LIGHT INDUSTRIAL WORKSHOP AND OFFICES Ideal for an Owner ... · Roof: Interlock clay roof tiles and ceiling boards. External Walls: Face brick Internal Walls: Brickwork, plastered

LENASIA PROPERTY AUCTION

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. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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LIGHT INDUSTRIAL WORKSHOP AND OFFICES

Ideal for an Owner Occupier!

13 Rabie Street l Vanderbijlpark CE 6

PROPERTY ON AUCTION

WH Auctioneers Properties (PTY)

Ltd

578 16th Road, Randjespark,

Midrand

Tel: 0115745700

www.whauctions.com

Auction Date & Time: Thursday, 13 October 2016 – 11H00

Venue: ON SITE – 13 Rabie Street, Vanderbijlpark CE 6

Auctioneers: Tim Varenzakis

Contact for further info:

Daniel Pelkowitz Cell: 072 360 7510 • Email: [email protected]

Sections 1 and 2 of Scheme Nevada 1351/1996, Vanderbijlpark CE 6 Ext 2

Workshop and Offices – Vanderbijlpark



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Index

1. Directions to the Property Page 3

2. Guidelines for the Auction Page 4

3. General Page 5

4. Title Deed Information Page 5

5. Locality Page 5

6. Description of Improvements Page 6

7. Financial Information Page 8

8. Site Photographs Page 9

9. Municipals & Levy Statements Page 11

10. Building Layout Page 15

11. Lease Agreement Page 16




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1. DIRECTIONS TO THE PROPERTY

Directions from Linksfield Onramp onto the N3

Get on N3 Eastern Bypass/N3

Take Sybrand Van Niekerk Fwy/R59 to Barrage Rd/R42 in Vereeniging. Take exit 2 from Sybrand

Van Niekerk Fwy/R59

Follow Barrage Rd/R42 to Rabie St inVanderbijlpark




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2. GUIDELINES FOR THE AUCTION

Auction Date & Venue: Thursday, 13 October 2016 @ 11am at 13 Rabie Street Vanderbijlpark (ON SITE). Registration: Bidders can register at any time prior to auction or from 10 am to 11 am on auction day at the

above mentioned venue. Identity and FICA documents are required in order to register for the auction. All potential buyers are required to pay a registration fee of R25 000 in order to bid at the auction. This amount

can be paid either by bank guaranteed cheque or EFT into the Auctioneer’s trust account. Cash will NOT be accepted at the venue.

Once registered each buyer will be issued with a buyer’s card reflecting a buyer’s number. Upon signature of the registration documents, all buyers will have acknowledged and accept the Terms and Conditions set out in the Rules of Auction. Registration Fee: R25 000.00 (Refundable to unsuccessful bidders) Deposit: 21.4% of hammer price Confirmation period: 7 business days.

Balance of the purchase price payable within 21 business days after confirmation of sale and delivery of the sale agreement to WH Head Office – 578 16th Road, Randjespark Midrand. The bid price excludes the buyer’s premium which is payable over and above the purchase price.

Example: Highest bid with buyer’s premium

Bid Price: R 100 000.00 Buyers comm (10%) R 10 000.00 on the Buyer’s Premium R 1,400.00 Total Purchase Price R 111 400.00

The auctioneers have the right to regulate the bidding at the auction and to bid on behalf of the seller up to (but not exceeding) the reserve price as mandated by the seller. When the auctioneer knocks down the property to the highest bidder the successful bidder will sign the Conditions of Sale on the day. A deposit of 21.4% is payable on the fall of the hammer. This percentage is made up of the commission payable by the successful bidder of 10% plus VAT (namely, 11.4%) plus a 10% deposit on the purchase price of the Property.

The deposit is payable by way of a Bank Guaranteed cheque or electronic transfer. The deposit and buyer’s premium are deposited into the WH Auctioneers Trust account. For queries regarding the properties on auction contact:

Daniel Pelkowitz: 072 360 7510 Joshua Pelkowitz: 072 536 5482 WH Auctioneers offices: 011 574 5700




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3. GENERAL

Property Address: 13 Rabie Street, Vanderbijlpark CE 8 Erf & Suburb & City: Sections 1 and 2 of Scheme Nevada 1351/1996, Vanderbijlpark CE 6 Ext. 2

4. TITLE DEED INFORMATION

Deeds Office: Pretoria Title Deed No. ST31360/2006 Erf Size: Section 1 – 353m2 Section 2 – 165m2 excluding a large covered backyard approximately 140m2

Total - 518m2

Zoning: Industrial 3

5. LOCALITY

The property is located in Vanderbijlpark. Vanderbijlpark is an industrial city located on the Vaal River in the

south of Gauteng. Vanderbijlpark is home to Vanderbijlpark Steel (previously part of ISCOR) which is part of the

global company ArcelorMittal. With neighbouring towns Vereeniging and Sasolburg it forms the Vaal Triangle, a

major industrial region of South Africa. It is located in the district municipality of Sedibeng and the local

municipality of Emfuleni. Vanderbijlpark is also home to Cape Gate (Pty) Ltd, a major market shareholder in the

wire industry.

