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Renwick Business Brokers
Renwick Business Brokers
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Property Investment Company

Cape Town, South Africa
R9,500,000
Operating Business

This is a unique opportunity to acquire a 100% shares in a property investment company with many benefits through a well structured sale. This is a Vat registered company that has no debts or other obligations except loan accounts of the shareholders. The company owns the following immovable properties including 2 combined apartments, household contents and art, a 4×4 (older model), garage and 3 parking bays and a store room. The business has very little activity but offers an excellent benefit in terms of a deductible transferable loss and tax benefit of around R4 200 000. The company has loan accounts of R17 000 000 from shareholders which will be transferred and thereby enabling the new shareholders to withdraw up to R6 000 000 tax-free and R11 000 000 at a lower tax rate. The transaction will also provide a further advantage in relation to Capital Gain Tax subject to a lower rate than income tax and can therefore provide an extra tax saving in future. The sale of the company includes the property which is not subject to transfer duties and therefore provide even further saving for the right buyer. The asking price is R9 500 000 and includes the company shares of the Pty (Ltd), the immovable properties, Vat and TD savings, tax profit benefits and an additional tax benefit. This is a once in a life time opportunity that does not come along very often. The buyer can purchase the business, live in or rent out the properties, operate the business and benefit realize the tax benefits over time, after which the true acquisition value is less than R4 000 000.

The properties are located in a secured Golf and Beach estate with many facilities including a golf course, clubhouse, swimming pools, tennis courts and other entertainment areas. The properties have excellent views of Gordons Bay, Cape Peninsula, False Bay and Strand beach. Both apartments have been fully renovated to the highest standards and have been combined to create one large apartment with five balcony’s and outdoor living areas, however they can be easily be divided back into two separate apartments. The property offers 4 bedrooms and 1 study, 3 bathrooms, 2 lounges, an open-plan kitchen with granite tops, laundry room. The property also has a jacuzzi and steam room.

Listing Type : Property Portfolio
Location : Cape Town
Ref. No : 2819
Net Profit : TBD
Renwick Business Brokers
Renwick Business Brokers
0 out of 5
Total Sales: 0 Total Listing: 69