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213 Mathews Meyiwa (Stamford Hill) Road, Durban Modern Office Investment MODERN OFFICE INVESTMENT 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN WEB#: AUCT-000663 | www.in2assets.com ADDRESS: 213 Mathews Meyiwa (Stamford Hill) Road, Durban AUCTION VENUE: The Durban Country Club, Isaiah Ntshangase Road, Durban AUCTION DATE & TIME: 16 May 2018 | 11h00 VIEWING: Thursday, 10 May 2018 | 14h00 to 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 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 1318 Old North Coast Road, Avoca CPA LETTER 2 PROPERTY DESCRIPTION 3 PROPERTY LOCATION 5 PICTURE GALLERY 6 ADDITIONAL INFORMATION 9 TERMS AND CONDITIONS 11 SG DIAGRAMS 12 BUILDING PLANS 15 ZONING CERTIFCATES 21 LEASE AGREEMENTS 25 TITLE DEED 55 RULES OF AUCTION & CONDITIONS OF SALE 59 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. Version 5: 15.05.2018 1 CPA LETTER 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 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. Version 5: 15.05.2018 2 PROPERTY 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 1318DESCRIPTION Old North Coast Road, Avoca General Property Address: 213 Mathews Meyiwa (Stamford Hill) Road Township & Province: Durban, KwaZulu-Natal Title Deed Information – Property 1 Title Deed Number: T42120/2010 Registered Owner: Point Zero Trading CC Title Deed Description: Portion 14 of Erf 1449 Durban Extent: 501 m² Title Deed Information – Property 2 Title Deed Number: T42120/2010 Registered Owner: Point Zero Trading CC Title Deed Description: Portion 15 of Erf 1449 Durban Extent: 408 m² Title Deed Information – Property 3 Title Deed Number: T42120/2010 Registered Owner: Point Zero Trading CC Title Deed Description: Portion 16 of Erf 1449 Durban Extent: 247 m² Total Combined Extent: 1 156 m² Version 5: 15.05.2018 3 PROPERTY 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 1318DESCRIPTION Old North Coast Road, Avoca (Continued) Municipal information The local authority in which the property is situated is the eThekwini Municipality. According to the permitted zoning scheme the properties are zoned as follows: Town Planning Information – Portion 14 of Erf 1449 Durban Zoning: General Residential 2 F.A.R: 1.0 Coverage: 40%; 20% garden area to be provided Height: N/A Building Lines: 7.5 metres to all road frontages Side: 1.2 metres / storey (minimum of 3.0 metres) Rear: 1.2 metres / storey (minimum of 5.0 metres) Parking: Depends on use Town Planning Information – Portion 15 of Erf 1449 Durban Zoning: General Residential 2 F.A.R: 1.0 Coverage: 40%; 20% garden area to be provided Height: N/A Building Lines: 7.5 metres to all road frontages Side: 1.2 metres / storey (minimum of 3.0 metres) Rear: N/A Parking: Depends on use Town Planning Information – Portion 16 of Erf 1449 Durban Zoning: General Residential 2 F.A.R: 1.0 Coverage: 40%; 20% garden area to be provided Height: N/A Building Lines: 7.5 metres to all road frontages Side: 1.2 metres / storey (minimum of 3.0 metres) Rear: 1.2 metres / storey (minimum of 5.0 metres) Parking: Depends on use Comments: As per the zoning certificates, the current zoning is General Residential 2. We are unable to determine whether special consent for offices has been given / granted. Version 5: 15.05.2018 4 PROPERTY 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 1318LOCATION Old North Coast Road, Avoca The property is situated within the upmarket suburb of Stamford Hill, surrounded by the suburbs of Windermere and Essenwood. Stamford Hill which is Durban’s sports hub is positioned west of the Umgeni and north of Greyville. The property is positioned at the corner of Silver Avenue and Mathews Meyiwa (Stamford Hill) Road approximately 260m from Sandile Thusi Road (M17) and approximately 220m from Umgeni Road. The immediate surrounding community enjoys the close proximity to Stamford Hill Road and Florida Road cosmopolitan atmosphere. Stamford Hill is a sought after location for mixed use activities. Commercial nodes are established in the vicinity which are mostly geared towards retail, accommodation, offices and restaurants. It is a built up area, with numerous sectional title complexes and historic residential dwellings operating as commercial uses. The property enjoys easy access to the Central Business District of Durban. Musgrave Centre and Clifton Preparatory School are nearby. SUBJECT PROPERTY: 213 Mathews Meyiwa (Stamfordhill) Road, Durban Version 5: 15.05.2018 5 PICTURE 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 1318GALLERY Old North Coast Road, Avoca Version 5: 15.05.2018 6 PICTURE 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 1318GALLERY Old North Coast Road, Avoca (Continued) Version 5: 15.05.2018 7 PICTURE 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 1318GALLERY Old North Coast Road, Avoca (Continued) . Version 5: 15.05.2018 8 ADDITIONAL 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 1318INFORMATION Old North Coast Road, Avoca Primary use This neat and well maintained double storey office building is positioned at the corner of Silver Avenue and Mathews Meyiwa (Stamford Hill) Road comprises modern and upmarket offices. There is a basement that consists of 4 store rooms and can park 5 cars and there is an extension to the basement that can park another 4 cars. The property is fully secured with electric fencing and accessed via intercom and automated gates. There is a neat garden to the front and the driveways are tarred. The property has pedestrian and vehicular access off Stamford Hill Road and vehicular exit onto Silver Avenue. There is ample parking on-site, with 24 parking bays (in total) of which 8 have shaded cloth. The upper floor and ground floor comprises of configuration of open plan and individual offices and a common reception area at the ground floor. Fixtures and fittings are superior throughout the building and most of the featured walls internally provide the building with the attractive appeal. The building currently accommodates 3 tenants, two on the ground floor and one upstairs. All tenants have access to the communal ablution facilities and the upstairs have their own ablution facilities. Office areas are either carpeted or have granite tiling. At the rear of the property there is a staff ablution facility and a staff shower. The property is subject to a sewer servitude as per the Title Deed. The Purchaser acknowledges herewith that he has fully acquainted himself with the improvements on the Property as well as the building plans and any deviations that may be applicable between the building plans and the improvements on the Property itself. The Purchaser acknowledges that he will have no claims against the Seller or the Auctioneer in respect hereof. As per the Title Deed, the property shall not be alienated, transferred, leased, mortgaged or otherwise dealt with the one separate from the other. Accommodation Details As per the Seller, the Gross lettable area is as follows: Ground Floor 279 m² First Floor 344 m² Basement (1) 130 m² Total 753 m² Basement: The basement is used by the owner for storage and for parking of vehicles. This area is not included in the rental income but is an opportunity for the new owner to generate additional income. Version 5: 15.05.2018 9 ADDITIONAL 213 MATHEWS MEYIWA (STAMFORD HILL) ROAD, DURBAN 1318INFORMATION Old North Coast Road, Avoca (Continued) Lease Details Lease Monthly Rental Annual Rental Tenant Name Lease Expiry Commencement (Excluding Vat) (Excluding Vat) Icon 3 Sixty (Pty) Ltd 01-Jul-15 31 June 2018 R 14 459.50 R 173 514.00 Fahrenheit Designs CC 01-Sep-11 31-Aug-18 R 24 668.18 R 296 018.16 Haibo Trading (Pty) Ltd 01-Mar-17 28-Feb-20 R 62 436.00 R 749 232.00 Total R 101 563.68 R 1 218 764.16 Comments: All tenants are liable for Water, Electricity and Sewerage expenses.
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