Mini Factories Sections 1, 3 & 4 Jetgirl Park, 6 Torlage

MINI FACTORIES SECTIONS 1, 3 & 4 JETGIRL PARK, 6 TORLAGE STREET, NEW GERMANY

WEB#: AUCT-000689 | www.in2assets.com ADDRESS: Sections 1, 3 & 4 Jetgirl Park, 6 Torlage Street, New Germany AUCTION VENUE: The Durban Country Club, Isaiah Ntshangase Road, Durban AUCTION DATE & TIME: 20 June 2018 | 11h00 VIEWING: 6 June 2018 | 14h00 – 15h00 CONTACT: Carl Kleinhans | 082 467 5664 | 031 574 7600 | [email protected] REGISTRATION FEE: R 50 000-00 (Refundable Bank Guaranteed Cheque) AUCTIONEER: Andrew Miller

CONTENTS SECTIONS 1, 3 & 4 JETGIRL PARK, 6 TORLAGE STREET, NEW GERMANY 1318 Old North Coast Road, Avoca

CPA LETTER 2

PROPERTY DESCRIPTION 3

PROPERTY LOCATION 5

PICTURE GALLERY 6

ADDITIONAL INFORMATION 10

TERMS AND CONDITIONS 12

ZONING CERTIFICATE 14

SECTIONAL TITLE PLANS 15

CONDUCT RULES 21

LEASE AGREEMENTS 25

TITLE DEEDS 45

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 SECTIONS 1, 3 & 4 JETGIRL PARK, 6 TORLAGE STREET, NEW GERMANY 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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SECTIONS 1, 3 & 4 JETGIRL PARK, PROPERTY 6 TORLAGE STREET, NEW GERMANY 1318DESCRIPTION Old North Coast Road, Avoca

General

Property Address: Sections 1, 3 & 4 Jetgirl Park, 6 Torlage Street Township & Province: New Germany, KwaZulu Natal

Title Deed Information – Property 1

Title Deed Number: ST42095/2014 Section Number & Scheme Name: Section 1 SS Jetgirl Park Scheme Number/Year: 298/2006 Registered Owner: K Z N Timbers and Ceilings CC Extent: 422 m²

Title Deed Information – Property 2

Title Deed Number: ST22769/2006 Section Number & Scheme Name: Section 3 SS Jetgirl Park Scheme Number/Year: 298/2006 Registered Owner: K Z N Timbers and Ceilings CC Extent: 193 m²

Title Deed Information – Property 3

Title Deed Number: ST1755/2014 Section Number & Scheme Name: Section 4 SS Jetgirl Park Scheme Number/Year: 298/2006 Registered Owner: K Z N Timbers and Ceilings CC Extent: 193 m²

All Erected On: The Remainder of Portion 8 of Erf 132 New Germany

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SECTIONS 1, 3 & 4 JETGIRL PARK, PROPERTY 6 TORLAGE STREET, NEW GERMANY 1318DESCRIPTION Old North Coast Road, Avoca (Continued)

Municipal information

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

Town Planning Information

Zoning: Light Industry F.A.R: 1.4 Coverage: 70% Height: 6 Storeys Building Lines: 7.5m Side: 3.0m Rear: 3.0m Parking: Depends on use

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SECTIONS 1, 3 & 4 JETGIRL PARK, PROPERTY 6 TORLAGE STREET, NEW GERMANY 1318LOCATION Old North Coast Road, Avoca

Jetgirl Park is positioned on Torlage Street which is on the north eastern border of the New Germany Industrial node. This node is set north of the Pinetown Central Business District. New Germany is a large industrial area which comprises a few suburbs within, such as Pineside, North Industria and Falcon Industrial Park. This node is set north of the M13 Metropolitan Road and the N3 National Freeway, however is bisected by the M19. Easy access to the property is obtained via the M19 Freeway which is approximately 1 km south of the property. The property is in close proximity to the newly announced C3 Corridor Project. The C3 Corridor is a section of transport infrastructure from the north of the city to Pinetown incorporating the Integrated Rapid Public Transport Network (IRPTN) that will link major residential areas. It is anticipated that after approval of the land use strategy for the C3 Corridor that developers will no longer need to apply for rezoning for any development along the corridor. There will be no fee or waiting period and no objection or appeal (Source: Highway Mail)

