Crayfish INN

Presenting an exceptional investment opportunity, this iconic property is now available for sale, with an original asking price of R3,200,000.
What's on offer?

The esteemed "CRAYFISH INN" Restaurant Business
Seller: BLU CHU CC (Registration #2011/021338/23)
The PREMISES
Seller: DECAPODA PALACE CC (Registration #2011/033089/23)
The restaurant premises (505 sq.m.) encompass:
SECTION #09: Storeroom (10 sq.m.)
SECTION #10: Storeroom & Bathroom (20 sq.m.)
SECTION #11: Indoor Dining & Kitchen (184 sq.m.)
SECTION #12: Office (12 sq.m.)
Exclusive Use Area RA11: Scullery Fridge/Freezer/Store (59 sq.m.)
Exclusive Use Area RD11: Outdoor Garden Dining under Tent (204 sq.m.)
Exclusive Use Area SR11: Store (16 sq.m.)
Seven (7) allocated open parking bays on-site

Immerse yourself in the enchanting seaside village of Ramsgate, where this landmark property awaits. Boasting a rich history dating back to the early 1940s, the renowned Crayfish Inn Restaurant has become synonymous with superb seafood, attentive service, and a laid-back ambiance. Ideally situated just 100 meters from the pristine Blue Flag Ramsgate beach, this lovely restaurant captivates both casual diners seeking a relaxed experience in the charming tented garden area and those looking for a formal fine dining setting within the original Crayfish Inn building.

Completing the allure of this property is its convenient on-site parking and the inclusion of the restaurant property in the selling price. Sports enthusiasts can catch their favourite games on the DSTV Sports channels while savouring a drink in the fully licensed restaurant. Special events and occasions, regardless of size, are skill-fully catered for by arrangement, ensuring unforgettable experiences for guests. Additionally, businessmen passing by will appreciate the availability of Wi-Fi facilities.

Furthermore, the property has been sectioned into various blocks. Block "A" consists of eight residential apartments, while Block "X" is currently and historically occupied by the Crayfish Inn Restaurant. Blocks "B," "C," and "D" offer potential for future development, providing prospects for expansion and diversification.

The Crayfish Inn Restaurant, steeped in tradition and success, presents a legendary culinary establishment on the South Coast of KwaZulu-Natal. Operating since 1944, this renowned eatery has proudly served the community and delighted holidaymakers with the finest seafood and steaks. From 2011 to 2020, the seller skill-fully managed the business, yielding profitable results (refer to turnover figures provided). However, since 2021, a tenant has occupied the premises in breach of the lease agreement. A dispute exists with the local authority regarding incorrect land zoning, although Special Consent has been obtained to continue operating the restaurant.

This unique opportunity invites a restaurateur with the right vision to resurrect the establishment's former glory. With a fully ...

Property Reference #: CL93

Agent Details:
Garnett Coetzee
Real and Proper T
No 1 Bank Street (Corner Bank Street and Marine Drive)
Margate
KwaZulu Natal