Huge Hotel Investment Opportunity
Location: Arcadia, Pretoria
Property Description:
This landmark property boasts a rich history and offers a unique blend of elegance and opportunity. The 8-story building features:
- 64 hotel rooms, including 2 penthouse suites
- 2 large kitchens
- 2 reception areas
- Restaurant and diner
- 10 conference centers
- 2 open spaces
- 52 parking spaces (26 rooftop, 26 underground)
- Retail space
- Rooftop pool
- Gym
- Snack bar
Property Details:
- GLA: ±5,753m²
- ERF: ±2,552m²
Versatile Development Opportunity:
This property can be utilized for various purposes, including:
- Hotel operations
- Commercial offices
- Student accommodation
- Residential apartments
- Hospital
Potential:
- Redevelopment for student accommodation, capitalizing on proximity to universities
- Restoration to its original grandeur, maintaining its historical significance
Proximity:
-Close to UNISA, the University of Pretoria, and the Union Buildings
Asking Price:Reduced from R44 million to R37 Million
This property presents a compelling investment opportunity for those looking to capitalize on Pretoria's hospitality, commercial, or residential markets.