The once iconic Stone Crescent Hotel, approximately eight kilometres outside Grahamstown, went up for auction on Wednesday.
The once iconic Stone Crescent Hotel, approximately eight kilometres outside Grahamstown, went up for auction on Wednesday.
The 105 hectare property boasts approximately 2500 m2 of buildings under roof with 28 rooms and six bungalows.
There is a huge entertainment area with a dining room as well as a swimming pool with ample braaiing area. Apart from the land and buildings the property also has sole access to a water from a spring.
Tests on the water were conducted by Jimmy Emslie from Albany Pumps and the water has been deemed as of an excellent quality and safe for human consumption.
The water currently flows out at a high speed of 12785 litres per hour. The auction was conducted by Andrew Hutchinson from Hutch Properties and was well attended.
The bidding started off slow with an opening bid of R500 000 and turned into a bidding war between two main buyers.
The final bid was made by Russell Field at R2.1-million but the current owner, Romano Everts, reserves the right to accept or reject the offer by Friday 2 April. The auction took under an hour to conduct and was reasonably well attended.
