Item Status

Sold for R88,000,000

Summerstrand Hotel Port Elizabeth

Sold for R88,000,000

SALE IN EXECUTION – SUMMERSTRAND HOTEL – PORT ELIZABETH

Golden Mile Of Port Elizabeth
The Hotel Comprises
4 Storey Building With Basement

The Hotel Is A Typical Holiday Inn Design And Offers The Following:-

Hotel Accommodation
Office Facilities
Reception Area
Courtyard Area
Garden With Pool
Bar
Barbeque Area
The Hotel Consists Of 4 Wings
East Wing
Main Access
Reception Area
Administration Offices
Bar
Two Storerooms
Main Conference Room
Ablutions
Kitchen With Cold And Chiller Rooms
Dry Food Stores
Dining Room With Air-conditioning
Buffet Area
Pool Lounge
Staff Ablutions
3 Conference Rooms
South Wing 4 Floors
Ground Floor
Directors Offices
11 Accommodation Units
Housekeeping Laundry Section
2nd Floor
Suite – Lounge, Bathroom, Bedroom, Dressing Room And Bathroom
30 Accommodation Units
3rd And 4th Floors
116 Accommodation Units
West Wing 2 Floors
2nd Floor
11 Hotel Accommodation Units
2 Rooms Used As Offices
4 Student Rooms
9 Storerooms
Student Kitchen
Restaurant
Student Lounges
1st Floor
17 Rooms
6 Student Rooms
Rest Areas
North Wing 3 Storey
Basement
15 Garages
Basement Rooms
Ground Floor
3 Offices
3 Meeting Rooms
Ablutions Rooms
A Banqueting Store
2 Staff Bedrooms
16 Student Rooms.
1st Floor
30 Student Rooms
Link Block 2 Storey
Housekeeping Offices On The Ground Floor With Linking Passage And Stores On The 1st Floor
Pool Area
Gunite Pool
Pool Bar And Barbeque Structure
The Area Of The Buildings Comprising The Hotel Is 11,782 Square Meters
Building 2
Workshop
Store
Boiler Room
General
Large Tar Parking Area
Paved Walkways
Vacant Land Is Fenced
Undeveloped Land

The improvements on the property are situated in the south-eastern corner of the property leaving an area of approximately 2.2 hectares available for further development.

IMPORTANT INFORMATION FOR ALL PURCHASERS
The sale is subject to the written confirmation of the execution creditor, given to the Sheriff within seven days after the date of the sale
Auction Reserve Price: R20 million
The Conditions of Sale or the Rules of the auction will be read prior to the sale and may be inspected at the Sheriffs abovementioned office
Queries may be directed to the offices of the Plaintiffs Attorneys
Telephone 041 506 3700
Reference Wilma Dye

Terms: a deposit of 10% of the purchase price together with the Sheriffs commission calculated at 6% of the purchase price up to R100,000.00, and thereafter 3,5% on the next R300,000.00 and 1,5% on the balance of the purchase price together with VAT, up to a maximum of R40,000.00 plus VAT, are payable on the date of the sale, with the balance of the purchase price being payable against transfer of the property, such payment of such balance to be secured by an appropriate bank guarantee to be approved by the Plaintiffs Attorneys and to be furnished within fourteen (14) days of the date of the sale.
Additional costs for the Purchasers account are to be confirmed

Item Specs

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Location
63 Victoria Street Somerset West
Email
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Tues:8:304:30
Wed:8:304:30
Thu:8:304:30
Fri:8:304:30
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Sun:Closed 
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