A four-storey hotel close to the Nelson Mandela Metropolitan University in Port Elizabeth - and ideal for student accommodation - is on offer from Michael James Organisation (MJO) in a sale in execution in Port Elizabeth on October 11 at 2pm.
The property, Summerstrand Hotel at 39 Marine Drive on Port Elizabeth’s popular “golden mile”, started operations several decades ago as a Holiday Inn. Its design is typically Holiday Inn-styled with four wings, public areas, back-of-house areas, large hotel rooms and offices.
Apart from its proximity to the local university, the hotel is adjacent to the Humewood Golf Club, 2.3km from the Boardwalk Casino, 6.7km from Port Elizabeth International Airport and a short walk from the beach.
Rolene Kotze, who is handling the auction for MJO, says the major future potential for the new owner of the hotel would probably be as student accommodation.
“Several of the 127 en-suite rooms with balconies are already occupied by university students, and the most lucrative future for the hotel would appear to be as hostel,” Kotze says.
With an under-roof area of 11700m², the hotel has a reception area, conference room, bar and barbeque area, garden with swimming pool, 300-bay parking area, security, and fully equipped kitchen. There is also a separate building comprising workshop, store and boiler room next to the hotel, and the 5.7ha site includes 2.2ha of undeveloped land.
The auction will be held at Sheriff’s Offices, 2 Cotton House, corner Albany Road and Govan Mbeki Avenue. The sale is subject to confirmation by the creditor, Kotze says.
For more details and viewing arrangements, call Rolene Kotze on 0414873957 or 083 511 7303, email [email protected] or see www.michaeljames.co.za.