Lucrative future seen for hotel as student hostel

Four-storey building is situated close to university in Port Elizabeth

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 Friday 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 Innstyled 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 11 700m², 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 041 487 3957 or 083 511 7303, email rolene@michaeljames.co.za or see www. michaeljames.co.za. – Auctions Writer

CLAREMART will soon auction this stand-alone, double-storey building (pictured) with “excellent redevelopment potential” in Cape Town’s trendy De Waterkant. The vacant 200m² building has open-plan floor space, high ceilings characteristic of this historic Cape neighbourhood, and has shower and ablution facilities. Mike Baigel, who is handling the sale for ClareMart, says it is ideal for reconversion and suitable for multiple uses. “De Waterkant is a sought-after location for both residential and commercial properties. This building has excellent redevelopment potential and, for a savvy investor, could yield significant returns,” he says. 109 Waterkant Street – on show on October 22 from noon to 2pm – is one of the lots for ClareMart’s next multiple property auction at the Hellenic Community Centre, 24 Bay Road, Mouille Point, on October 30 at 12.30pm. For more details, email mike@claremart.co.za, call 082 926 9479 or see www.claremart. co.za.

Port Elizabeth’s Summerstrand Hotel, close to the city’s university and the beach, would provide lucrative income as exclusive student accommodation, says Michael James Organisation.