Expiry: 
02/24/2016 - 12:00

Silent Auction by Tender. Tenders close Wednesday 24 February at 12H00. Hotel with restaurant, bar, shops and offices as well as 6000sqm of prime land for future development or expansion of the hotel. Built in 1904 - a trusted meeting place for local residents for over 100 years.

Buildings and Improvements 

  • Hotel (1037m2) 
  • Pub, shops & offices (545m2) 
  • Covered areas (164m2) 
  • Outbuildings (111m2) 

Hotel 

  • Hotel with restaurant and commercial units

Ground floor comprises 

  • Reception and entrance hall 
  • Five bedrooms with en suite bathrooms 
  • Ancillary service rooms and ablutions 
  • Restaurant and bar 
  • Front terrace use by restaurant and bar patrons 

Top floor accommodation comprises 

  • Five bedrooms 
  • four with en suite bathrooms 
  • service areas and ablutions 
  • lounge with enclosed stoep 
  • Lower ground floor comprises 
  • Three retail outlets and an office 

 

RESTRICTIVE CONDITIONS/ SERVITUDES 
None 

LEASE DETAILS 

Nett revenue on existing leases amounts to R1 200 000 per annum
All leases are on a three-month notice period basis - details will be provided to serious investors 

ADDITIONAL INFORMATION 
Apart from the ground on which the hotel stands there is a further 6000m2 of prime land for future development or expansion of the hotel 
Access to the property from north-eastern side is off Glen Road and on the north side from Gardrum Steps (access road) 
Built in 1904 - a trusted meeting place for local residents for over 100 years 
Currently the condition of the buildings is below average and requires maintenance 
The owners have approval for rezoning and subdivision of the property, details of which can be supplied 

SITE LOCATION 

42km from Cape Town CBD, set amidst single residential dwellings of a medium to low density 
Situated on the north-east facing slope of the Glencairn mountain with views over False Bay, 
Glencairn wetland and Glencairn Heights, Enjoy great sea and mountain views

Contact Faeqah Corker for more information - 073 229 4869

Click here to view on Property24

Category: 
Property
Created
Sun, 02/21/2016 - 13:19

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