8 Ha DEVELOPMENT LAND OFF the MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST

± 8 Ha DEVELOPMENT LAND OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST

WEB#: AUCT-000698 | www.in2assets.com MASTERS REFERENCE: Lungomare (Pty) Ltd (in Liquidation), Masters Ref No: N142/2012 ADDRESS: Off the Mtwalume (West) Main Road, KZN South Coast AUCTION VENUE: The Durban Country Club, Isaiah Ntshangase Road, Durban AUCTION DATE & TIME: 25 July 2018 | 11h00 VIEWING: By Appointment CONTACT: Virend Deonarain | 071 383 1735 | 031 574 7600 | [email protected] REGISTRATION FEE: R 50 000-00 (Refundable Bank Guaranteed Cheque) AUCTIONEER: Andrew Miller

CONTENTS OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST 1318 Old North Coast Road, Avoca

CPA LETTER 2

PROPERTY DESCRIPTION 3

PROPERTY LOCATION 4

PICTURE GALLERY 5

ADDITIONAL INFORMATION 7

TERMS AND CONDITIONS 8

SG DIAGRAM 9

ZONING CERTIFICATE 11

TITLE DEED 13

RULES OF AUCTION & CONDITIONS OF SALE 18

DISCLAIMER: Whilst all reasonable care has been taken to provide accurate information, neither In2assets Properties (Pty) Ltd nor the Seller/s guarantee the correctness of the information, provided herein and neither 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 provided, whether due to the negligence or otherwise of In2assets Properties (Pty) Ltd or the Sellers or any other person. The Consumer Protection Regulations as well as the Rules of Auction can be viewed at www.In2assets.com or at Unit 504, 5th Floor, Strauss Daly Place, 41 Richefond Circle, Ridgeside Office Park, Umhlanga Ridge. Bidders must register to bid and provide original proof of identity and residence on registration.

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CPA LETTER OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST

1318 Old North Coast Road, Avoca

In2Assets would like to offer you, our valued client, the opportunity to pre-register as a bidder prior to the auction day.

South African consumers are now amongst the best protected consumers in the world and the purpose of the Act is to promote fair business practices and to protect consumers against deceptive, misleading, unfair or fraudulent conduct.

It is compulsory that all Bidders are required to present the following documentation in order to register at our auctions (without which registration cannot take place):

1. SA Identity Document;

2. Utility bill addressed to your physical address (not older than 3 months);

3. In the event of you bidding on behalf of a company, trust or close corporation in your capacity as director, trustee or member respectively, you are required to submit a letter on the Entity’s official letterhead authorizing you to bid, sign all necessary documents and effect transfer on behalf of the Entity which must be accompanied by a certified copy of the resolution by the directors, trustees or members of the entity authorizing you to do so.

4. A special Power of Attorney is required should you be bidding on behalf of another person which must expressly authorize you to bid on behalf of that person and must include a certified copy of that person’s SA Identity Document and proof of that person’s residential address not being older than 3 months.

5. Copy of Entity’s FICA Documents

6. Vat Registration Certificate

7. Income Tax Reference Number and proof of marital status

We would like to offer you an opportunity to register prior to the auction in order to avoid the time-consuming registration process as we endeavor to make this process as hassle free and efficient as possible.

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OFF THE MTWALUME (WEST) PROPERTY MAIN ROAD, KZN SOUTH COAST 1318DESCRIPTION Old North Coast Road, Avoca

General

Property Address: Farm Newton Wolds, Off the Mtwalume (West) Main Road,

Township & Province: KZN South Coast, KwaZulu-Natal

Title deed information

Title Deed Number: T66611/2002

Title Deed Description: Portion 160 of the Farm Newton Wolds No. 6371

Registered Owner: Lungomare (Pty) Ltd (In Liquidation)

Extent: 8, 0437 Hectares

Note: The registered extent for the property is 8, 0666 hectares as per the Title Deed. A portion in the extent of 0, 0229 hectares has been expropriated. For purposes of this Sale the correct extent of the property being sold is 8, 0437 hectares.

Municipal information

The local authority in which the property is situated is Umdoni Municipality. According to the permitted zoning scheme the property is zoned as follows:

Town Planning Information

Zoning: Resort 2

F.A.R: 0.25

Coverage: 25%

Building Lines: 7.5m

Side: 4.5m

Rear: 4.5m

Max Permitted Height: 2 Storeys

Parking: Depends on use

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PROPERTY OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST 1318LOCATION Old North Coast Road, Avoca

Mtwalume is located some 85 kilometres south of Durban and approximately 35 kilometres north of Port Shepstone. Mtwalume is one of the small towns that make up a string of quieter seaside holiday towns on the KwaZulu-Natal South Coast.

