Monarch on auction
The Monarch, a five-star boutique hotel built in 1924, is located in Oxford Road opposite the new Gautrain station. It was originally a telephone exchange and then the Saxonwold Post Office during the 1930s.
"The recent opening of the Gautrain Station in Rosebank has caused an acceleration of activity within the ever-expanding Rosebank precinct, and investor demand for property in the area is at a high," said Aronson.
The historic property has a presidential suite that played host to Ghana's President John Evans Atta Mills during the 2010 Fifa World Cup. It is valued at R60-million. The ground floor offers a reception area and lobby, seven suites, dining room, public ablutions, well-equipped kitchen, cigar room and board room. The first floor includes five suites and an office space.
The hotel was refurbished in 2009, transforming it into a five-star boutique hotel. But it is only the inside that was renovated and the facade of the building still remains. Its surrounds are a mix of retail and business developments, including the Zone mall, The Firs, the Hyatt Hotel and Oxford Corner.
Another Rosebank hotel, The Grace, closed its doors in August