The property is located in Rabie Street which is categorised by light industrial warehousing and mini factory

sectional title schemes. The property is in close proximity to major arterial routes including the R59 and R57.




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The GPS Co-ordinates of the property are as follows:

S – 26˚70’66.4”

E – 27˚85’52.9”

6. DESCRIPTION OF IMPROVEMENTS

The subject property comprises workshop and space. The property measures approximately 518m2 which excludes an IBR workshop built by the owner measuring approximately 140m2 forming part of section 2. The property is occupied by 2 tenants. One tenant operates as a church while the other is a car workshop and administration offices. The office section which forms part of section 2 is currently occupied by the tenants from section 1. Section 1 – Workshop and Offices

Section 1 is occupied by a tenant operating a motor vehicle workshop. The unit comprises a reception area, 3 offices, ablutions and kitchen facilities. As previously mentioned, the tenant utilises the office space from section 2 of the scheme. The total size of this section is approximately 353m2. The external walls are face brick while internal walls are plastered and painted brickwork as well as prefab walling. Office floors comprise ceramic tiles while the workshop floor is floated concrete. The roof is comprised of interlocking clay tiles upon wooden roof trusses. Entrance to the warehouse can be gained through the reception and office areas as well as through 2 roller shutter doors.

The rental for this portion as per the lease agreement is R20 000 per month however, the owner reduced this figure to R15 000 per month for a period of time in order to assist the tenant. The lease expires at the end of December 2016. See lease agreement below.




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Section 2 – Church

The church occupies an area of approximately 80m2 to 100m2. There is an administration office as well as an ablution and kitchen area. Floor comprise ceramic tiles while the internal walls are plastered and painted brickwork. The ceiling as well as the wall at the far end of the unit comprise laminated cardboard. There is access at the back on the unit to a storeroom/warehouse which is comprised of IBR sheeting which was erected by the owners. As per information received by the owners, the current monthly rental is R8000 however the tenant will be vacating the premises at the end of September 2016.

Parking Lot

There is street front parking in-front of property as well as a small parking lot within the boundaries of the

property. There is also a small yard at the back of the building. The property is secured by 24-hour off site

security, palisade fencing as well as a motorised gate

Site Access

Access is gained to the site via the main access gate on Rabie Street.

Summary

Roof: Interlock clay roof tiles and ceiling boards.

External Walls: Face brick

Internal Walls: Brickwork, plastered and painted/Dry walling.

External Floors: Tiles/Concrete screed/Paved walkways/Brick paving

Internal floors: Tiled/PVC Tiling/Concrete

Condition: The building appears to be in a fair condition. A structural and roof inspection has not

been conducted however, based on information obtained from the sellers, there are

no material structural or roof related defects.




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7. FINANCIAL INFORMATION

The owners have not provided rent rolls for the property however, in terms of information provided, current monthly rental is R23 000 per month. It must be noted however that the church occupying section 2 will be

moving out at the end of September 2016 and a replacement tenant has not as yet been found. Each tenant has a pre-paid electricity meter. Water charges are included in the monthly levies. As per information received from the owners, a special levy has been introduced for the installation of new water meters which once installed will reduce the overall monthly levy charges. Monthly Levies for both units: R5 196 Special Levies for both units: R2 295 Participation Quota for Section 1: 23.07 Participation Quota for Section 2: 10.97 Owners have not been able to provide the exact monthly expenditure figures however, based on information received as well as market indicators for similar properties, it will be assumed that monthly expenses are 25% of gross monthly income.




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8. SITE PHOTOGRAPHS




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9. MUNICIPAL ACCOUNTS/LEVY STATEMENTS




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10. BUILDING LAYOUT




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11. LEASE AGREEMENT




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Documents

LIGHT INDUSTRIAL WORKSHOP AND OFFICES Ideal for an Owner ... · Roof: Interlock clay roof tiles and ceiling boards. External Walls: Face brick Internal Walls: Brickwork, plastered