Upmarket Sandton Hotel Set to Close

EmailEmail Print Share

05 Aug 2011

The property lease of Southern Sun Grayston Hotel in Sandton expires at the end of the year and it’s unlikely the hotel will stay open until 31 December 2011. 

 

Asked about the impending closure of the hotel, Southern Sun said in a written statement: “Southern Sun Grayston Hotel lease expires on 31 December 2011.  The hotel group has been in protracted negotiations with the property owner Cavkar Properties (Pty) Ltd in an attempt to conclude a mutually acceptable agreement for the lease extension or formulation of a new lease on the property. 

“The parties have not been able to agree upon terms and conditions which are acceptable to both parties. It appears highly unlikely that the Southern Sun Grayston Hotel will continue trading beyond 31 December 2011.” 

Southern Sun Hotel group has 94 hotels in Africa, Middle East and Seychelles. It is wholly owned by Tsogo Sun Holdings, an entertainment and hospitality group which also owns Tsogo Sun Gaming. 

Its portfolio in Sandton includes Southern Sun Grayston, Sandton Sun, InterContinental Johannesburg, Sandton Towers, Southern Sun Katherine Street, Southern Sun Hyde Park, Garden Court Sandton City, Garden Court Sandton and Garden Court Morningside

 “We have continued to revolutionise the local hospitality industry with our innovative spirit, dynamic management and unparalleled levels of service to both local and international travellers,” said Graham Wood, managing director of Southern Sun Hotels. 

He added that the group remains committed to expanding its portfolio within Sandton and is currently evaluating opportunities. 

Last week, Hyprop Investments Limited, owners of The Grace Hotel in Rosebank, Johannesburg announced that the hotel will close its doors for operations at the end of August.

The Johannesburg Stock Exchange listed property company said the tenant, The Grace Hotel, operated by African Sun Hotels was unable to achieve a financially viable model to facilitate the continuation of hotel operations and the parties elected to terminate the lease agreement. – Denise Mhlanga

Readers' Comments Have a comment about this article? Email us now.

About the Author
Denise Mhlanga

Denise Mhlanga

Property journalist at property24.com

Similar Articles

A new 148-room City Lodge Hotel has opened at Newtown...

Buying hotel apartments either to place in a rental pool...

Located on the Panorama Route in Mpumalanga, Sabi River...

View all articles

Top Articles

Investing in three different types of lighting for your...

Buyers are willing to pay a premium for homes near top...

Teams in the Six Nations Championship will be battling it...

View all articles
Top Articles
08 Feb 2016
Cape Town’s Atlantic Seaboard, CBD and City Bowl property is sizzling, w...
08 Feb 2016
A new 148-room City Lodge Hotel has opened at Newtown Junction, in the g...
08 Feb 2016
For Gauteng home buyers seeking a central location, Noordwyk in the hear...
07 Feb 2016
Lifestyle farms tucked away in the Western Cape’s Ceres area offer buyer...
06 Feb 2016
Located between Cape Town and Cape Point, Hout Bay offers investors a wi...
Newsletter
Get the latest property news.
Select your options:
Loading

Your browser is out of date!

It looks like you are using an outdated version of Internet Explorer.

If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.

For the best browsing experience, update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.


Please contact our Property24 Support Team for further assistance. Tel. +27 (0)861 111 724