Elizabeth Gardens
Business Name:
Elizabeth Gardens
Short Description:
Elizabeth Gardens comprises 69 cottages. 31 were built in the late 70s and early 80s, and consist of 20 one-bedroom (A) and 11 two-bedroom units (B), although the Old and New cottages are roughly the same size, 65m² for a two-bedroom unit and 57m² for a one-bedroom unit.
More Information:
The new cottages have a larger lounge and kitchen but this is offset by an additional room in the older cottages. Of the 38 remaining cottages 2 are one bedroom (65m²) (C) and the remainder are all 2 bedroom ( 92m²) (D) in size.
Endowment Charges
HADCA’s cottages are sold on the “life rights” basis. Cottage residents pay an endowment, which entitles them to occupy their cottage for life.
When a resident leaves their cottage and it becomes available for re-endowment, the outgoing resident is repaid according to the following calculation:-
80% of the re-endowment price, less a refurbishming cost of 0.5% per annum based on the number of years occupied, up to a maximum of 10%.
Province:
Kwazulu Natal
