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R 52 000 000

Commercial Property for Sale in Grahamstown Central

123 High Street, Grahamstown Central, Grahamstown

2 805 m²

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Conference and Leisure Enterprise Investment opportunity

Company Profile of the Graham Hotel *** and Evelyn House ****, Grahamstown/Makhanda, Eastern Cape.

Ideally situated in the central business district of historic Grahamstown within walking distance from the law courts, Rhodes University, Museums, Government Departments and major retail outlets.

Grahamstown is home to the National Arts Festival and there are another eight national festivals that happen throughout the year. In addition, there are a number of very good schools that attract visitors throughout the year with their sporting, cultural and reunion events.

Rhodes University provides a regular trade through their Orientation and Graduation periods as well as visiting academics and professionals involved with courses and conferences offered by the University. With the Seat of the High Court and Supreme Court based in Grahamstown we are fortunate to host a...

Company Profile of the Graham Hotel *** and Evelyn House ****, Grahamstown/Makhanda, Eastern Cape.

Ideally situated in the central business district of historic Grahamstown within walking distance from the law courts, Rhodes University, Museums, Government Departments and major retail outlets.

Government business makes up a large majority of our trade due to the many departments being based in Grahamstown. We are also centrally located between Port Elizabeth, East London and Bhisho for ease of access for government and corporate conferencing.

Business History

The Graham Hotel as it stands today was rebuilt after fire damage in the 1950s. Upgraded in 1998 firmly establishing the property as a 3 Star hotel of choice in the area. Today the Graham Hotel is the only functioning hotel in Grahamstown. The latest addition to the business is the highly popular Pothole and Donkey Restaurant which offers an eclectic dining experience and boasts a vast menu, estate wines, cigar lounge, kids play area and cocktail and expresso bar.

Evelyn House was incorporated into the business in 1996 as a 4 Star guest house which offered the guests a more upmarket alternative to the hotel and also provided a swimming pool and parking area for the hotel. On a separate Title Deed this portion of the parcel measures 509 Sqm of improvements on an erf size of 1444 Sqm.

The hotel also has a separate sports bar and several tenanted line shops measuring 240 Sqm

The building has a 45kw capital grid tiered hybrid solar plant with 45kw battery backup. There is also a water plant with 26 000 litre water backup and three-phase pressure pumps.

Evelyn House situated across the road from the Graham Hotel is an historic building circa 1837.

Seller is VAT registered and this transaction will attract VAT.

For a further in-depth prospectus kindly contact Jack McLeod

Listing number: P24-112698802, Image number: 1

Listing number: P24-112698802, Image number: 2

Listing number: P24-112698802, Image number: 3

Listing number: P24-112698802, Image number: 4

Listing number: P24-112698802, Image number: 5

Listing number: P24-112698802, Image number: 6

Listing number: P24-112698802, Image number: 7

Listing number: P24-112698802, Image number: 8

Listing number: P24-112698802, Image number: 9

Property Overview

Listing Number

112698802

Type of Property

Commercial Property

Street Address

123 High Street, Grahamstown Central

Lifestyle

Suburban, University/College Community

Listing Date

24 May 2023

Net Price

R 52 000 000

Erf Size

1 058 m²

Floor Size

2805 m²

Rates and Taxes

R 17 171

Zoning

General Business

Building

Building Name

Graham Hotel

Gross Lettable Area

2805 m²

Building Grading

C Grade

Multi Tenanted

Yes

Style

Traditional

Facing

Street Front, Level Road

Wall

Brick, Plaster

Window

Steel , Aluminium

Standalone Building

Yes

Number of floors

Points of Interest

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