The well-known Riviera Resort on the Vaal River in Vereeniging has finally been sold.

It was auctioned by Auction Alliance recently for R12-million after two unsuccessful auction attempts by the liquidators to sell it earlier this year.

Both previous auctions were cancelled at the last moment after the previous owner and creditor, Sir John Sherry, attempted to put a rescue package together to save the hotel. Sherry again lodged an application at the Pretoria High Court to stop the auction but this time Justice Annamarie de Vos gave the order to sell the entire hotel and its business excluding the golf course.

The golf course remains subject to a lease agreement and the issue will be dealt with at a later stage. The Riviera Resort was purchased by prominent businessman Mac van der Merwe, who also bought the Zorgvliet Wine farm in Franschhoek last year from Auction Alliance for R31-million. Rael Levitt, CEO of Auction Alliance, who handled the auction, said he was pleased with the price and relieved that the hotel had finally been sold and could now be restored to its "former glory"