Landmark PE Hotel on auction

11 Jun 2007

On the fall of the hammer on June 12, Port Elizabeth's landmark Seaview Hotel will change ownership – possibly to an international buyer.

And as this occurs, this highest bidder will become owner of not only a hotel complex with a rich cultural history but also 1, 8 hectares of prime land with breathtaking ocean views.

Built more than 70 years ago, the Seaview Hotel has been a popular venue for lavish banquets, weddings and dinner dances, says mandated auctioneer Duncan McLaggan of McLaggans Nationlink in Port Elizabeth.

McLaggan, who will also be auctioning the contents of the hotel on site on Friday 15 June, says interest in the property is high, not only from locals but also international bidders who are well aware of the value of property that sits on the shoreline of the Sunshine Coast.

Built on the instruction of Sir Lewis Richardson who sadly died two years before its completion in 1935, the hotel complex today comprises eight apartments, 27 hotel rooms, nine bungalows, six conference rooms, 18 staff rooms, a restaurant and a public bar.

In 2002, it was bought by Dutch-born Bob Deronde, whose subsequent ill health resulted in its doors closing for business at the beginning of June this year, heralding the end of its existence as a going concern.

Aside from the hotel complex, McLaggan's company will also be auctioning four adjacent properties. Three are vacant stands measuring around 1 300 m2 while the fourth is a plot of approximately 1 100m2 with a building that was once the local hardware store.

Says McLaggan: "These properties offer massive opportunities located as they are within 500m of the sea. They also have 90 percent uninterrupted sea views as a result of sitting on sloped land."

Their appeal has elicited enormous interest from developers keen to explore the viability of a cluster development. "There is huge demand for sectional title units in the Seaview area," McLaggan says, noting that selling prices of two bedroom, one bathroom units now range from R600 000 to R800 000.

Without wanting to forecast the future or final selling price of the Seaview Hotel, McLaggan says one thing is sure: the new owner will not only have a five star residential property but also a host of lucrative possibilities at their fingertips that in turn could bring a new era of glamour to Seaview. – Ingrid Smit

For more information contact Duncan McLaggan at 041 363 5895 / 082 800 2338

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