Sea Point's Ritz Hotel could soon be in new hands

LOCATED on the popular Atlantic Seaboard, the Ritz Hotel Cape Town is on the brink of being sold to a Dutch or French company for R240-300 million

- VIVIAN WARBY

Bruce Hendricks, managing director of Hendricks Harmse Attorneys, one of the representatives of the owners and whose company is managing the Ritz Hotel building, confirmed they were deep in negotiations for the sale, with some i’s to be dotted and some t’s to be crossed.

“Depending on the final stages of these negotiations, the sale could go through by next Friday,” he said.

Hendricks could not confirm the amount the owner had accepted for the sale nor with whom they are negotiating. There are still some final issues being negotiated and that would be the deciding factor on whether the building will put up a “sold” sign next Friday.