Port Elizabeth Central Student Accommodation St Croix 10 Havelock Street Thursday, 26 June 2014 @ 12h00 The Maslow, Corner Grayston Drive & Rivonia Road Sandton Jonathan Aitken 082 453 1119 jonathana@aucor.com 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. Aucor Property may bid up to reserve on behalf of the sellers. Subject to change without notification. Auctioneer: Darren Winterstein
Index Property Information Locality Property Description Building Diagrams Cash-Flow Images Surveyor Diagram Zoning Lease Agreement In Use House Rules Auction Information Deposit Commission Confirmation period 5% of bid price 10% plus 14% VAT thereon of the bid price 2 Business Days Rules of auction and conditions of sale are available on www.aucorproperty.co.za/
Property Information General Property Address St Croix 10 Havelock Street Port Elizabeth Title Deed Information Title Deed Number T30539/2013 Registered Owner Aengus Inv Prop Pty Ltd Title Deed Description Erf 2582 Port Elizabeth Central, Eastern Cape Registered Land Size 535m² Municipal Information Municipality Assessment Rates Nelson Mandela Bay Metropolitan Municipality R 6,717.87/month (2013/14 period) - please note that the Seller has indicated that they have lodged an objection to the current assessment rates. Zoning RES3A see attached
Locality GPS co-ordinates for the site is as follows: S 33 57'43.69"; E 25 37'05.35" The property is situated in Port Elizabeth Central which is an established neighbourhood of the City of Port Elizabeth with various tertiary institutions located in the general area. All major amenities and services are situated nearby.
Property Description Primary Uses Accommodation Student Accommodation 25 bedrooms (including 3 outside rooms) and 4 bathrooms Asset Register As supplied by Seller inventory dated 17 April 2014 Fridges 3 Stoves 3 Bed base 24 Mattress 29 Chairs 36 Cupboards 2 Curtains 34 Lounge suites (leather) 2 Bedside tables 27 Book shelves 0 Study Lamps 14 T elevision 1 DSTV Decoder 1 Desks 16 Microwave 1
Property Description Approximate Boundaries Source: Nelson Mandela Bay Metropolitan Municipality GIS Building Areas Approximate building areas based on plans supplied see overleaf Floor GBA ±m² Ground Floor 298 1st Floor 326 Total 624
Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Income - 66 495.00 82 770.00 65 100.00 65 100.00 65 100.00 65 100.00 65 100.00 65 100.00 65 100.00 65 100.00-670 065.00 1000001 Residential Rent 48 825.00 65 100.00 65 100.00 65 100.00 65 100.00 65 100.00 65 100.00 65 100.00 65 100.00 65 100.00 634 725.00 1002001 Lease Fees 17 670.00 17 670.00 35 340.00 Operating Costs 16 968.74 19 817.35 21 898.65 24 563.59 24 563.59 24 563.59 24 563.59 24 563.59 24 563.59 24 563.59 24 563.59 16 968.74 272 162.16 2001001 Bank Charges 75.00 72.12 129.81 146.35 146.35 146.35 146.35 146.35 146.35 146.35 146.35 75.00 1 522.71 2002001 Cleaning 377.86 377.86 377.86 377.86 377.86 377.86 377.86 377.86 377.86 377.86 377.86 377.86 4 534.29 2023001 DSTV Subscription 761.75 761.75 761.75 761.75 761.75 761.75 761.75 761.75 761.75 761.75 761.75 761.75 9 141.00 2003001 Electricity 2 500.00 3 177.50 5 719.50 5 719.50 5 719.50 5 719.50 5 719.50 5 719.50 5 719.50 5 719.50 5 719.50 2 500.00 59 653.00 2004001 Fire Service 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 2 400.00 2005001 Insurance 458.55 458.55 458.55 458.55 458.55 458.55 458.55 458.55 458.55 458.55 458.55 458.55 5 502.60 2006001 Internet - 837.00 837.00 930.00 930.00 930.00 930.00 930.00 930.00 930.00 930.00-9 114.00 2007001 Rates Assesment 2 500.00 2 500.00 2 500.00 2 500.00 2 500.00 2 500.00 2 500.00 2 500.00 2 500.00 2 500.00 2 500.00 2 500.00 30 000.00 2010001 Maint Gen Suppl 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 6 000.00 2014001 Refuse 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 960.00 2015001 Security 6 000.00 6 000.00 6 000.00 6 000.00 6 000.00 6 000.00 6 000.00 6 000.00 6 000.00 6 000.00 6 000.00 6 000.00 72 000.00 2016001 Sewerage 500.00 837.00 1 506.60 1 674.00 1 674.00 1 674.00 1 674.00 1 674.00 1 674.00 1 674.00 1 674.00 500.00 16 735.60 2018001 Water Residential 200.00 1 200.00 12.00 2 400.00 2 400.00 2 400.00 2 400.00 2 400.00 2 400.00 2 400.00 2 400.00 200.00 20 812.00 2020001 Salaries 2 615.58 2 615.58 2 615.58 2 615.58 2 615.58 2 615.58 2 615.58 2 615.58 2 615.58 2 615.58 2 615.58 2 615.58 31 386.96 2021001 San & Pest Control 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 2 400.00 TOTAL Student Accommodation St Croix Cash-Flow Based on budget supplied by Seller Seller guarantees an 11% yield (net income of Purchase Price) for a period of 2 years with an escalation of 8% in the second year. Current tenancy is at R2,100 per bed per month PROFIT / (LOSS) {Pre-finance) (16 968.74) 46 677.65 60 871.35 40 536.41 40 536.41 40 536.41 40 536.41 40 536.41 40 536.41 40 536.41 40 536.41 (16 968.74) 397 902.84
Surveyor Diagram
Zoning
Lease Agreement In Use
Lease Agreement In Use
Lease Agreement In Use
Lease Agreement In Use
Lease Agreement In Use
Lease Agreement In Use
House Rules
House Rules
House Rules