Property Information Pack Expert Knowledge Local Service. Global Reach. ESHOWE MALL, KWA-ZULU NATAL (ERF 1698, ESHOWE) LIVE PROPERTY AUCTION VENUE: DURBAN INTERNATIONAL CONVENTION CENTRE DATE: TUESDAY, 29TH OCTOBER 2015 TIME: 12H00
Eshowe Mall, Eshowe, KwaZulu Natal TABLE OF CONTENTS Property Summary... 1 Aerial Photography... 4 Photo Gallery... 6 Location... 8 Procedures for Purchasing at Auction... 9 Registration... 9 Bidding... 10 Post Auction... 10 SG Diagrams Zoning Certificate REV 1/23 SEPTEMBER 2015 Company Disclaimer: The information included herewith is a summary of information from a number of sources, most of which have not been independently verified and this summary does not purport to be comprehensive. This summary has been provided only for the use of prospective bidders. It is supplied for whatever assistance it may provide in answering questions and should any potential buyer undertake their own due diligence prior to the purchasing of any property. SUCH INFORMATION AND OPINIONS ARE SUPPLIED WITHOUT WARRANTIES OR REPRESENTATIONS, EITHER EXPRESSLY OR TACITLY IMPLIED, WHATSOEVER. Prospective bidders are advised to avail themselves of the land uses and or restrictions if any, of the property and to consult whatever advisors they may feel appropriate. The property for sale will be auctioned voetstoots, as it now stands and subject to the terms and conditions and servitudes mentioned and referred to in the current and/or prior Title Deeds and neither, nor the Substitute Trustees or their respective agents make any express or tacitly implied warranties of any kind. The description and conditions listed in this and other advertising materials are to be used as guidelines only and are not guaranteed. Acknowledgement: The Purchaser acknowledges that he/she has read this document and are aware of all the limitations, notifications and other information contained herein. Sign here:
Eshowe Mall, Eshowe, KwaZulu Natal 1 PROPERTY SUMMARY Property Address: 111 Osborne Road, Eshowe, Kwa-Zulu Natal Locality: The property is a neighbourhood shopping centre. Eshowe is a small rural town situated inland from the N2, approximately 136 kilometres from Durban and 80 kilometres from Richards Bay. The CBD of Eshowe acts as a shopping and service centre to the surrounding farming community and provides a base for the location of several government departments, which provide services to the surrounding rural areas. The CBD of Eshowe has seen some expansion over the last few years, with several notable developments having arisen, one being the development of a retail warehouse on the property adjoining the Eshowe Mall, which is currently occupied by Cashbuild and is part of this mall s rent roll. Co-ordinates: 28 53 28.767 S,31 28 15.847 E Property Description: Erf 1698, Eshowe, Registration Division GU, Province of KwaZulu-Natal Fully described on Title Deed No: T40316/2013
Eshowe Mall, Eshowe, KwaZulu Natal 2 Extent: 1.5395 ha GLA: 11 839m² Ownership: Accelerate Property Fund Limited Restrictive conditions/servitudes: The erf is the subject of a number of servitudes including a sewer and drain servitude 2m wide in favour of the Town Council of the Borough of Eshowe as per SG diagram 1759/1996 as well as a 2m wide servitude in favour of Eshowe Town Council as per SG diagram 1759/1996. The property is also subject to an expropriation of three portions by Transnet, the first 10 square meters in extent, the second 150 square meters in extent and the third 120 square meters in extent as per the diagram Expropriation No. 89/1978. The property is further subject to two a 2 square meter sewer servitude shown on SG diagram 1759/1996. These servitudes are not considered to have a negative influence on the existing buildings and are accordingly not considered to be detrimental to the Market Value of the buildings. Municipal Valuation: TBA Zoning Medium Impact Mixed Use Coverage 50% Height 2 storeys Floor area ratio 1.0 Property Details: The property comprises a neighbourhood shopping centre that is considered to be the largest in Eshowe. There are two levels, a lower ground floor with shops/offices and an upper ground floor with shops and parking areas. There is a parking lot on the lower ground floor. In total there are 47 shops/offices over 2 levels and the parking lot comprises approximately 214 parking bays. Anchor tenants include Pick n Pay, Truworths,
