ARTISANS TRUST BETTY FOX DOUBLE VOLUME WAREHOUSE CONVERTED INTO A RESTAURANT ERF NUMBER 53 & 54 JEPPESTOWN

Transcription

1 ARTISANS TRUST BETTY FOX DOUBLE VOLUME WAREHOUSE CONVERTED INTO A RESTAURANT ERF NUMBER 53 & 54 JEPPESTOWN Number 303 Fox Street CORNER Betty Street, Jeppestown, Maboneng, Johannesburg AUCTION: Monday 15 April 2019, 12h00 To be held at THE VENUE MELROSE ARCH 17 THE HIGH STREET, MELROSE ARCH, JOHANNESBURG Unit Number 10, Ferndale Mews North, Cnr Oak & Dover Road, Ferndale, Randburg, 2194

2 2 CONTENTS 1. Disclaimer Conditions of Sale Locality Property Description a. Property Description b. Zoning Information c. Municipal Information d. Rental Income DISCLAIMER Whilst all reasonable care has been taken to provide accurate information, neither Park Village Auctions nor the and neither will be held liable for any loss or damages resulting from any errors or omissions in the information herein provided, whether due to the negligence or otherwise of Park Village Auctions or the Sellers or any other person.

3 3 CONDITIONS OF SALE PLEASE NOTE: A REFUNDABLE BIDDERS REGISTRATION DEPOSIT OF R MUST BE DEPOSITED INTO THE TRUST ACCOUNT OF PARK VILLAGE PROPERTY AND AUCTION SALES (PTY) LTD, ONE (1) DAY PRIOR TO AUCTION. Deposit: Confirmation Period: Commission: Occupation: Occupational Interest: Risk, Control & Insurance: 10% of the Purchase Price on the fall of the hammer Fourteen (14) Calendar Days from date of signature Buyer s commission of Four (4%) plus VAT Date of Registration of Transfer 12% per annum The sole risk and control and benefit in and to the property shall, unless otherwise agreed in writing and signed by both parties, pass to the Purchaser on the date of occupation and from that date, the Purchaser shall be liable for all imposts levied on the property, inclusive of and without limiting the generality hereof, all municipal rates and taxes, licences and other official and/or municipal and consumable charges. Transfer Duty / VAT: The Seller is a registered VAT Vendor and VAT at 15% on the purchase price is payable.

4 4 LOCALITY The subject property is located within the Maboneng Precinct situated to the immediate East of the Johannesburg CBD, Gauteng Province. The Maboneng Precinct is not a proclaimed township or clearly defined geographical area but a private, inner-city regeneration project that includes portions of the Johannesburg suburbs of City & Suburban, New Doornfontein, Doornfontein and Jeppestown. Maboneng, is a sesotho word meaning place of light, a fitting name for a district that has fast become a centre of creative energy for Johannesburg s urban artists. The Maboneng Precinct, with its multi-cultural and inclusive vibe, is the centre of creative energy with a mix of restaurants, coffee shops, clothing boutiques, art galleries, retail and studio space. The precinct draws the inner-city public as well as the chic, art-going crowd of the city s suburbs, bringing life to this downtown Johannesburg neighbourhood. Situated just outside the Johannesburg CBD, the area has excellent access via several main and arterial routes. The node is strategically close to the M1, M2 and N17 Highways, giving the property excellent access to the wider metropolitan area. The area also has excellent access to public transport via Bus Rapid Transit and taxi routes. Analysts believe that the importance of location in relation to public transport has been heightened in recent years, as well as distance from major business nodes and proximity to good schools with the Maboneng Project continuing at a steady pace and gaining ever increasing prominence as one of Johannesburg's most successful urban regeneration projects.

5 5 PROPERTY INFORMATION PROPERTY DETAIL: Property Address: BETTY FOX Number 302 Fox Street corner Betty Street, Jeppestown, Maboneng Precinct GPS co-ordinates: , City & Province: Description: Johannesburg, Gauteng Province Two Notarially tied Stands improved with a double volume warehouse building converted into a restaurant with kitchen, cloakrooms and outbuildings. TITLE DEED INFORMATION: Registered Owner: Registered Description: ARTISANS TRUST Erf Number 53 & 54 Jeppestown, District of the City of Johannesburg Metropolitan Municipality, Johannesburg, Gauteng Province Title Deed Numbers: T30969/2013 Registered Extent of Stands: Erf Number m² Erf Number m² Total: 694 m² PROPERTY DESCRIPTION: Stand: Improvements: Fittings & Fixtures: The stand is roughly rectangular in proportion the longer perimeter having street frontage onto Fox Street. The improvements comprise a double volume warehouse building of face brick walling fitted with steel framed glazing under a pitched Corrugated iron roofing structure converted into a restaurant consisting restaurant floor area with brick constructed pizza ovens and service counter, mezzanine level eating area, office, storeroom and cloakrooms with outside courtyard and entertainment area. The internal fittings and finishes are average fitted to tenant specifications. Approximate Extent of Gross Lettable Area: 468 m²