The neighbourhood is well established and comprises a mix of large scale industrial premises, light industrial, showroom and retail properties. The upmarket residential suburbs of Cowies Hill and Westville are to the east, whilst the middle income residential suburbs are directly north. The node is fully developed. The Pinetown city centre separates the subject industrial node from the Westmead industrial node, just west of the city. Both industrial locations are highly sought after and are considered prime industrial land within the eThekweni Municipality. All modern amenities and public services are located in Pinetown Central.

SUBJECT SCHEME: Jetgirl Park, 6 Torlage Street, New Germany

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SECTIONS 1, 3 & 4 JETGIRL PARK, PICTURE 6 TORLAGE STREET, NEW GERMANY 1318GALLERY Old North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, PICTURE 6 TORLAGE STREET, NEW GERMANY 1318GALLERY Old North Coast Road, Avoca (Continued)

Section 1 Jetgirl Park, 6 Torlage Street, New Germany

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SECTIONS 1, 3 & 4 JETGIRL PARK, PICTURE 6 TORLAGE STREET, NEW GERMANY 1318GALLERY Old North Coast Road, Avoca (Continued)

Section 3 Jetgirl Park, 6 Torlage Street, New Germany

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SECTIONS 1, 3 & 4 JETGIRL PARK, PICTURE 6 TORLAGE STREET, NEW GERMANY 1318GALLERY Old North Coast Road, Avoca (Continued)

Section 4 Jetgirl Park, 6 Torlage Street, New Germany

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SECTIONS 1, 3 & 4 JETGIRL PARK, ADDITIONAL 6 TORLAGE STREET, NEW GERMANY 1318INFORMATION Old North Coast Road, Avoca

Primary use

Jetgirl Park comprises of 9 industrial mini-factory Sections positioned within New Germany Industrial Park. This industrial node boasts a mix of properties including industrial warehouses with office facilities and sectional title mini-factories. Jetgirl Park is accessed off Torlage Street via automated gates onto a hard concrete driveway. The complex if fully fenced and has 24 hour security.

Section 1 (422 m²)

This mini-factory Section is accessed via a roller shutter door of approximately 5m as well as from a pedestrian door. It has good height internally with a mezzanine office level. The mezzanine level comprises of 3 individual offices, an open plan office, a kitchen and ablution facilities. The Section is sold vacant and will suit either an investor or end-user. There are 2 storage rooms and staff showers positioned adjacent to Section 1, which are for Section 1’s exclusive use. There are 10 parking bays allocated to Section 1.

Section 3 (193 m²)

This mini-factory Section is accessed via a roller shutter door of approximately 5m from the driveway. It comprises of a mezzanine office level with very neat and modern offices, open plan offices, a kitchen and ablution facilities. Various store rooms are above the mezzanine office level. The Section is tenanted. There are 3 parking bays allocated to Section 3.

Section 4 (193 m²)

This mini-factory Section is accessed via a roller shutter door of approximately 5m from the driveway. It comprises of a mezzanine office level which is accessed from the mezzanine office level of Section 3. The mezzanine level of Section 4 comprises a modern executive office, board room with kitchenette and ablution facility. Various store rooms are above the mezzanine office level. The mini factory further comprises of staff ablutions, change room and store room. This Section is tenanted. There are 3 parking bays allocated to Section 4.

NOTE: Section 3 and 4 are leased by the same tenant for a period of 8 months with an option to renew for a further 6 months. The mezzanine levels are currently joined however the tenant will restore this, when his lease expires.

All CCTV cameras & air conditioners are specifically excluded from this sale.

