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Case Study

Sale by tender for Park Inn

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Sale by way of private tender of 273 key hotel
Customised solution

Our client, the liquidator, required the sale of the 273 key Park Inn Sandton hotel through a process that was robust and transparent. JLL proposed a two-stage private tender sale of the property.

Offering robust pricing of the property, we ran a transparent and ethical process which could not be challenged by the liquated shareholder.

Results

The private tender process encouraged competition and resulted in the sale of the property at a level 15% ahead of any previous unsolicited offer.

 

JLL executed our instructions with absolute professionalism and commitment. The quality of the services rendered by the JLL Capital Markets team were the decisive factor in the outstanding result that followed from the sale by public tender

Allen Pellow, Westrust (Pty) Ltd (for Joint Liquidators)

Client Profile

Industry: Liquidator
Geography: Sandton, Johannesburg
Space: 15,341m²
Value: R265 million
Length of relationship: 1 year
Services provided: Capital Markets

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