.

Off the total site extent of 9,2765 Hectares, the property includes just over ± 3,5 hectares of Litchie farming.
The property has endless potential, to be used as student accommodation as currently utilized or as a retirement village or multiple residential conversions however all necessary approvals and consents must be obtained from the Municipality.

It should be noted that all movable assets within the property to continue with the Student Accommodation, the JOJO tanks with pressure and borehole pumps will form part of the sale.

All other movable assets within the property are specifically excluded from the sale which includes the CCTV cameras and Generator.

It should be noted the property is not subject to any land claims.

The town of Felixton is positioned ± 5 km south of Kuleka, Empangeni. Known for its verdant golf course, Tongaat Hullett Sugar Mill and the Felixton College, Felixton offers a picturesque blend of natural beauty and tranquil living, surrounded by lush sugar cane fields.

The property, previously known as the charming Felixton Hotel and Conference Centre is positioned approximately 1.2 km off the R102 Main Road, however there is an alternate entrance which is approximately 800m off the R102 Main Road.

The Lafarge Empangeni Quarry is positioned a short drive away from the property. Renowned tertiary institutions like the University of Zululand and Mangosuthu University of Technology positions Felixton as a strategic location.

The N2 Freeway which runs close to Felixton, provides a direct route to major cities such as Durban and Richards Bay.

All modern day amenities can be found within Empangeni and Richards Bay which is a short driving distance away.

Commercial Type:
Commercial Building
Web Reference:
AUCT-002243
List price:
POA
Address:
± 1.2 km Off the R102 Main Road, Ex Felixton Hotel & Conference Facility, Felixton, Empangeni, King Cetshwayo District Municipality, KwaZulu-Natal
Auction Venue:
Mount Edgecombe Country Club

Auction Date:
23 July 2024 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50,000.00 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

Bidding opens in


Auction Date: 23 July 2024 11:00:00am


Virend Deonarain
                                                         In2assets Representative

Property Agent


Virend Deonarain
Show number
vdeonarain@in2assets.com


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