Pine Lodge fetches whopping 25,5-m

Update

GEORGE NEWS - Pine Lodge Resort, a landmark property in George, was successfully sold on 4 December by local company Van Rensburgs Auctions.

The final bid was R25,5 million, commission excluded.

"The auction sparked international interest, with over 20 interested parties viewing the property prior to the auction," said auctioneer Daniel van Schalkwyk.

"We were overwhelmed with the amount of investors that enquired about this property. Approximately 80 people attended the auction, 25 of whom registered to take part as bidders."

Auctioneer Louis van Rensburg together with Van Schalkwyk created a great auction hype, starting with an opening bid from the floor at R10 million.

Van Schalkwyk said the approximately 21 000m² property has been on the market for more than four years, but it was the decision to take the property to auction that brought bidders together.

According to the new owner, who wants to remain anonymous, the resort will continue with current operations and it will be business as usual.

"This property offers the new owner a broad spectrum of development opportunities. The extent of the land, the improvements and above all, the excellent location on Knysna Road, makes it one of the prime properties in George.