By Mark Ogagan
Park Village Auctions (PVA) is inviting offers for 166 furnished apartment units within Braamfontein’s iconic Parktonian Hotel.
The portfolio on auction consists of 166 furnished, one-bedroom residential apartment units in the high-rise building at 120 De Korte Street.
Director and Head Auctioneer Clive Lazarus said the offer will interest “investors looking to acquire a major holding in a proven, well-established building with long-term income potential”.
The offering comprises 166 sectional title units within the Parktonian Hotel, each featuring balconies and a seating area, the furniture within each unit, and assorted furniture and fittings in the common-property areas.
“Crucially for investors, a rental pool agreement is already in place, offering an immediate income-generating structure,” Lazarus said.
“This is well-suited for long-term private student accommodation, capitalising on the property’s ideal situation.”
The property’s location is in a dynamic commercial and educational hub, with walking distance of major corporate headquarters, academic institutions like Wits University, and key public transport hubs such as the Gautrain.
Nearby cultural attractions include the Constitution Hill Human Rights Precinct and the Apartheid Museum, with the Johannesburg Art Gallery approximately five minutes away.
The Parktonian has had a long history in Johannesburg. It originally served as staff accommodation for Anglo American before being converted to a hotel about 20 years ago.
In the years since, it has undergone several renovations and structural changes. In November 2021, ANEW Hotels & Resorts acquired the Protea Hotel by Marriott Johannesburg Parktonian, which it renamed to the ANEW Hotel Parktonian.
Discussion about this post