SALE IN EXECUTION - SUMMERSTRAND HOTEL

Golden Mile Of Port Elizabeth

The Hotel

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

2^nd Floor

Suite - Lounge, Bathroom, Bedroom, Dressing Room And Bathroom

30  Accommodation Units 

3^rd And 4^th Floors

116  Accommodation Units

West Wing 2 Floors

2^nd Floor

11 Hotel Accommodation Units

2 Rooms Used As Offices

4 Student Rooms

9 Storerooms

Student Kitchen

Restaurant

Student Lounges

1^st 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. 

1^st Floor

30 Student Rooms

Link Block  2 Storey

Housekeeping Offices On The Ground Floor With Linking Passage And Stores On The 1^st 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