Historic Houw Hoek Inn for sale by tender
Category Property news
Located on the site of a toll gate established in the Dutch East India Company’s era, and first built in 1779, Houw Hoek Inn has retained much of the original architecture, and the ground floor bears testimony to the grandeur of this previous age. Boasting the first liquor license that was ever issued in South Africa, the establishment is embedded in the memories of generations of Capetonians. Few have not attended a wedding or conference there, or at least stopped off for a traditional scone tea, legendary Saturday night dinner dance or Sunday carvery.
Located as it is in the heart of the Kogelberg (Biosphere) Reserve, and unmissable from the N2, just 45 minutes from Cape Town and 75km from Cape Town International Airport, Houw Hoek Inn offers city dwellers an easily accessible retreat. The establishment is now for sale by tender through a sole mandate with Greeff Properties, an exclusive Affiliate of Christie’s International Real Estate. “While Houw Hoek Inn has been in continuous operation for longer than any other hotel in South Africa, it is a thoroughly modern three-star facility with substantial infrastructure, staff and goodwill. A shrewd investor will have no difficulty polishing this jewel,” says Greeff Properties CEO Mike Greeff.
The hotel is in excellent condition and currently comprises 49 rooms with 120 beds, conferencing facilities for 120 people, an a la carte restaurant and the salubrious ‘Hitching Post’ pub.
Other amenities include:
- squash court
- two swimming pools
- tennis court
- volleyball court
- putt-putt course
- three boreholes
- generator with more-than-adequate spare capacity.
Houw Hoek Inn Hotel highly eligible for tender-type sale
“Zoned as a resort and with loads of vacant property, there is significant potential to increase the scale and profitability of the business going forward,” says Greeff, adding that Houw Hoek Inn currently hosts more than 100 weddings and conferences a year.
Greeff ,along with the seller, are of the opinion that Sale by Tender is the optimal vehicle for the effective sale of a facility such as Houw Hoek Inn. “A Sale by Tender is an effective sales mechanism is that it helps sellers make a definite sale by a certain deadline without losing value in the process,” says Greeff, adding that the process produces offers which reflect current market value as defined by a variety of interested investors. “The sale by tender offers certain advantages over an auction, in that the seller maintains control of the process and is not put under pressure as with the normal auction procedure,” explains Greeff. Unlike an auction, a sale by tender can be negotiated after expiry, giving all parties more latitude to conclude a satisfactory sale.
Greeff says that buyers are permitted to make a conditional offer, but must adhere to the seller’s terms. These terms and conditions are included in an official tender pack which can be requested via email from George Joubert.
Contact:
Email: george@greeff.co.za
Mobile: 083 306 0620
The tender process closes at 5pm on Wednesday 30th September 2015.
The reserve price is available on application.
Author: Greeff
