Hotel for Sale in Fordsburg

Description

Accepting Offers. DESCRIPTION: Unique Investment Opportunity To Secure Commercial RS Property, Four Stars Rated Hotel And Spa Plus Restaurant. About 5000m² of floor area spread over 4 floors and basement split as: • Basement parking for 12 vehicles • Ground floors – 4 Retail shops,2 offices and ablution facilities • First ,second and third floors – Four Stars Rated - LILIAN LOFTS HOTEL & SPA AND CASA PIQUANTE RESTAURANT: • HOTEL has 38 Hotel suites/Apartments – Each with bedroom/s, lounge , kitchenette and bathroom divided into: • 3 x Twin double apartments /suites • 12 x Twin luxury apartments/suites • 7 x Loft apartments /suites • 16 x 2 -1/2 bedroom apartments/suites • Reception, conference, spa, restaurant, lounge facilities • Four floor- storage and possible suites can be added NB: Contracts In place with ANC, Sassa & a few universities Total combined net income from property, at 70% occupancy hotel & restaurant is ±R635,000 pm or ±R7,624,304 pa yielding you over 11% net ROI and over 14% if fully occupied. NDA to be signed for more financial information. Pre-Auction Offers excl. Claremart fee will be considered. Sold as a going concern so transaction can be zero rated vat. DETAILS: • Erf size: 1486m² • Zoning: Industrial 1 DISCLAIMER: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to purchasing.