The opportunity to own a 50 percent share in a magnificent piece of African bush – linked to a highly successful luxury game lodge – and all in a sprawling, well-established, private Big Five game reserve, certainly doesn’t come about very often.
Especially when it’s located within the increasingly popular, malaria-free Eastern Cape region’s spectacular Kariega Game Reserve. Family-owned since 1989, it operates as an eco-tourism, photographic safari destination, encompassing both the Kariega and Bushman’s Rivers.
“As a silent partner, the investor also acquires 50 percent ownership of an exclusive 5-Star luxury tented lodge, Settler’s Drift, which is arguably renowned as the top game lodge in the region, and yields a sizeable annual income stream.” | Gregg Rippon, Pam Golding Properties Eastern Cape farm specialist
The Eastern Cape is reaping the benefits of massive global growth in the wildlife recreation and eco-tourism industry, being seen as an affordable and easily accessible option for the international market, many of whom are drawn first of all to the Mother City of Cape Town and then travel up through the scenic Garden Route, with a world-class Big Five destination such as Kariega in easy reach. This area enjoys good rainfall and Kariega has a high carrying capacity and lush river foliage which translates into a unique bush experience offering a grand entrance by boat – or by road.
Rippon explains that for the sum of R60 million, the buyer acquires firstly a 50 percent share in the 3 200ha farm, Harvestvale, an exceptionally beautiful property comprising one of several large tranches within the 10 000ha Kariega Game Reserve. Harvestvale has 18.6km of Bushman’s River frontage, 11 of which are along the estuary and navigable right through to the Indian Ocean. In addition to the land, the shareholding includes 50% ownership of the lodge, staff village and all other fixed assets on the property, including the general game on the property and any income derived from game sales.
“Over and above this the owner has traversing rights over the entire Kariega Game Reserve, as well as 100 percent ownership of one of the sub-divisions of Harvestvale, situated along the Bushman’s River and consisting of some 660ha in extent, with two existing luxury safari tents built for private use and the right to build a private homestead.”
Kariega Game Reserve maintains and operates the game and property, including the 1 200sqm central lodge with its nine privately placed tents of 104sqm each, which means that the new acquisition is hassle-free. Notably there is no cost to the shareholder for the management and maintenance of the lodge, including all capital improvements to the lodge and the staff village, nor for the maintenance and improvement of the roads, fencing and other improvements; the staffing, marketing, booking and other support infrastructure for the lodge and farm; or game management.
They have built and retained ownership of the two luxury tented units outside of the overall operating arrangement, providing for renting out for a maximum of 45 days a year with the balance for private use. Incorporating several hectares, the area on which a new homestead dwelling can be built is game fenced and landscaped.
The uniqueness and sheer beauty of this reserve cannot be overstated. From an eco-tourism aspect it is totally pristine. The 5 Star Settler’s Drift lodge runs at high summer occupancy levels with the winter season at lower levels and provides sound rental returns.
Like what you see? See the listing here. Contact Gregg Rippon of Pam Golding Properties.
