PRIME SOUTH BEACH-DURBAN DEVELOPMENT PROPERTY

2443SQM IN EXTENT

IAN WYLES | 082 490 3512 OR 031 579 4403

OR

KEITH GREEN |082 312 6244 OR 031 512 5005 Terms & Conditions

R50 000 refundable deposit (strictly bank guaranteed cheque or cash transfer only). Bidders must provide original proof of identity and

residence on registration. No cash will be accepted at the auction. No exceptions. All bids are exclusive of VAT. Ian Wyles Auctioneers may

bid up to reserve on behalf of the sellers. Subject to change without notification.

Auctioneer: Ian Wyles

LIQUIDATION PROPERTY AUCTION

46 PRINCE STREET /28 CRIEFF PLACE

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Property Summary

Locality Maps

Additional Information

Pictures

Auction Information

Deposit 5% of bid price payable by The Purchaser on the fall of the hammer

Commission 10% plus VAT thereon of the bid price payable by the Purchaser on

the fall of the hammer

Confirmation period Thursday 15 December 2016

Terms and Conditions

If you are the successful bidder, the following is applicable:

30 Day Guarantee Period from confirmation of sale by the Seller

Possession & occupation of property on registration

Electrical (including electric fencing), woodborer and gas compliance for the

Purchaser’s account, if applicable

Banking Details Ian Wyles Auctioneers

Mercantile Bank

Durban Branch: 450126

Account Number: 1050653718

Reference: Use Name and Property Address

Disclaimer

Whilst all reasonable care has been taken to provide accurate information, neither IAN WYLES AUCTIONEERS Ltd nor the Seller/s guarantee

the correctness of the information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever

nature, suffered by any person as a result of errors or omissions in the information provided, whether due to negligence or other wise of IAN

WYLES AUCTIONEERS or the Sellers or any other person

CONTENTS SOUTH BEACH-DURBAN

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General Property Address 46 Prince Street

28 Crieff Place

Durban, Kwazulu Natal

Title Deed Information

Title Deed Number T44435/2004

Title Deed Description Portion 30 of Erf 10054, Durban & Portion 33 of Erf 10054, Durban

(Linked by Notarial Bond)

Extent 2023m² and 420m² respectively

Zoning Information

Zoning General Residential 5

Coverage 100%

FAR 5.3

Height 59 degrees from the opposite side of each street (max width 30m)

or 110ms with 5.0m setback at 15m

Extent 2023m² and 420m² respectively

(Zoning Certificates Appended)

PROPERTY INFORMATION SOUTH BEACH- DURBAN

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Locality

This property is situated in the residential area between Marine Parade and Prince Street and the

surrounding buildings consist of residential flats. The property is on the bus route to Durban CBD and

is in close proximity to South Beach/ Ushaka Marine World.

Property Details

BUILDING NO 1

This is a single storey building housing nine (9) ground floor retail shops.

Tarred parking area is available via a ramp from Prince Street.

The building is constructed with tiled, painted and plastered exterior and interior walls, aluminium

doors and window frames with cement slab roof. It has an undercover pavement area

BUILDING NO 2

This is a single storey building housing four (4) retail shops. Tarred parking area is available via a

ramp from Prince Street. The building is constructed with tiled, painted and plastered exterior and

interior walls, aluminium doors and window frames with cement slab roof. It has an undercover

pavement area

PROPERTY INFORMATION SOUTH BEACH- DURBAN

DESCRIPTION EXTENT (M²)

BUILDING NO 1

SHOP 1 62

SHOP 2 84

SHOP 3 72

SHOP 4 120

SHOP 5 72

SHOP 6 84

SHOP 7 48

SHOP 8 84

SHOP 9 -

MALE & FEMALE TOILETS 30

SUB TOTAL 656

BUILDING NO 2

SHOP 1 43

SHOP 2 59

SHOP 3 88

SHOP 4 95

SUB TOTAL 249

TOTAL EXTENT OF BUILDING 905

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Leases The following rental income information has been obtained however we have not had sight of

the leases.

NO TENANT EXTENT RENTAL

BUILDING 1 1 JAWITZ ESTATE AGENTS 62 R5 472.00

2 SOUTH BEACH LIQUORS 84 R5 923.00

3 VACANT 72 NIL

4 RAND PIK SUPERMARKET 120 R 18 895.00

5 BUTCHERY 72 R 5 280.00

6 VACANT 84 R 6 300.00

7 CELL C SHOP 48 R 2 818.00

8 VACANT 84 R

9 VACANT - R

BUILDING 2 1 MALS TAKEAWAY 43 R 4 861.00

2 WASH WHIRLD LAUNDROMAT

59 R 4 229.00

3 & 4 BAR 88 R 12 450.00

TOTAL R 77 928.00

Condition The property is in a fair condition. Please note that we have not undertaken a structural survey nor have we arranged for tests of inspections of the service installations. Seller Vat Status The Seller is a Vat vendor. Vat will be applicable to the purchase price.

PROPERTY INFORMATION SOUTH BEACH- DURBAN

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Expenses

EXPENSE AMOUNT (ANNUAL)

RATES & MUNICIPAL SERVICES R 40 800.00

SECURITY WATER & ELECTRICITY R 35 500.00

INSURANCE R 8 250.00

MAINTENANCE R 24 000.00

RENTAL COLLECTION FEE R 7 792.00

TOTAL R 116 342.00

PROPERTY INFORMATION SOUTH BEACH- DURBAN

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46 Prince Street /28 Crieff Place, Durban

LOCALITY MAP SOUTH BEACH- DURBAN

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SG DIAGRAMS SOUTH BEACH- DURBAN

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SG DIAGRAMS SOUTH BEACH- DURBAN

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ZONING CERTIFICATE SOUTH BEACH- DURBAN

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ZONING CERTIFICATE SOUTH BEACH- DURBAN

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PICTURES SOUTH BEACH- DURBAN

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Disclaimer Whilst all reasonable care has been taken to provide accurate information, neither IAN WYLES AUCTIONEERS Ltd nor the Seller/s guarantee the correctness of the information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a result of errors or omissions in the information provided, whether due to negligence or other wise of IAN WYLES AUCTIONEERS or the Sellers or any other person

PICTURES SOUTH BEACH- DURBAN