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Prestigious 40 On Burg Hotel, Cape Town – Online Auction

Online auction of an upmarket TGCSA 4-star boutique hotel, conveniently located in Cape Town City Bowl.

Lot Closing: 17/03/2021 2:00 pm

Sale Method: Online Auction

Featuring

40 On Burg Hotel, Cape Town –  an exciting investment opportunity!

A charming six-storey, 1930s Art Deco building houses a  TGCSA 4-star notel. Property comprises of 20 rooms, a bar, restaurant, lounge & conference area. Hotel is in close proximity to many restaurants, cafes, public transport, the Houses of Parliament, Government Avenue, Company Gardens and many historical sights and museums.

 

Description and Status:

  • Erf 2468, 40 Burg Street, Cape Town General Business Subzone GB7
  • Title deeds registered per floor. Thus 6 Title deeds for the Erf.
  • Sections 1 to 6 of SS Burgstraat 40 boasting ± 1542sqm

 

Rooms and allocations:

Each of the four Room floors have 5 rooms per floor. As the original plan with the previous owner was to convert the building into apartments, none of the rooms are identical. Yet each room has the same average size, and same amenities.

Superior rooms, total 7. These rooms have all front facing views of the city, with surrounding windows. 6 of these rooms have enough floor space to accommodate additional beds, to convert rooms into Family rooms. At present, there is only two additional beds, that can be moved into these rooms on request.

The Middle and back sections of the Hotel has the Luxury and standard rooms.

The difference between these and the Superior rooms is the amount of windows per room, the position of the rooms in relation to view and in the case of the 3 Standard rooms, smaller floor area.

 

Elevator:

The Lift cage is still the original Otis lift from 1935. The DB board and Motor, however, has been rebuilt by Otis specially for this building and shipped from China. Installation took place in November of 2018, and the maintenance contract is valid for 12 months. Service contract for a further two years have been signed.

 

Security:

There are 8 cctv cameras installed throughout the building, monitoring all back of house areas as well as hallways and foyer.

 

A Brief History:

The Building was built in 1930, and forms part of the rich Art Deco era that permeates the Central Business District of Cape Town. As it is situated within an Officially recognised Heritage Zone, the building carries protection under the 2010 South African Heritage Act, and as such, had to comply with all building regulations as prescribed by the Western Cape Heritage Department.

The First owner of the property was a Cape Town newspaper company in 1930, and it has since changed hands on numerous occasions, notably belonging to the Now Defunct South African National Party from 1982 to 1995.

On purchase in 2018, the building went through extensive renovations and remodelling, of which work was completed at the end of November 2018.

It began trading as a Hotel on 11 December 2018.

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Note to purchasers

Auction Notes: To be approved for bidding, we require: completed participation form, proof of payment of R10 000 registration fee, and FICA documents.

Buyers Premium: 6%

VAT / TAX: 15% VAT applicable on commission and purchase price

Payment Type: EFT

Additional Notes

Legal Notice:

 

View Legal Notice

This auction is governed by the Consumer Protection Act – Act 68 of 2008 (South Africa), and further reference to the Act and the regulations can be downloaded here.
Consumer Protection Act 68 of 2008
Consumer Protection Act 68 of 2008 – Regulations

COV-19 SPECIAL CONDITIONS

1 The Buyer recognises that the world is currently amidst a pandemic, which may affect how business gets done and cause some difficulty in viewing and collection of assets amongst others.
2 Sellers may have to introduce and modify the rules of engagement relating to the sale and access of various sites. All buyers agree that they will adhere to the regulations and rules set by Government and the Sellers and furthermore agree that the Buyer cannot use this to withdraw from sales.
3 The Buyer recognises that there might be a delay in the collection of assets and/or access to site, which will impact loading time and collection efforts. Each bid that is made by the Buyer is made with this in mind.

The Bidders Attention Is Drawn To The Following:

Auction/Sale Notes

  • The assets will be sold as is where is. It is the buyer’s responsibility to perform an inspection of the assets prior to the auction.
  • The auction/sale is subject to a reserve price and will not be sold for less than such.
  • The Sale of the assets is non-suspensive and not subject to any feasibility or any other condition required by the buyer.
  • The auctioneer may bid for any lot or lots offered for sale at the Auction on behalf of third parties.
  • The Auctioneer may bid for any lot or lots offered for sale at the Auction on behalf of seller but, if on behalf of the seller, not at or in excess of the reserve price.

Register & Bid on AllSurplus

Event Details

Bidding Opens: March 8, 2021 9:00 am

Bidding Closes: March 17, 2021 2:00 pm

Asset Location: 40 Burg Street, Cape Town, WC

Viewing Details: Strictly by appointment

Contact Details

Contact: Kim Faclier

Email: kim.faclier@liquidityservices.com

Telephone: 0860 00 00 10