A Versatile Commercial Investment in a Prime Position
Located in a prominent, high-traffic position immediately alongside Build It in Port Alfred, this well-presented commercial property offers an outstanding opportunity for investors, entrepreneurs and experienced hospitality operators.
The property currently accommodates the beautifully renovated La Familia Restaurant, providing a ready-to-operate restaurant environment while offering plenty of scope for expansion and further development.
With its substantial land size and flexible commercial zoning, the property could also lend itself to additional retail, office, hospitality or multi-tenant uses, subject to the relevant approvals.
Stylish, Ready-to-Use Restaurant
The approximately 200 sqm building has been extensively upgraded and presents a clean, modern and inviting environment.
The existing restaurant comfortably seats around 80 guests, with potential to increase capacity.
Features include:
Reception and welcoming entrance area
Fully fitted bar
Newly renovated guest bathrooms
New tables and chairs
Functional commercial kitchen
Built-in extraction system
A bespoke pizza oven currently being installed
Beautiful Outdoor Setting
The property extends across an impressive 1,107 sqm, providing an exceptional combination of established landscaping and future development potential.
The outdoor areas feature:
Beautifully landscaped gardens
Rock fountains and water features
A peaceful Koi pond
Two covered outdoor entertainment and dining areas
A sizeable undeveloped portion of the property offering numerous possibilities
The additional space could potentially be developed into a children's play area, larger entertainment section, expanded bar, additional restaurant facilities or separate commercial premises.
Upgraded Infrastructure
Considerable attention has been given to the property's infrastructure to support reliable day-to-day operations.
Notable improvements include:
Backup water storage tanks connected to a filtration system
Full electrical rewiring
Updated electrical Certificates of Compliance
Durable aluminium windows throughout the building
Although the property is ideally equipped for continued restaurant use, its commercial zoning, generous erf and strategic location provide flexibility for alternative business concepts.
Depending on municipal approvals and the intended use, the property could potentially be transformed into retail premises, professional offices, a collection of smaller businesses or a mixed-use commercial destination.
Existing On- & Off-Consumption Liquor Licence
Adding significant value to the offering is an active Eastern Cape liquor licence covering both on- and off-consumption.
For a restaurant operator, this means the bar can operate under an existing licence rather than requiring a new application. The off-consumption component also creates an opportunity to introduce an additional retail offering, such as a speciality wine outlet.
The existing licence could save a new owner considerable time and expense associated with starting the licensing process from scratch.
VAT & Going-Concern Considerations
The seller is VAT registered, which means the transaction is not subject to Transfer Duty.
Where the purchaser is also VAT registered and the property, together with the relevant operational assets, is acquired as an income-generating business, the transaction may potentially qualify as a zero-rated going concern for VAT purposes, subject to the applicable requirements and professional advice.
This structure can provide a significant cash-flow benefit by reducing the amount of capital required upfront.
With its prominent Port Alfred location, established restaurant infrastructure, extensive upgrades, liquor licence, generous land component and multiple development possibilities, this property offers far more than a conventional restaurant premises.
Contact Karen today to arrange a private viewing and discover the potential this exceptional property has to offer.