Summerstrand Hotel sold for R88m

Desperate staff, hoping to retain their jobs, watched while bidders competed at auction

PREMIUM

It took just over four minutes for the iconic Summerstrand Hotel to be snapped up at an auction on Friday afternoon – for a cool R88m.

The 2pm auction took place at the Sheriff’s Offices in Central, with the auction room filled to capacity with potential bidders, some even lining the passageways...

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