6 6 Electrical Installation: Parking: Physical Condition: Fire Risk Assessment: The electrical supply is via the City of Johannesburg Metropolitan Municipality. The property offers no onsite parking The improvements appear to be in fair physical condition with no apparent major structural defects, however, requiring some repairs and general maintenance. No recent Fire Risk Assessments Report for the subject building is available. MUNICIPAL INFORMATION: Municipal Valuation: Land and Improvements: R Total: R ZONING INFORMATION: Use Zone: Commercial Coverage: 100% FAR: As per scheme Height: H1 (As per Scheme) Parking: As per Scheme Building Lines: Not specified

7 TENANT SCHEDULE: A summary of the rent roll for February 2019 is included below. Betty Fox Unit Nature Tenant GLA Monthly rental (Excl. VAT) 53 & 54 Retail CHE Restaurant 53 & 54 Retail CHE Restaurant 318,00 150, , ,00 Rent / m 2 Rates Recoverable utilities 103,77 113,33 Estimated Annual rental escalations Lease expiry 1 470, ,65 10,80% 28 Feb , ,20 10,80% 30 Sep 2018 Total , , ,85 468,00 Vacant - - 0% Occupied ,00 100% 468,00

8 WINDEED ENQUIRIES WinDeed Property Report Township JEPPESTOWN, Erf 53/0 REGISTERED PROPERTY DETAILS Property Type ERF Diagram Deed T4640/936 Erf Number 53 Registered Size SQM Portion Number 0 Municipality CITY OF JOHANNESBURG Township JEPPESTOWN Province GAUTENG Registration Division IR Coordinates (Lat/Long) / Deeds Office JOHANNESBURG OWNER DETAILS Owner 1 of 1 Person Type COMPANY Title Deed T30969/2013 Name ARTISANS TRUST Purchase Date 2013/02/21 Registration Number IT PMB Purchase Price (R) 1,500,000 Share (%) - Registration Date 2013/08/27 MAPS PROPERTY INFORMATION Address 303 FOX STREET, JEPPESTOWN, JOHANNESBURG Primary Use - Estate - BONDS AND OTHER DOCUMENTS Document Number Amount (R) Holder VA3944/ RICHTRAU 16 INV CC B19230/2015 2,400,000 PRECINCT FUNDING 2 SECURITY S P V RF PTY LTD

9 9 WinDeed Property Report Township JEPPESTOWN, Erf 54/0 REGISTERED PROPERTY DETAILS Property Type ERF Diagram Deed T4640/936 Erf Number 54 Registered Size SQM Portion Number 0 Municipality CITY OF JOHANNESBURG Township JEPPESTOWN Province GAUTENG Registration Division IR Coordinates (Lat/Long) / Deeds Office JOHANNESBURG OWNER DETAILS Owner 1 of 1 Person Type COMPANY Title Deed T30969/2013 Name ARTISANS TRUST Purchase Date 2013/02/21 Registration Number IT PMB Purchase Price (R) 1,500,000 Share (%) - Registration Date 2013/08/27 MAPS PROPERTY INFORMATION Address 64 BETTY STREET, JEPPESTOWN, JOHANNESBURG Primary Use - Estate - BONDS AND OTHER DOCUMENTS Document Number Amount (R) Holder B19230/2015 2,400,000 PRECINCT FUNDING 2 SECURITY S P V RF PTY LTD VA3944/ RICHTRAU 16 INV CC

10 10 MUNICIPAL GIS CITY OF JOHANNESBURG: Corporate Geo-Informatics Parcel information Reports generated from the website must not be used for the purpose of a zoning certificate. Zoning information must be read in conjunction with the applicable Town Planning Scheme clauses and Ammendment Schemes relevant to the erf. More information can be obtained from the GIS information counter on the 8th floor, Metro Building, Braamfontein. Township JEPPESTOWN SG ID T0IR Land type ERVEN Status REGISTERED Stand number 53 Region F Ward number 61 Area(m²) Market value Owner ARTISANS TRUST Zoning General Map of the location

11 11 CITY OF JOHANNESBURG: Corporate Geo-Informatics Parcel information Reports generated from the website must not be used for the purpose of a zoning certificate. Zoning information must be read in conjunction with the applicable Town Planning Scheme clauses and Ammendment Schemes relevant to the erf. More information can be obtained from the GIS information counter on the 8th floor, Metro Building, Braamfontein. Township JEPPESTOWN SG ID T0IR Land type ERVEN Status REGISTERED Stand number 54 Region F Ward number 61 Area(m²) Market value 0 Owner ARTISANS TRUST Zoning General Map of the location

12 12 SG DIAGRAM

13 NOTES 13