The sale of the hotel forms part of a major multi-property auction at the Durban Country Club at 11am on July 19. For business travellers, families and matriculants celebrating their escape from school, the Beach has it all. Located on Durban’s Golden Mile beachfront promenade, the perennially popular hotel is close to tourist attractions, the business district, shopping centres, restaurants and entertainment venues.

It offer spectacular views of the Indian Ocean. Gooderson Leisure currently holds a 20-year-lease for the 1 250m² multi-storey property with nearly 14 000m² lettable floor space at the end of OR Tambo Parade on South Beach. The hotel, to be auctioned with a reserve price, should provide a 7% to 9% yield on investment, says Reliance chief executive David Soutter.

“The buyer will be investing in a hotel that has become Durban’s dream destination for inlanders seeking affordable family accommodation,” Soutter says. The 3-star hotel has 112 rooms, satellite TV, conferencing facilities, wi-fi, airport shuttle service and 24-hour parking and security. There are two restaurants and a large outdoor terrace.