More than a year after 2oceasnVibe first covered the story about South Africa’s only ski resort going under the hammer, the resort will finally be sold in a “no reserve” auction on July 12 this year. Now you can really own it. Auction Alliance didn’t crack the nod for this one, so expect everything to be above board.

Tiffendell was embroiled in a long and shady financial scandal that began in 2007, and was eventually forced to close the slopes indefinitely in 2009. A four-year long legal battle finally came to a close in October last year, allowing the sale to go ahead.

The beautiful property is nestled below the Ben McDhui peak, in the southern region of the Drakensberg in the Eastern Cape, and boasts an already healthy infrastructure.

Chalets can accommodate up to 142 people, and the estate also has a main lodge area featuring a lounge, restaurant, kitchen, bar, a shop, and ski hire facilities.

There is also a ski school, a ski service and snowboard centre with a beginners slope, main slope, and a gully slope. The main slopes are serviced by a ski lift, and the beginner slope has a small pulley controlled ski lift.

The 101-hectare property also includes a 40-hectare portion that has been approved and zoned for additional development.

The uniqueness of the property also poses a challenge to putting a price on it at this stage, but expect myriad hospitality companies, developers, investors and others to be interested.

Tiffendell will go under the hammer on July 12th, at Summer Place in Hyde Park, Johannesburg.

Nick Pretorius, Sales Director at The High Street Auction Company, who will conduct the auction along with Ndali Michael James Auctioneers says of the auction:

Absolute auctions are uncommon because there is no price protection on the seller’s behalf. However, we and the liquidators agreed that because everyone has to participate in an absolute auction, a simple case of the highest bidder wins will generate the best possible price in current market conditions.

Finally, this once in a lifetime investment opportunity is upon us.

[Source: Moneyweb]