Originally built in 1904, and frequented by holidaymakers arriving by train, the Southern Right Hotel, formerly known as The Glen, has played host to sailors and residents of Glencairn and Simon’s Town for over a century.
On sale through Greeff Properties for R17 million, The Southern Right Hotel is located on a hectare of prime land, located at the very tip of Glencairn, just above its juncture with the coastline. Nestling between Fish Hoek and Simon’s Town, Glencairn’s community perches on the slopes rising up on either side of a breathtakingly beautiful valley, with exceptional views of the Indian Ocean and the Glencairn Vlei. Glencairn is a popular railway stop, with a subway leading directly on to the beach much loved for its tidal pool.
Now a heritage site, the hotel has ten en suite rooms, a pub, a 300-seat restaurant and 120m² of retail space, including an Indian restaurant and a collectables boutique among others.
Only metres from the gentle swells of False Bay, the hotel is a popular spot for whale watching. Arguably of even greater interest is its prime position overlooking the protected Glencairn Vlei, a wetland conservation area which is home to an impressive ecosystem including birds and clawless otters, mongoose and buck, as well as some 2250 indigenous plant species.
Sitting on a total of one hectare of land, The Southern Right Hotel forms part of a unique real estate offering. On sale for R17 million, through Greeff Properties, the property includes, in addition to the hotel, a small but self-contained strip of retail outlets, tourism services and restaurants, and presents unlimited development opportunities, according to Mike Greeff, CEO of Greeff Properties, an affiliate of Christies International Real Estates.
“ Of particular interest to a developer is the fact that subdivision and zoning rights are in place until 2016 and plans for additional residential erven, as well as retail have been approved.”
The hotel complex occupies 3250m² and approved plans for hotel expansion include: a conference facility and a further twelve rooms – six of which would be self-catering and six, en suite. The remainder of the real estate offering is made up of 1339m² intended to be for general residential use, with approval for ten luxury apartments. 3003m² has been zoned for single residential use with approval for five plots measuring from 558m² to 643m² apiece. A further 1388m² is designated for mixed retail and residential use, to be divided into six apartments and 400m² of retail.
“The property is like a blank canvas – anything is possible - it’s a perfect site for a retirement village, a boutique hotel and spa, an art and collectibles mini mecca or even a security estate,” says Greeff.
No longer, primarily a holiday destination, Glencairn which includes Glencairn Heights, Cairnside and Welcome Glen is home to an increasing number of families, young professionals and retired couples.
“With a good range of three-bedroom, two- bathroom homes priced from R1.2 million – many of these with sea views – Glencairn is becoming increasingly sought after by first-time home owners, who are receiving 100 percent loans from banks. You cannot beat the area when it comes to value for money,” says Greeff.
He says investors are capitalising on the suburb given that rentals currently achieved for homes priced around R1.2 million are pretty much on par with bond repayments and as such represent an excellent return.
Residential properties currently on sale in Glencairn through Greeff properties include: A three-bedroom, two-bathroom house in walking distance to the beach, priced at R1.2 million, a three-bedroom, two-bathroom home on a 665m² erf for R1.35 million, a five-bedroom, three-bathroom home with a flatlet and pool for R2.195 million and a seven-bedroom, three-bathroom house which is divided into three separate apartments with a pool and uninterrupted ocean views, for R2.7 million.
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