By Katherine Wilkinson

PINE Lake Marina, a timeshare resort on the banks of the Swartvlei outside Sedgefield, will be auctioned on May 10 as the timeshare contract nears its end in almost two years‘ time.

The shareholders met in Sedgefield on Monday morning to discuss the sale of their property.

Garden Route Chalets (GRC), which is the holding company, said: “We are attempting as a board to obtain a very good base offer before the auction is held in order to protect the rights of our shareholders.”

Van Rensburg Auctioneers from George have been chosen to auction the resort.

According to a GRC newsletter, the shareholders‘ rights of occupation at Pine Lake Marina will continue until January 31, 2010, irrespective of the date of sale of the resort.

Van Rensburg also auctioned the timeshare homes on the Island in Sedgefield and in Plettenberg Bay in December. These homes were also owned by GRC.

Source: The Herald