Usage rights in a property situated in a private wildlife reserve with open borders to the Kruger National Park. The shareblock concept is not well known outside of South Africa and easily confused with “timeshare”.
In reality it is the ownership of shares within a holding company (shareblock company) which owns and manages the reserve. As a purchaser you acquire shares within this company which entitles you to exclusive usage rights of a specific house/unit located within the reserve. The main difference between shareblock ownership and timeshare ownership is that with timeshare you are restricted to a set time when you can use the property. However, in share block ownership you are not restricted to a time and can utilize the property as and when you want to.
In the case of Olifants North, a maximum of 6 users are allocated to a unit. One could therefore purchase an entire unit, or a shareholding within the unit i.e. 2/6 shares.
When purchasing within a shareblock company, the purchaser should familiarize himself/herself with the following important documents:
- Memorandum of Incorporation
- User Agreement.
Should you have any questions with regards to share blockownership, please liaise with our property sales advisors who will be happy toassist you.
View the video to one of our properties currently available in Olifants North Game Reserve!