The Roma Revolving Restaurant, with its 360 degree view of the city, is something of an institution in Durban, so no doubt the cheque books will be poised and the bidding high when it goes on auction on August 7.
Ingo Strautmann of Asset Auctioneers in Johannesburg, who will handle the auction, said the seller's reserve price may be around R6-million.
However, given the fact that the Mugg & Bean in Musgrave had sold for R4,8-million, and Cafe Gitano in the Pavilion shopping centre (both coffee shops) for R7,5-million, Strautmann believes the Roma, which opened in 1973, could easily command R9-million - and would be a snip at the price.
"It is an iconic landmark and one of only three restaurants in which both the floor and side walls revolve. There are only 31 revolving restaurants in the world, but in 28 of them only the floor revolves," he said.
Given the customers that frequent the Roma, Strautmann believes it could remain a restaurant.
"Members of the American embassy go there. The Russian dancers, when they visited, went there every night. So do other visiting performers."
In addition, Sanlam's Crystal Investments, which owns the commercial rights to the bottom part of the building, he said, plans a R27-million facelift for the John Ross building.
"We are informed that they plan boutiques, and a garden. The whole bay will be reflected in the building's glass windows," Strautmann enthused.
Gino Leopardi, the owner of the top two floors of John Ross House - which includes the Roma restaurant - is keeping his cards (or should we say menu) close to his chest.
Leopardi, who has been in the restaurant business for more than 36 years, said, "It (the Roma) has never been developed to its full potential. It is not even at 50 percent of its potential."
Telling of his love for the Roma, and something of his life as a restaurateur, Leopardi said by 6:45am the phones were already ringing with patrons wanting to make a reservation. It saddened him to turn them away because the restaurant was fully booked every night.
Leopardi starts his day by spending time on the restaurant's balcony.
"It is a wonderful way to recharge my batteries. Even in summer it is cool there and the view is wonderful."
The balcony is not in use and Strautmann thinks it could lend itself to an al fresco cafe.
Leopardi said he has a million ideas as to how the property could be enhanced.
"The function room could be turned into the most beautiful one in Durban."
He believes Durban needs a really up-market cafe/lounge.
Strautmann said they already had buyers showing keen interest. The property (1 600 sq m in total) could be developed as a corporate headquarters or a penthouse, he said.
If the restaurant were to be retained, he felt it had the makings for an excellent BEE deal.
"The present owner could perhaps mentor a likely candidate."
As for Leopardi, he has high hopes that an international airline will make a bid.
"In the right hands, the Roma could be platinum class," he said.