BRAAMFONTEIN: THE PARKTONIAN HOTEL IN SOUTH AFRICA

DESCRIPTION OF THE PROPERTY: - The Protea Parktonian Hotel boasts the most spacious hotel guest rooms in Johannesburg - 300 suites in total, all similar in size, most with personal bar, mini-safe, radio, colour TV & air conditioning. New Electronic key card locks have recently been installed - 4 star standards - The hotel is accessed via a forecourt & attractive entrance portico - A subsidiary entrance links the adjoining parking garage via covered walkway; garage, via covered walkway. - The foyer is attractive, spacious & tiled in Italian marble. - The "Meridians" cocktail Bar is open all day, and the "Orchard" restaurant is open all day, for meals, coffee and snacks. - Substantial conference complex, one of the most comprehensive in Johannesburg - The adjoining parking garage is owned by the hotel, on leasehold, and provides 440 covered parking bays for public and hotel use. - The hotel has its own indoor pool, and hotel guests have access to the adjoining civic Recreation Centre featuring squash courts & gymnasium. (The intention is to construct a small gym within the hotel itself, for the guest's exclusive area) - The hotel has extensive back-of-house facilities (required by any establishment of this size), including offices, staff changing rooms, staff canteen, kitchens, store rooms, maintaince workshops, 5 Conference venues and 7 Boardrooms, this property has the capacity to contain conferences in excess of 450 delegates etc. - Recently new computer hardware & software (Fidelio/Micros/Accpac) & new electronic key card locks have been leased as operating expense items. - The Protea Parktonian has made a feature of offering exceptional security & this has been an important factor in the hotel's success. WHAT EACH SECTIONAL TITLE UNIT COMPRISES: - 55sqm including 7sqm balcony - Living room - x1 Bedroom - x1 Bathroom: bath, vanity & basin, - Kitchenette NB: Ownership of the built-in-fittings, equipment & furniture in that suite (UNITS ARE SOLD UNFURNISHED, The furniture is supplied by the Management Company to the Income Pool to be able to operate as the Hotel.) Ownership of th of the public rooms, restaurant, bar, conferencing areas, & back-up areas such as kitchen, storerooms & staff areas. This ownership comes as a result of all these areas being classified as "common areas" in terms of the Sectional Title Act, such that the revenues generated in these areas, & costs associated with these areas, & costs in generating such revenues, will be apportioned equally between the 300 suite owners. HOTEL LOCATION: - Situated between the main Johannesburg CBD, and the substantial commercial area of Braamfontein & Parktown. - 120 De Korte Street, Braamfontein, Johannesburg - Close proximity to the M1 Highway, giving quick access to the main Johannesburg International Airport, (approx. 25 minutes). - The M1 also gives easy access to the nodes of Rosebank & Sandton - Of all prominent Johannesburg hotels; the Protea Parktonian offers the easiest access to the new major tourist attractions: - Constitution Hill (2 minutes); - Newtown Cultural Precinct (5 minutes); - Soweto (15 minutes). - With the Gautrain that is complete, the hotel is the nearest major hotel to the Johannesburg central Gautrain Station UNIT IS SOLD UNFURNISHED. UNIT IS SITUATED ON THE 15TH FLOOR. www.inyamekoproperties.co.za