PROPERTY INFORMATION BUFFALO INN, PUB AND 2 HOUSES CORNER GOVERNMENT SQUARE & MARBLE STREET EAST, MARBLE HALL TOTAL ERF SIZE: 5 330 M 2 Auction Date: Tuesday 18 th August 2015 @ 12h00 Auction Venue: The Wanderers Club, 21 North Street, Illovo, Sandton, Gauteng Contact: Ismail Hendricks, 082 908 6653, ihendricks@broll.com
TABLE OF CONTENTS 1. Opportunity Summary 3 2. Property Information 17 ANNEXURES Annexure A: Title Deed Annexure B: Zoning Certificate TERMS & CONDITIONS: Bidders must register and bring ID, proof of residence (FICA) and letter of authority to sign on behalf of a juristic entity. Rules of auction are available at www.broll.com and at our offices. The auction is conducted in terms of the regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. 2 Disclaimer: Whilst all reasonable care has been taken to obtain the correct information, neither Broll Auctions and Sales (Pty) Ltd, nor any of its subsidiaries and related companies, nor the Sellers, guarantee the correctness of the information, and none of the aforementioned 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 supplied, whether due to the negligence or otherwise of Broll Auctions and Sales and its subsidiaries and related companied, the Seller, or any other person.
OPPORTUNITY SUMMARY Description Buffalo Inn Motel, Restaurant and Pub set across 2 erven. House with 4 lettable rooms situated on separate erf. House with 6 lettable rooms situated on separate erf. A Private Operator pays monthly rental of R40 000 to Owner on a month-month basis. Has been operating for the past 5 years. The Private Operator runs the motel, pub and accommodation. THE PROPERTIES WILL FIRST BE SOLD SEPARATELY AND THEN TOGETHER. Title Deed Erf 97, Marble Hall, Limpopo, 1 167 m 2 Zoning Erf 98, Marble Hall, Limpopo, 1 189 m 2 Erf 99, Marble Hall, Limpopo, 1 487 m 2 Erf 102, Marble Hall, Limpopo, 1 487 m 2 TOTAL: 5 330 m 2 tbc Gross Lettable Area 1418 m 2 GLA Tenanted 1418 m 2 GLA Vacant 0 m 2 Annualised Gross Income Expenses Paid By Tenants R480 000 per annum Electricity, Maintenance, Cleaning 3
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6 BUFFALO INN MOTEL
7 BUFFALO INN MOTEL PARKING AREA
8 TYPICALMOTEL ROOM
9 BUFFALO INN PUB & SLOT MACHINES
1 BUFFALO INN PUB & SLOT MACHINES 10
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12 FRONT ENTRANCE: HOUSE WITH 4 ROOMS FOR SHORT TERM RENTAL
13 BACK ENTRANCE HOUSE WITH 4 ROOMS FOR SHORT TERM RENTAL
14 HOUSE WITH 6 ROOMS FOR SHORT TERM RENTAL
15 FULLY EQUIPPED RESTAURANT
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PROPERTY INFORMATION 1. Locality Property Address: Suburb & City: Local Authority: Province: Corner of Marble Street East and Government Square Marble Hall Greater Marble Hall Local Muncipality Limpopo 2. Legal Information Erf number(s): 97, 98, 99 and 102 Township: Greater Marble Hall Erf Extent: 1167m², 1189m², 1487m² and 1487m² Title Deed Number: T68520/2010 Registered Owner: BHADSHA PROP INV CC 3. Location Analysis 17
The property is located within the boundaries of the Greater Marble Hall Local Municipality, in the Limpopo Province. The subject property is situated within the CBD of Marble Hall. The property enjoys good exposure and is surrounded by similar commercial businesses. All surrounding properties are in a fair to average condition. There is good pedestrian and vehicle traffic passing the subject property. The property offers good access to main and secondary road links. Marble Street East and Government Square is one of the main roads through town, which is the link to Main Street which in the CBD. All municipal services and other services such as schools, churches, hospitals and emergency services are available within close proximity of the Marble Hall CBD. The rectangular shape stand is north facing onto Marble Street East Road and is relatively flat. GPS co-ordinates for the property are: -24.9693, 29.2963. 4. Property Description The property comprises of four buildings which straddle over four stands. Building 1 (877 m²) The Buffalo Inn Motel offers 35 rooms with a daily rate of R 250, 00 per night. Guests are provided with free covered parking and access to the swimming pool. External walling is plastered painted brick under zinc roof sheets. The room have wooden and ceramic tiled floors and built in cupboards and a basin with plastered walls. Ablutions facilities are available with a shower, bath, toilet and basin. There is also dining area, T.V. room and a fully equipped kitchen. All these areas have ceramic tiled floors with plastered walls. Building 2 (150 m²) The Buffalo Bar operates 7 days a week from 11 am until late. This building is divided into four areas, namely the bar, pool table area, dance floor and slots machine area. All these areas are fully tiled with plastered internal walls under zinc roof. Male and female ablution for the visitants. 18
Building 3 (166 m²) and 4 (185 m²) These are both residential dwellings with plastered external walls under zinc roof with tiled floors and painted internal walls. These dwellings have been let by the Private Operator to employees from the motel and bar, and an elderly couple. All improvements are fairly maintained and fitted with fair finishes and fittings. We have not undertaken a structural survey of the above-described improvements or finishes, nor have we arranged for tests or inspections to be carried out on any of the service installations. Garage (40 m²) Total GLA: 1418 m² 19
20 ANNEXURE A: TITLE DEED
ANNEXURE B: ZONING TO BE SUPPLIED SHORTLY. 21
NOTES 22
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