Liquidation hits massive estate in South Africa

Development rights for parts of the Kenton Eco Estate in the Eastern Cape are being sold following the liquidation of one of the developers.
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.
Notably, the estate is solvent, and only one portion is undergoing liquidation.
With a total of 330 stands in the private and eco-friendly nature reserve community, the estate is governed by the Kenton Eco Estate Home Owners Association NPC.
The HOA is a separate legal entity from Kenton Eco Estate Limited, which is in liquidation.
“The sale of these development rights will suit an investor looking to develop and sell within the luxury sustainability market,” said Norman Raad, CEO of Broll Auctions and Sales.
“With 200 of these stands already sold, the popularity and reputation of Kenton Eco Estate is already proven.”
The stands are between 800 sqm and 850 sqm each.
“Surrounded by pristine beaches and abundant wildlife, Kenton Eco Estate offers residents the chance to connect with the environment,” said Raad.
Residents enjoy sustainable, modern living and access to a 2.5km beach with private access.
Homes are also designed to maximise sustainable living via the use of sustainable materials, underground rainwater storage tanks and the promotion of energy-efficient practices.
The home is also designed to blend seamlessly into the landscape of indigenous vegetation using natural tones and lines.
A state-of-the-art waterborne sewerage system and rainwater harvesting infrastructure also ensure that there is an uninterrupted provision of critical services.
The 230-hectare eco estate also has walking, jogging and cycling paths through the bush and coastline.
The estate also has access control and security.
Only 12% of the entire estate will be developed to ensure that there is a balance between nature and luxury living.
Notably, the eco estate is set to benefit from the semigration trend to South Africa’s once sleepy seaside towns, which shows no signs of slowing down.
The estate’s blend of security, luxury and environmental responsibility.
The estate is also differentiated from its competitors as it is just 25km from Port Alfred and 45km from Grahamstown, which
The Kenton Eco Estate Home Owners Association NPC has also agreed to a two-year levy holiday to facilitate the transaction.
The holiday expires when the transfer of the developed properties occurs.
The tender closing date is January 31, 2025.
South Africa is becoming an estate hotspot, with many in the country drawn to the amenities on offer.
According to Lightstone’s latest annual sentiment survey among Estate Agents, South African home buyers said that lifestyle and amenities were the most important things when buying a home
33% said that lifestyle and amenities were the most important factors in purchasing a home in 2024, far above the 23% in 2023.
This is well ahead of the second and third place in security and working from home, where both scored 19%
Popular buyers in lifestyle estates are the elderly, with many drawn to areas that promote an active lifestyle, while also ensuring the ability to scale down.