5 Duke of Cornwall Dr. Markham ON [email protected]
Karoo farm for sale

Olive Grove Guest Farm (Image supplied)

  • Olive Grove Guest Farm, a 5,170-hectare property about 21 kilometres outside Beaufort West, is heading to auction.
  • The income-generating farm features a 13-hectare olive grove which is due to produce 30 tons of olives at harvest in May.
  • It also includes the 3-star rated Olive Grove Guest Lodge, which has made more than R5 million over the past three years.
  • For more stories go to www.BusinessInsider.co.za.

A 5,170-hectare farm in the Karoo is heading to auction in March. The sale includes an expansive olive grove, due to be harvested in May, a 3-star guest lodge, self-catering chalets, game, and solar farm development.

Located 21 kilometres outside Beaufort West along the N12 highway lies Lombaardskraal Farm. A 13-hectare olive grove makes the property an oasis among the arid Karoo landscape. A 23-hectare dam and four boreholes support flora and fauna. Blue Wildebeest, Zebra, Gemsbok, Blesbok, and Springbuck roam the property.

Karoo farm for sale

Olive Grove Guest Farm (Image supplied)

All this, and more, head to auction as a going concern on 9 March. Only the furniture in the four-bedroom main residence on the property will be excluded from the sale.

The auction, facilitated by the High Street Auction Company, will see Olive Grove Guest Farm – a portion of Lombaardskraal – go under the hammer.

Karoo farm for sale

Olive Grove Guest Farm (Image supplied)

The property, listed as an income-generating farm, has two significant revenue streams: hospitality and olives.

Karoo farm for sale

Olive Grove Guest Farm (Image supplied)

All olives on the property are harvested, manufactured, bottled, labelled, and sold from Olive Grove Guest Lodge. The upcoming harvest in May, included in the sale, is expected to produce around 30 tons of olives. This, in turn, equates to around 4,000 litres of olive oil. A 500ml bottle of olive oil produced on the farm sells for around R90.

Karoo farm for sale

Olive Grove Guest Farm (Image supplied)

“The staff working for Olive Grove Farm know how to process the harvest, and use the on-site manufacturing facility to produce, bottle, and label all products,” notes the High Street Auction Company.

Karoo farm for sale

Olive Grove Guest Farm (Image supplied)

The 3-star rated Olive Grove Guest Lodge has operated for around 20 years. It offers six rooms with en suite bathrooms and seven self-catering chalets, each with two bedrooms, a bathroom, lounge, and kitchen.

Karoo farm for sale

Olive Grove Guest Farm (Image supplied)

The farm also features several campsites, a licensed restaurant, helicopter landing area, guest pool, and a wedding venue that can accommodate up to 200 people.

Karoo farm for sale

Olive Grove Guest Farm (Image supplied)

  

The guest lodge recorded revenue of R2.3 million in 2019, before the pandemic hit and halted leisure travel in its tracks. Over the past two years, it’s made over R3 million.

“The subject property lends itself to various possible uses including olive, sheep, and game farming, hospitality, as well as the capacity of future expansion for farming and other income-generating enterprises – one of which is the option of a solar farm,” says the auction company.

Karoo farm for sale

Olive Grove Guest Farm (Image supplied)

An option agreement with Mulilo Renewable Project Development allows for the exclusive developing rights of a solar farm, valid until 31 December 2029. The 75MW solar farm will occupy 1,200 hectares, split between four farms of 300ha each. This is dependent on the success of the environmental impact assessment studies.

“Should the option be exercised, the new owner will receive a monthly revenue from Mulilo based on the output of the solar project development.”

(Compiled by Luke Daniel)

Get the best of our site emailed to you every weekday.

Go to the Business Insider front page for more stories.

© 2022 All Rights Reserved. Event Wedding Directory - Ahlimosa Décor.