4* Sectional Title Hotel situated in George – 60 rooms for sale

4* Sectional Title Hotel situated in George – 60 rooms for sale

For Sale

R39,600,000

Property ID :

 None

Description

4* Sectional Title Hotel situated in George – 60 rooms for sale

Hotel category: 4*

Number of Rooms: 60 (109 total)

Location: George

Hotel operator:

  • Operated by International Chain
  • All 60 rooms form part of the hotel rental pool

Purchase price: R39,600,000

Net Income: Estimated at R1,500,000

Net Yield: Approximately 4%

Amenities and other defining features:

  • Demand for accommodation in George to increase as result of Total’s recent ‘world-class’ oil and gas find at its Brulpadda block off the coast of Mossel Bay
  • Nestled between two of the country’s top golf courses and in close proximity to other world class courses in Mossel Bay, Knysna and Plettenberg Bay
  • Great leisure product PLUS investment income
  • 28 days of use during the year subject to R300 daily use fee
  • All levies and maintenance are paid for by the rental pool
  • High capital growth potential