SA ski resort to go under the hammer

Mar 31 2011 06:32
Elma Kloppers
Johannesburg - The company that is to auction South Africa’s only ski resort is currently snowed under with enquiries from local and foreign buyers.

This unusual property is the well-known Tiffindell Ski Resort in the shadow of the Ben McDhui peak in the southern Drakensberg in the Eastern Cape, which will be put under the hammer by The High St Auction Co on May 12 in Hyde Park, Johannesburg.

According to Spiro Barbaressos, business development manager for The High St, great interest has been expressed in the unique property, including interest from international companies looking for a South African investment opportunity.

He would not say what price the property might fetch, but believed the market would ultimately determine the price.

It was particularly difficult to come up with a figure because there was no comparable property, he said.

The 101ha resort, which currently includes a main lodge, as well as various chalets which together can accommodate 142 guests.

The resort also has a bar, a shop, a ski school and facilities for hiring ski equipment.
There is a beginner’s slope and the main ski slope is served by a ski lift.

Barbaressos says the cherry on the cake is the fact that 40ha of the existing property has already been zoned and approved for an additional hotel and residential development.

- Sake24

For business news in Afrikaans, go to Sake24.com.



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