Eshowe Mall, Eshowe, KwaZulu Natal 3 Cashbuild, Mr Price, Spur, and Clicks. The centre is situated 136km from Durban and mainly serves the surrounding farming community. Parking Bays: ±214 bays Main tenants: Pick n Pay, Mr Price Apparel, Truworths Limited, Clicks, Cashbuild (SA) (Pty) Ltd, Department of Public Works, Spur, KwaZulu-Natal Department of Health and Milady s, Annual Gross Income (incl. recoveries): R9 669 946 (Period: November 2015 October 2016) Vacancy (% of area): 18,89% Rates & Taxes: TBA Property Notes: The property is sold voetstoots as it currently stands and is subject to the terms and conditions and servitudes mentioned in the current and/or prior Title Deeds as well as to the conditions specified within the zoning certificate. *FOR BUILDING PLANS, TITLE DEED AND PROJECTION INCOME AVAILABLE UPON REQUEST
Eshowe Mall, Eshowe, KwaZulu Natal 4 AERIAL PHOTOGRAPH
Eshowe Mall, Eshowe, KwaZulu Natal 5
Eshowe Mall, Eshowe, KwaZulu Natal 6 PHOTO GALLERY
Eshowe Mall, Eshowe, KwaZulu Natal 7
Eshowe Mall, Eshowe, KwaZulu Natal 8 LOCATION
Eshowe Mall, Eshowe, KwaZulu Natal 9 PROCEDURES FOR PURCHASING AT AUCTION Thank you for your interest on this auction! If you are unfamiliar with buying real estate at auction, here is an easy to follow set of instructions on how to participate: REGISTRATION 1. Upon arriving at the auction site seek out one of the members of the auction staff to find out where to register. 2. At the registration desk, you will be asked to fill out a registration form; you will receive your bid number for the auction. 3. Please remember to bring with, your ID book, a copy of your ID and Proof of Residence. Without these documents, you will not be allowed to bid at the auction. 4. This auction requires refundable deposit; payable by bank guaranteed cheque or EFT. THE REFUNDABLE DEPOSIT PAYABLE IN ORDER TO BID: - East Lynne Shopping Centre, Eshowe Mall and Glen Gables Shopping Centre - R100 000.00-7 Main Road, Melville & 14 Main Road, Melville - R50 000.00 5. Please make yourself aware and fully understand all documentation relating to the sale of this property prior to any bidding. The documentation and information to be read and understood include the following: Rules of Auction, Agreement of Sale, and Auction Notes. All of these documents can be found at www.go-dove.com/southafrica, from the auctioneer's office and at the auction itself. 6. Buyers must please note that the registrations for an onsite auction close 15 minutes prior to the start of the auction. 7. Buyers must further note that no registration will be accepted/completed should the buyer fail to provide the Auctioneer with the completed registration forms together with the supporting documents prior to the auction.
Eshowe Mall, Eshowe, KwaZulu Natal 10 BIDDING Bidding is a very simple process that can be accomplished through one of the following ways. The most important rule is to listen closely to the auctioneer. When the auctioneer is calling out bids to the crowd, you can increase your bid by: 1. Raising your bid card in the air, 2. Shouting your bid out to the auctioneer verbally, 3. Having one of the auction staff place your bid for you, or 4. Communicating a signal to the auctioneer that has been arranged prior to the auction. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. Announcements made from the podium at the time of the sale take precedence over all printed materials. If you have any questions at the auction about the property, procedures, or anything else, do not hesitate to ask. We will be happy to assist in any way we can. POST AUCTION Upon completion of the auction when the auctioneer says "SOLD", the winning bidder will immediately be required to sign the Agreement of Sale and post the 10% deposit as well as the commission of 8% plus VAT. At this time, instructions regarding closing of the sale will be thoroughly explained to you and any questions will be answered. If you have any additional questions, please direct them to any of the auction staff members present or call our offices at +27 (21) 702 3206. Things to Note: 1. All lots have a reserve price, if this price is not met on auction day, we will trade it out to the next highest bidder. 2. Whatever your bid amount is, a 8% buyers premium will be added and then VAT (If a SA Resident Company, please confirm details and conditions if a foreign company) 3. You may get further assistance/help at the following link: http://www.go-dove.com/help/default.asp.