R780,000 | 950m² Hotel For Sale in Settlers

This old hotel will bring memories to the older generation..... where guests used to play tennis & bowling, having drinks and something to eat afterwards.

The topography of the property is flat lying.

Hotel building - 750m2 Brick walls with plaster, corrugated iron roof is leaking.
Outbuilding 1 (Off sales) - 40m2 Brick walls with plaster, corrugated iron roof.
Outbuilding 2 (rooms) - 50m2 Stone walls, corrugated iron roof.
Outbuilding 3 (rooms) -1 110 Brick walls, corrugated iron roof.
(Buildings are old - more than 60 years)

Current Gross income.
2 x R10,000 pm x 8 months x 65% probability = R104,000
The 65% probability is to factor in the risk that it maybe for less than 8 months.

Value of the two liquor licenses -

Liquor store
It authorizes the selling of liquor on an Off-sales basis.

Liquor license Settlers Hotel Bar
This license has a condition to it that must be met first, namely that the premises will be completely furnished and equipped to conduct business. A police officer has to conduct an inspection and issue a certificate that the above condition has been met.

The administration cost to apply for a new license varies between R10,000 – R20,000.
The advantage to use an already available license is that the person can immediately start doing business and does not have to wait for the administration process to be completed.

One can renovate the property for a hotel, hostel or low cost living.