The ECDC’s rental investment property portfolio consists of 1,742 lettable units spread across the Eastern Cape.
The portfolio cuts across commercial, industrial and residential property units, as well as various parcels of vacant land in Mthatha, Butterworth, Komani and Buffalo City.
Of the 1,742 lettable units, 460 are flat units from 66 blocks of flats, 526 industrial, 180 commercial, 132 retail, 6 leisure, and 160 standalone houses.
The leisure portfolio comprises of Wavecrest Hotel, Ocean View Hotel, Kob Inn Hotel, Mazeppa Bay Hotel and Coffee Bay Hotel for which the corporation is looking for a triple net lease tenant.
The portfolio generally needs improvements to attract private sector investments to boost job creation, economic growth and development.
The portfolio also includes 238 small enterprise units established largely by the former Transkei and Ciskei governments and inherited by the ECDC at their disestablishment.
These properties require overhaul improvements to avail better facilities to SMME’s.