Development rights for 129 unsold residential stands in the Kenton Eco-Estate in the Eastern Cape are being sold by private tender due to the liquidation of one of its developers.
With 330 stands in the private and eco-friendly nature reserve community, the estate is governed by the Kenton Eco Estate Home Owners Association NPC, a separate legal entity from Kenton Eco Estate Limited, which is in liquidation.
The estate itself is solvent; it is only one portion that is in liquidation — the unsold stands which are 129 out of the total 330.
“The sale of these development rights will suit an investor looking to develop and sell within the luxury sustainability market. With 200 of these stands already sold, the popularity and reputation of Kenton Eco-Estate is already proven,” Broll Auctions and Sales CEO Norman Raad said.
The stands are between 800m² and 850m² each.
“Surrounded by pristine beaches and abundant wildlife, Kenton Eco-Estate offers residents the chance to connect with the environment while enjoying sustainable, modern living in a pristine setting that offers 2.5km of beach frontage with private access,” Raad said.
Homes are designed to maximise sustainable living by using sustainable materials, underground rainwater storage tanks promoting energy-efficient practices, and blending seamlessly into the landscape of Indigenous vegetation using natural tones and lines.
A state-of-the-art waterborne sewerage system and rainwater harvesting infrastructure ensures uninterrupted provision of critical services.
The 230-hectare eco-estate has walking, jogging and cycling paths through the bush and along the coastline, with access control and security.
“Just 12% of the entire estate will be developed to ensure a balance between nature and luxury living.
“The trend of semigration to South Africa’s once sleepy seaside towns shows no sign of slowing down, and the estate’s unique offering of security, luxury and environmental responsibility, just 25km from Port Alfred or 45km from Grahamstown, differentiates it from its competitors.”
The Kenton Eco Estate Home Owners Association NPC has agreed to a two-year levy holiday to facilitate the transaction, which falls away upon the transfer of the developed properties.
The tender closing date is January 31.
HeraldLIVE
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