*** SOLD ***
Exclusive Rights to Hotel Operation now Available
R1,320,000.00Cape Town - City BowlListing: #14857
About this business for saleExclusive Rights to Hotel Operation now Available
Exclusive rights to operate a well-established hotel now for sale!
This hotel, which has been declared an historical building, has been the landmark in this Cape Town suburb for over 20 years.
It is renowned for its pub (the decorations come from the 70/80's) as well as its pub lunches which are supported by the local clients.
The hotel needs a serious revamp. Renovations will have to be discussed with the landlord/owner of the building.
The hotel previously had gambling rights, which brought in an additional R700,000 revenue during the 2014 and 2015 financial year. These gambling rights will have to be re-applied for.
The existing owner of the business is meaning to install electricity meters in each hotel room which will reduce the electricity bill by at least R200,000 per annum.
The income of the hotel is derived from the pub, the restaurant and the monthly letting of 19 rooms.
The stock is included in the selling price.
Please note that the selling price is only for the operational side of the hotel business and does not include the building - the purchaser must sign a new lease agreement with the landlord.