LENASIA PROPERTYPROPERTY AUCTION ASSESSMENT 6 Storey Commercial Building College/School/Office
Dansa House Building – Pretoria CBD
395 Francis Baard Street, Pretoria Central
Sections 1, 2 & 4 to 9 of the Scheme Churchill House LIQUIDATION Churchill House (Pty) Ltd (In Liquidation) Master’s Ref. T1054/17
Auction Date & Time: Tuesday 22 September 2020 @ 12pm
Venue: Online @ www.whauctions.com WH Auctioneers Properties (PTY) Ltd
578 16th Road, Randjespark, Midrand Auctioneer: Daniel Pelkowitz Tel: 0115745700
www.whauctions.com Contact for further info:
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 reserveDaniel unless otherwise Pelkowitz stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied. Cell: 072 360 7510 Page | 1 Email: [email protected]
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
Index
1. Guideline to the Auction Page 3
2. General Page 6
3. Title Deed Information Page 6
4. Locality Page 6
5. Description of Improvements Page 8
6. Financial Information Page 8
7. Site Photographs Page 14
8. Site Photographs Page 17
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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LIQUIDATION
6 Storey Commercial Building – Pretoria Central
1. GUIDELINE FOR THE AUCTION
Auction Date & Venue: Tuesday 22 September 2020 - Online @ www.whauctions.com
Registration: Bidders can register at any time prior to the auction.
Identity and FICA documents are required in order to register for the auction – NO EXCEPTIONS.
All potential buyers are required to pay a registration fee of R50 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: R50 000.00 (Refundable to unsuccessful bidders) Deposit: 21.5% of hammer price Confirmation period: 14 business days. Balance of the purchase price payable within 21 business days after confirmation of sale.
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 21.5% is payable on the fall of the hammer.
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 Office: 011 574 5700
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.
Page | 3
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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.
Page | 4
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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.
Page | 5
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
2. GENERAL
Property Address: 395 Francis Baard Street, Pretoria Central
Erf & Suburb & City: Sectional plan 49/1988 known as CHURCHILL HOUSE Situated at RE of Erf 579 PRETORIA 3. TITLE DEED INFORMATION
Deeds Office: Tshwane
Legal Description: Sections 1, 2 and 4 to 9 of the Sectional Scheme Churchill House situated on Erf 579 Pretoria
Erf Size: 1 280m2
GLA: ±2 786
Zoning: Business 1 (Zoning Certificate Below)
VIDEO WALKTHROUGH: https://youtu.be/Fs1Bn88PUtw
4. LOCALITY
The property is located in the Pretoria CBD. Despite the many corporate offices, small businesses, shops, and government departments that are situated in Pretoria's sprawling suburbs, its Central Business District still retains its status as the traditional centre of government and commerce. Many banks, businesses, large corporations, shops, shopping centres, and other businesses are situated in the city centre which is towered by several large skyscrapers, the tallest of which is the Poyntons Building the ABSA Building and the Reserve Bank of South Africa building
The area contains a large amount of historical buildings, monuments, and museums that include the Pretoria City Hall, Pretorius Square, Church Square (along with its many historical buildings and statues), and the Ou Raadsaal. There is also the Transvaal Museum (the country's leading natural history museum, which although it has changed venues a number of times, has been around since 1892), the National Zoological Gardens of South Africa (or more colloquially known as the Pretoria Zoo), Melrose House Museum in Jacob Maré Street, the Pretoria Art Museum and the African Window Cultural History Museum.
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.
Page | 6
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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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LIQUIDATION
6 Storey Commercial Building – Pretoria Central
5. DESCRIPTION OF IMPROVEMENTS
The subject property is a 6-storey building which is being utilised for educational purposes as a college/school and is fully occupied by Dansa College. The school caters for students from Grade R to Grade 12.
The building has not been upgraded to any great extent and much of the original finishes are still in place.
There are 2 lifts in the building – neither of which were operational on the date of inspection, however we were informed that one of the lifts is operational. Access to each floor is also gained via internal staircases and the lift.
There are classrooms and ablution facilities on every floor. Each floor has the same basic layout and structure. The main administration offices are on the 2nd floor.
This property has been registered as a sectional scheme consisting of 9 sections with a total Gros Lettable area of 3 393m2.
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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LIQUIDATION
6 Storey Commercial Building – Pretoria Central
There are further classrooms for the Grade R school behind the main building.
Parking Lot
There is no on-site parking.
Site Access
Access is gained via a motorised gate as well as the main entrance door off Francis Baard Street. The entrance is manned by security.
Summary
Roof: Corrugated Steel Sheeting over Concrete Slab
External Walls: Painted facebrick
Internal Walls: Plastered and painted brickwork and facebrick
External Floors: Tar
Internal floors: Tiles/Carpets/Concrete
Condition: The property in general is in an average condition with minimal maintenance having taken place. A structural survey of the building has not been undertaken and will not form part of this report. All structural and maintenance information are as per information provided by the owners upon visiting the site.
6. FINANCIAL INFORMATION
The property is currently occupied by Dansa College. A copy of the original lease agreement is included below.
POTENTIAL NET INCOME PER THE BELOW LEASE R3 100 000 (Ex VAT) Per Annum
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.
Page | 9
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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.
Page | 10
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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.
Page | 11
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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.
Page | 12
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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.
Page | 13
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
7. SITE PHOTOGRAPHS
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.
Page | 14
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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.
Page | 15
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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.
Page | 16
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
8. ZONING INFORMATION
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.
Page | 17
LIQUIDATION
6 Storey Commercial Building – Pretoria Central
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.
Page | 18