Chance to buy Joburg heritage hotel

An opportunity like this — to buy the Monarch Hotel in Rosebank, Johannesburg, — is rare in today’s lacklustre property market.

WH Auctioneers Properties, in association with 4 Dimension Auctions, have been instructed by the business rescue practitioner, on behalf of the secured creditors, to dispose of the renowned hotel and its contents — including furniture and artwork — by way of public auction.

The company that owns the property, RB Merit Investments, is in business rescue and as a result the hotel will be sold vacant, not as an operational business.

The property is well situated at 167 Oxford Road, directly opposite Rosebank’s Gautrain station. This prominent site has exposure to one of Johannesburg’s major arterial routes linking the city’s old central business district with Rosebank and Sandton.

Almost all properties in the immediate vicinity, such as the Rosebank Mall, have recently been either redeveloped or completely refurbished.

The Monarch is a bespoke 12-room, fivestar boutique hotel, which was built in 1924 as a telephone exchange. It was converted into the Saxonwold post office in the 1930s, and became a hotel in the mid-2000s.

The property represents a unique investment or redevelopment opportunity for astute purchasers and investors.

Due to the heritage status of the building, the front portion and façade are to be retained in their current state.

Potential uses for the site include keeping it as a hospitality operation, using it for high-density residential accommodation, or converting it to offices.

Two separate auctions will be held: the furniture and artwork will be sold on the premises on February 4 2020 at noon, and the property itself goes on the block the following day at noon.

To register, or for more information, visit www.whproperties.co.za or call Joshua on 072-536-5482.