Certain subsidiaries of Pinnacle Point Group Ltd and specifically Pinnacle Point Resorts (Pty) Ltd have been put under provisional liquidation by the Western Cape High Court on 18 August 2011 in an application brought by Investec Bank. This need not prove detrimental to Pinnacle Point Beach and Golf Resort, located on a spectacular stretch of coastal line – Mossel Bay, Garden Route.
Pinnacle Point Resorts (Pty) Ltd own the golf course, 42 unsold stands and 6 golf villas. The rest of the Estate is comprised of private freehold, individually owned homes and erven and the provisional liquidation will not have an effect on them, save the negative publicity that will surround the estate during this period of uncertainty.
Pinnacle Point Beach and Golf Resort with its rapid ascension into the local and international media, has received numerous acclaims and awards, namely voted as one of the top 10 best new golf courses in the world and more recently one of the 10 most spectacular golf courses internationally. Manyother established golf estates that have faced similar liquidation scenarios, have turned around to become well recognised golf courses/estates.
Sales over the last 12 months exceed R24,000,000 and we are confident that Pinnacle Point will rise above the current turmoil as well as the world wide downturn phenomenon, affecting all real estate.
Pinnacle Point Home Owners Association and the Board of Directors of said Association, will continue to manage the Estate as they have been doing in the past. The clubhouse, golf and accommodation on the Estate will operate as usual – offering excellent rates on accommodation and golf.
Keen golfers, young and old, should experience the course.
Pinnacle Point Beach and Golf Resort is in an excellent position to rebrand and rebuild and are positive, with the current managerial team, of gaining independence and thereby, guaranteed success going forward.
Carl van der Linde
General Manager
Pinnacle Point Home Owners Association
Tel: (27) 44 606 5312 Fax: (27) 44 693 3200
http://www.pinnaclepointestate.co.za/