Accommodation Details

As per the Sectional Plan, the Gross Lettable Areas are as follows:

Section 1 422 m² Section 3 193 m² Section 4 193 m² 808 m²

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SECTIONS 1, 3 & 4 JETGIRL PARK, ADDITIONAL 6 TORLAGE STREET, NEW GERMANY 1318INFORMATION Old North Coast Road, Avoca (Continued)

Lease Details

Section 1 is currently vacant and will be sold with vacant occupation.

Section 3 & Section 4

Monthly Rental Annual Rental No. of Parking Unit No. Tenant Name Lease Term (Excluding Vat) (Excluding Vat) Bays 3 Green Money Trading 01 June 2018 - 31 Jan 2019 R 8 000.00 R 96 000.00 3 4 Green Money Trading 01 June 2018 - 31 Jan 2019 R 8 000.00 R 96 000.00 3 R 16 000.00 R 192 000.00

Comments:

 Section 3 and 4 is leased by the same tenant (Seller) for a period of 8 months with an option to renew for a further 6 months. The mezzanine levels are currently joined however the Seller will restore this, when the lease expires, should there be two different buyers or if there is one single buyer who may prefer that.  The tenant (Seller) is liable for Water, Electricity and Rubbish removal expenses.

Expenses

Section 1 – The assessment rates for the year 2017/2018 amounts to R 33 372.00, which equates to a monthly figure of R 2 781.00.

Section 3 – The assessment rates for the year 2017/2018 amounts to R 17 304.00, which equates to a monthly figure of R 1 442.00.

Section 4 – The assessment rates for the year 2017/2018 amounts to R 17 304.00, which equates to a monthly figure of R 1 442.00.

The monthly levy amounts to:

Section 1: Monthly Levy: R 3 664.74 Exclusive Use Levy (Parking Bay): R 1 207.00 CSOS Levy: R 40.00

Section 3: Monthly Levy: R 1 676.05 Exclusive Use Levy (Parking Bay): R 118.00 CSOS Levy: R 23.52

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SECTIONS 1, 3 & 4 JETGIRL PARK, ADDITIONAL 6 TORLAGE STREET, NEW GERMANY 1318INFORMATION Old North Coast Road, Avoca (Continued)

Section 4: Monthly Levy: R 1 676.05 Exclusive Use Levy (Parking Bay): R 118.00 CSOS Levy: R 23.52

Vat Status

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

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SECTIONS 1, 3 & 4 JETGIRL PARK, TERMS & 6 TORLAGE STREET, NEW GERMANY 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  24 hours Confirmation period – 21 June 2018 @ 17h00  45 Day Guarantee Period  Possession on Registration of Transfer  Electrical, Entomologist and Gas Certificates for the Sellers account

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 SECTIONS 3, 4, 5 & 8 SS CHAMBERLAIN PARK, 273 BALFOUR ROAD, JACOBS

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SECTIONS 1, 3 & 4 JETGIRL PARK, ZONING 6 TORLAGE STREET, NEW GERMANY 1318CERTIFICATE Old North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, SECTIONAL 6 TORLAGE STREET, NEW GERMANY 1318TITLE Old PLANS North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, SECTIONAL 6 TORLAGE STREET, NEW GERMANY 1318TITLE Old PLANS North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, SECTIONAL 6 TORLAGE STREET, NEW GERMANY 1318TITLE Old PLANS North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, SECTIONAL 6 TORLAGE STREET, NEW GERMANY 1318TITLE Old PLANS North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, SECTIONAL 6 TORLAGE STREET, NEW GERMANY 1318TITLE Old PLANS North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, SECTIONAL 6 TORLAGE STREET, NEW GERMANY 1318TITLE Old PLANS North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, CONDUCT 6 TORLAGE STREET, NEW GERMANY 1318RULES Old North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, CONDUCT 6 TORLAGE STREET, NEW GERMANY 1318RULES Old North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, CONDUCT 6 TORLAGE STREET, NEW GERMANY 1318RULES Old North Coast Road, Avoca

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SECTIONS 1, 3 & 4 JETGIRL PARK, CONDUCT 6 TORLAGE STREET, NEW GERMANY 1318RULES Old North Coast Road, Avoca

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