Marshalls Town - Jhb 2 x Landmark Buildings Gandhi Square High Court Building & Somerset House - Corner Fox, Joubert and New Streets Tuesday, 12 November 2013 @ 12h00 The Hyatt Hotel, 191 Oxford Road Rosebank 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 Tenancy Images Surveyor General Diagram Zoning Rates Auction Information Deposit Commission Confirmation period 5% of bid price 10% plus 14% VAT thereon of the bid price 2 Days Rules of auction and conditions of sale are available on www.aucor.com
Property Information General Property Address High Court Building & Somerset House Corner Fox, Joubert and New Streets Title Deed Information Title Deed Numbers Erven 983 & 988 - T7024/1944 Erf 987 - T4186/1930 Erf 1020 - T4186/1930 Property Description Erven 983, 987, 988 & 1020 Marshalls Town, City of Johannesburg Registered Owner Somerset House Pty Ltd Stand Sizes Erf 983-272m² Erf 987-272m² Erf 988-272m² Erf 1020-272m² Total - 1,088m² Municipal Information Municipality City of Johannesburg Zoning Business 1 FAR 5.9 6,419m² Height Zone 1 (As per clause 45.2) Coverage 100% Building Lines Parking 1,5m in respect of ground storey only As per scheme Buildings were developed long before the implementation of the Johannesburg town planning scheme. Property assessment rates (excluding consumption and additional levies) based on municipal valuation and tariffs published on www.joburg.org.za (subject to change) 2013 Valuation Roll 2013/14 Tariff Annual Assessment Rates Monthly Assessment Rates R 15 600 000 0.017604 R 274 622.40 R 22 885.20
Locality The subject site is situated adjacent Gandhi Square on the corner of Corner Fox, Joubert and New Streets in Marshalls Town, Johannesburg. Marshalls Town is a well-known and well-established suburb of Johannesburg CBD and is characterised by various large commercial and high-rise buildings. Gandhi Square is a central connection hub for Johannesburg s Bus Rapid Transport system.. Marshalls Town is well served by an established road network with the M1/M2 Highways easily accessible via a number of roads. All relevant services, including municipal electricity and sewerage disposal have been installed and are regarded as adequate and reliable. Services are provided by the Greater Johannesburg Metropolitan Council. Firefighting, police and medical services are all available within the general area from the subject property. GPS co-ordinates for the site is as follows: S 26 12'22.29"; E 28 02'35.31"
Property Description Description of Improvements Approximate boundaries (Joburg GIS) Buildings Areas (Approximate Gross Building Area GBA - based on aerial and additional on-site measurements; Lettable Area as supplied): Lettable Area (as supplied) Component ±m² Shops 559 Office 1200 Total Approx. GLA 1759 High Court Building GBA (onsite & aerial measurements) Component ±m² Ground Floor 490 4 x Office Floors 1960 Total Approx. GBA 2450 Somerset House GBA (onsite & aerial measurements) Component ±m² Ground Floor 536 2nd Floor (atrium deducted) 452 3rd Floor (atrium deducted) 260 Total Approx. GBA 1248
Property Description Description of Improvements High Court Building Primary Use Retail and Business/Office Building Storeys 5 External Walls Internal Walls Floors Elevator Condition Heritage Accommodation Styled concrete Mostly painted plaster A combination of flooring types 1 x passenger elevator (2 x shafts) The property requires some repairs and maintenance. Please note that we have not undertaken a structural survey nor arranged for tests or inspections of the service installations. Note that the building older than 60 years and thus is subject to the provincial heritage resources authority. The subject property comprises a retail ground floor with the remainder of the building comprising office units. The ground floor comprises 6 shops (including a bottle store) and a foyer leading to the office floors. The rear court yard of the building further hosts additional ablutions and stores. The office floors comprise 66 offices (of various sizes and configurations). ablutions. 1 st floor 18 x offices 2 nd floor 16 x offices 3 rd floor 16 x offices (one tenant occupies 7 offices) 4 th floor 16 x offices Each floor further hosts
Property Description Somerset House Primary Use Retail/Apartments/Stores Storeys 2 / 3 External Walls Internal Walls Floors Elevator Condition Heritage Accommodation Styled painted concrete Mostly painted plaster A combination of flooring types 1 x passenger elevator (out of service) The property requires some repairs and maintenance. Please note that we have not undertaken a structural survey nor arranged for tests or inspections of the service installations. Note that the building older than 60 years and thus is subject to the provincial heritage resources authority. The ground floor hosts a restaurant and retail shop on the New Street (Gandhi Square) side of the building and an entrance atrium and kitchen/stores on the Fox Street side. The first floor comprises 3 multi-roomed apartments, 4 store rooms and additional ablutions. The 2 nd floor hosts 2 bachelor apartments, kitchen area and 4 stores
Tenancy High Court Building We have been provided with the following tenancy information (excluding VAT where applicable - subject to change).
Tenancy High Court Building
Tenancy High Court Building
Tenancy High Court Building
Tenancy High Court Building Rentals are mostly monthly or expired leases except for the following (copy of leases available upon request): Lease Summary Dr LA Mensah (Shop with basement/liquor Store High Court Building) Commencement Date 1 May 2012 Expiry date 31 April 2015 Recoveries Electricity, water, refuse and proportional increase in rates Escalation rate 8% Current Rental R11,556.00 per month plus VAT
Tenancy Somerset House
Tenancy Somerset House Rentals are mostly monthly or expired leases except for the following (copy of leases available upon request): Lease Summary Jozi Square (Restaurant Somerset House) Commencement Date 1 July 2013 Expiry date 30 June 2015 Recoveries Electricity, water, refuse and proportional increase in rates Escalation rate 10% Current Rental R7,250.00 per month plus VAT Lease Summary Eyasu Trading CC (Clothing Shop - Somerset House) Commencement Date 1 January 2011 Expiry date 31 December 2014 Recoveries Electricity, water, refuse and proportional increase in rates Escalation rate n/a Current Rental R5,857.50 per month plus VAT until end of lease
Tenancy Gross Income (September 2013) High Court Building - R 98,524.38 Somerset House - R 32,386.16 Total - R 130,910.54
Images
Surveyor Diagrams
Surveyor Diagrams
Zoning
Zoning
Rates
Rates
Rates
Rates