Towns in close proximity are Elysium, Ifafa, Bazley and Pennington to the north and Hibberdene, Umzumbe, Phumula and Banana Beach to the south. Many developments have taken place over the last 3-6 years on the greater south coast of Kwazulu – Natal.

The property is set adjacent to the N2 Freeway upon a raised ridge of Mtwalume. The immediate area is a mixture of single residential homes and residential sectional title developments.

Desired amenities are offered by Mtwalume or the neighbouring suburbs. The nearby coastal region of Hibberdene and Pennington are popular holiday destination and provide for most amenities.

10 COROBRIK PLACE, PICT SUBJECT PROPERTY: Portion 160 of the Farm Newton Wolds No. 6371RIVERHORSE, Mtwalume VALLEY

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PICTURE OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST 1318GALLERY Old North Coast Road, Avoca

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PICTURE OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST 1318GALLERY Old North Coast Road, Avoca (Continued)

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ADDITIONAL OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST 1318INFORMATION Old North Coast Road, Avoca

Primary use

Amanzimtoti, Illovo and Kingsburgh which are positioned approximately 25 minutes north will experience an exceptional level of growth over the coming years, and this growth is then expected to spread further south to the city of Port Shepstone. For these areas (Amanzimtoti, Illovo and Kingsburgh), the national government has cemented its commitment to development, with the most recent announcement of a R11 billion KZN Automotive Supplier Park. Dube Tradeport has already bought 1000 Hectares in Illovo for the proposed KZN Automotive Supplier Park. This shows that the growth has already begun.

This 8,0437 Hectares development land is positioned adjacent to the N2 Freeway and approximately 40 minutes south from Durban. The development of units on this site will complement the existing demand in the area. Development on the highest peak of the site will provide views of the nearby lagoon. Mtwalume is one of the small towns that make up a string of quieter seaside holiday towns and its beach is well known for fishing and surfing.

The site has permitted uses for Caravan Park, Holiday Dwelling, Chalets, Private Recreation Area, Private Conservation Area, Recreational Building, Restaurant, Shop and Single Family Dwelling to name a few.

Property is subject to various Servitudes as per the SG Diagram and Title Deed.

Lease Details

The property comprises vacant development land.

Expenses

The assessment rates for the year 2017/2018 amounts to R 26 255.04, which equates to a monthly figure of R 2 187.92.

NB: Kindly note the above rates figures are for the month of June 2018. It should be noted that the annual increase takes place on the 01 July 2018 and the Municipality is unable to provide us with the increased amount for the current period 2018/2019.

Vat Status

The Seller is Vat Registered – Vat will be payable at the rate of 15%.

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TERMS & OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST 1318CONDITIONS Old North Coast Road, Avoca

If you are the successful bidder kindly note the following:

 5% deposit payable by the Purchaser on the fall of the hammer  10% Auctioneers Commission plus 15 % Vat payable by the Purchaser on the fall of the hammer  14 days Confirmation period – 08 August 2018 @ 17h00  45 Day Guarantee Period  Possession on Registration of Transfer

Kindly note for EFT & Cheque payments, the following applies:

Cheques need to be made out to In2assets Properties (Pty) Ltd

EFT Payments, our trust account banking details are as follows:

Bank : Standard Bank Account Name : In2assets Properties (Pty) Ltd Account No. : 050022032 Branch Name : Kingsmead Branch code : 040026 OFF THE MR385 MAIN ROAD / MTHOKO MKHIZE ROAD, HAMMARSDALE

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SG DIAGRAM OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST 1318 Old North Coast Road, Avoca

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SG DIAGRAM OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST

1318(Continued) Old North Coast Road, Avoca

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ZONING OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST 1318CERTIFICATE Old North Coast Road, Avoca

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ZONING OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST 1318CERTIFICATE Old North Coast Road, Avoca

(Continued)

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TITLE DEED OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST

1318 Old North Coast Road, Avoca

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TITLE DEED OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST

1318(Continued) Old North Coast Road, Avoca

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TITLE DEED OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST

1318(Continued) Old North Coast Road, Avoca

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TITLE DEED OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST

1318(Continued) Old North Coast Road, Avoca

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TITLE DEED OFF THE MTWALUME (WEST) MAIN ROAD, KZN SOUTH COAST

1318(Continued) Old North Coast Road, Avoca

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