The property is on a 1462m² stand and consists of two sections: a triple storey building facing the front and a double-storey building at the rear of the property.

The front section is zoned general business B with the rear section zoned general residential sub-zone R2.

In total, the property consists of 42 suites and two retail stores.

Hotel Graeme, situated at 107 Main Road, enjoys a favourable location proximate to the 2010 Fifa World Cup stadium and V&A Waterfront, and has easy access to the central business district and popular Atlantic seaboard.

The hotel is also conveniently located amid a host of trendy eateries, cafés and cocktail bars along the Green Point and Sea Point strip.

“We have been inundated with calls requesting more information on the hotel,” says Elias Tzouvanni of the Alliance Group.

“Such is the interest in the property that a separate town planner’s report has been compiled and included in our brochures,” he says.

“This is just another step we have taken to lessen the workload of our clients and assist them in making informed and educated decisions with regards to purchasing assets.”

At a separate auction, The Alliance Group is taking a prime warehouse in Montana to auction.

The property is situated in the business park adjacent to Zambezi Drive, just 750m off the N1 highway, surrounded by the rapidly developing business node of Montana Gardens.

Neighbouring properties include showrooms, offices, shopping centres and residential developments, with very few parcels of undeveloped land available for either residential or commercial use.

The warehouse, with a gross lettable area of about 3640m², is built on a stand of 8544m²

Although initially planned for distribution purposes, the warehouse will accommodate a broad spectrum of businesses with its loading bays, good height and parking facilities and additional land where one can either increase the lettable area or use it for further storage or parking.

The property also has a 100kW generator. A lease agreement with Bidvest yields a gross income of R1,77m a year.

This property is a valuable investment opportunity in an area that by all accounts is set to grow further in the near future.

The auction will take place on October 20at 11am at the Radisson Blu, corner of Rivonia Road and Daisy Street, Sandton.