AUCTION OF PRIME LOCATED GUEST LODGE IN CAPE TOWN

With the 2010 World Cup Soccer drawing nearer, the local hospitality industry is experiencing heightened interest among those wishing to enter the market in order to capitalise on this global event. An opportunity has arisen to acquire a prime located, successfully operating guest lodge which is well situated in a prime location in Cape Town's exclusive Milnerton Ridge area - just 15 minutes from the city centre and 25 minutes from Cape Town International Airport. The property - which includes the guest lodge business - is to be auctioned on site at 11am on Wednesday 16 April 2008 through Pam Golding Commercial Auctions.

The business is currently trading as Outback Africa Lodge, a modern guest lodge with a 3-Star AA Grading from the Tourism Grading Council of South Africa. Milnerton Ridge is a sought after residential area located near the Rietvlei Nature Reserve and within easy reach of key routes, making it very accessible.

Comments Paddy Smuts, auctioneer for Pam Golding Commercial Auctions: "This is a sound investment opportunity coupled with the fact that the new owner can simply move in and operate the business. Set on 950sqm, this well appointed and managed guest lodge has an established clientele, of which some 90 percent are airport collections. The building comprises 550sqm with 11 rooms (five en suite), an Internet café, dining room which seats 12, entertainment area with swimming pool, boma and braai facilities and fully fitted modern kitchen with large gas stove. There is also secure parking for 13 vehicles."
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