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Please note: R21 800 000 is the starting price of auction bids, not final sale price.
An exciting investment opportunity of an upmarket boutique hotel - conveniently located in Cape Town City Bowl just steps away from Greenmarket Square. This charming, six-storey, 1930s Art Deco building houses a TGCSA 4-star property comprising of 20 rooms, a bar, restaurant, lounge & conference area.
Hotel is in close proximity to many restaurants, cafes, public transport, the Houses of Parliament, Government Avenue, Company Gardens and many historical sights and museums.
· STARTING PRICE OF AUCTION BIDS: R21,800,000.00
· Online Auction Closing: 17 March 2021 from 14:00
· Property location: 40 Burg Street, Cape Town, WC
· Viewing: Please contact agent
Rooms and allocations
Each of the four Room floors have 5 rooms per floor. As the original plan with the previous owner was to convert the building into apartments, none of the rooms are identical. Yet each room has the same average size, and same amenities.
Superior rooms, total 7. These rooms have all front facing views of the city, with surrounding windows. 6 of these rooms have enough floor space to accommodate additional beds, to convert rooms into Family rooms. At present, there is only two additional beds, that can be moved into these rooms on request.
The Middle and back sections of the Hotel has the Luxury and standard rooms.
The difference between these and the Superior rooms is the amount of windows per room, the position of the rooms in relation to view and in the case of the 3 Standard rooms, smaller floor area.
The Lift cage is still the original Otis lift from 1935. The DB board and Motor, however, has been rebuilt by Otis specially for this building and shipped from China. Installation took place in November of 2018, and the maintenance contract is valid for 12 months. Service contract for a further two years have been signed.
There are 8 cctv cameras installed throughout the building, monitoring all back of house areas as well as hallways and foyer.
The Building was built in 1930, and forms part of the rich Art Deco era that permeates the Central Business District of Cape Town. As it is situated within an Officially recognised Heritage Zone, the building carries protection under the 2010 South African Heritage Act, and as such, had to comply with all building regulations as prescribed by the Western Cape Heritage Department.
The First owner of the property was a Cape Town newspaper company in 1930, and it has since changed hands on numerous occasions, notably belonging to the Now Defunct South African National Party from 1982 to 1995.
On purchase in 2018, the building went through extensive renovations and remodelling, of which work was completed at the end of November 2018.
It began trading as a Hotel on 11 December 2018.
Building Description and Status:
· Erf 2468, 40 Burg Street, Cape Town General Business Subzone GB7
· Title deeds registered per floor. Thus 6 Title deeds for the Erf.
· Sections 1 to 6 of SS Burgstraat 40 boasting ± 1542sqm
This charming, six-storey, 1930s Art Deco building houses a TGCSA 4-star property comprising of 20 rooms, a bar, restaurant, lounge & conference area.
COMPUTERS & NETWORKING
DIAMONDS – ROUGH & POLISHED, GENERAL AUCTION ROOM, JEWELLERY, COLLECTABLES & FIREARMS
AVIATION AND MARINE, FINE ART & ANTIQUES, GENERAL AUCTION ROOM
CONSTRUCTION, PLANT, MACHINERY & PRINTING