For Sale Auction

INCOME FOR SALE GENERATING

BY SMALLHOLDING

AUCTION 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL

WEB#: AUCT-000247 | www.in2assets.com ADDRESS: 60 Abattoir Street, Craiglea, Cato Ridge, KwaZulu Natal AUCTION VENUE: The Durban Country Club, Isaiah Ntshangase Road, Durban AUCTION DATE & TIME: 14 July 2016 | 11h00 VIEWING: By Appointment CONTACT: Scott McNair | 082 830 5208 | 031 574 7600 | [email protected] REGISTRATION FEE: R 50 000-00 (Refundable Bank Guaranteed Cheque) AUCTIONEER: Andrew Miller

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. The Rules of Auction contain the registration requirements if you intend to bid on behalf of another person or an entity. The above property is subject to a reserve price and the sale by auction is subject to a right to bid by or on behalf of the owner or auctioneer.

CONTENTS 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 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 DIAGRAMS 9

ZONING CERTIFICATE 10

LAND CLAIMS LETTER 11

MOVABLES LIST 12

VODACOM TOWER PLAN 13

BUILDING PLANS 14

TITLE DEED 17

RULES OF AUCTION & CONDITIONS OF SALE 20

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 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318 Old North Coast Road, Avoca

In light of the Consumer Protection Act which came into effect on 1 April 2011, 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.

Should you require any further assistance or have any questions or queries, please do not hesitate to contact us.

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PROPERTY 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318 Old North Coast Road, Avoca DESCRIPTION

General

Property Address: 60 Abattoir Street, Craiglea, Cato Ridge Township & Province: Farm Riet Vallei, KwaZulu Natal

Title deed information

Title Deed Number: T18908/2005 Registered Owner: Barend Daniel Van der Merwe Title Deed Description: Portion 188 of the Farm Riet Vallei No. 851 Extent: 20. 2823 Hectares

Municipal information

The local authority in which the property is situated is the eThekwini Municipality. In terms of the letter received from the Municipality; only a Residential Dwelling and Agricultural Activities are permitted. All other uses are subject to the approval of the eThekwini Municipality.

Special Notes

 The site is subject to a D’MOSS control layer in terms of COWS.  Any development proposals for the site, irrespective of the existing zoning, would first have to be approved by the Council from an environmental perspective.

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PROPERTY 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318LOCATION Old North Coast Road, Avoca

The subject property is tucked away in the idyllic and picturesque Valley of a 1000 Hills in KwaZulu Natal, South Africa. Only half an hour from golden beaches and a mere 20 - 30 minutes from the major metropolitan shopping areas of Pietermaritzburg and Durban, the property is ideally and conveniently situated to operate as a lodge.

The subject property is located in the Cato Ridge area along Abattoir Road, which is an extension off Eddie Hagen. It is within a reasonably close proximity to the Cato Ridge Caltex Garage, the abattoir and the Dunbar Spar Development.

To reach the property travel from Cato Ridge along Eddie Hagen Drive towards Inanda Dam and to the Abattoir. At the end of Eddie Hagan, cross over the MR 423 Road and Drakensberg Street and follow to the road for approximately 700m. At the sharp right bend on Abattoir Road there is a gravel road which leads to the subject property. The property is approximately 1km and onto the third driveway on the left.

Access to the National Route N3 is located approximately 9km from the subject property. The property is located some 35km from Pietermaritzburg. Some amenities such as shops and filling stations are located within a radius of 5km of the subject property. The property is within close proximity to the Aerodrome Airport / Airfield and various schools.

SUBJECT PROPERTY: Portion 188 of the Farm Riet Vallei No. 851, Craiglea, Cato Ridge

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PICTURE 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318GALLERY Old North Coast Road, Avoca

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PICTURE 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318GALLERY Old North Coast Road, Avoca (continued)

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ADDITIONAL 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318INFORMATION Old North Coast Road, Avoca

Primary use

This income generating property near Cato Ridge provides a country lifestyle while still being conveniently situated close to the rapidly growing commercial and industrial nodes of Hammarsdale & Cato Ridge.

The property consists of a large 5 bedroom main house. Each bedroom has separate access and an en-suite bathroom and thus could be let out on an individual, B&B type basis. This main house further consists of entrance hall, lounge, dining room, kitchen, pantry, scullery, cloak rooms x 2 and an enclosed braai / pub area. Outside there is a deck and pool that overlooks the valley of a 1000 Hills and Duzi River. Furthermore there are 3 separate self-contained cottages perfect for longer term tenants or contract workers based nearby. The property includes a double carport.

The buildings are all set on the Southern boundary of the property, atop the escarpment overlooking the Valley of 1000 Hills. The remainder of the property is a protected D’Moss area and thus will not be spoilt by development, but can be used for grazing. A WI-FI tower on the property provides unlimited internet connection.

The property is subject to a right of way servitude as per the Title Deed and SG Diagram. The Property will be sold with Movables, a complete list can be found on page 12 below.

Lease Details

There is a Vodacom Cellphone tower on the property. Rental amounts for the past 3 years are as follows: 02 October 2013 – R 38 990.88 per annum 27 September 2014 – R 41 465.28 per annum 30 September 2015 – R 43 527.36 per annum The annual increase for 2016 will be in line with the CPI. The Lease expires on the 31 August 2018

There are 3 lettable self-contained cottages on the property, 1 of which is let out on a month to month basis for R3, 500.00, however there is no formal lease agreement. The other 2 cottages could potentially be let out for ±R2, 500.00 per month each. Property will be sold with vacant occupation should the Purchaser require.

N.B: Copies of the Vodacom lease agreements are available on our website to view and download

Expenses

The assessment rates for the year 2015/2016 amounts to R 2 230.08, which equates to a monthly figure of R 185.84.

Vat Status

The Seller is not Vat Registered.

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TERMS & 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 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 payable by the Purchaser on the fall of the hammer  24 Hour Confirmation period – 15 July 2016 @ 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 Name : Standard Bank Account Name : In2assets Properties (Pty) Ltd Account No. : 050022032 Branch Name : Kingsmead Branch code : 040026

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SG DIAGRAM 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318 Old North Coast Road, Avoca

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ZONING 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318CERTIFICATE Old North Coast Road, Avoca

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LAND CLAIMS 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318LETTER Old North Coast Road, Avoca

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MOVABLES 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318LIST Old North Coast Road, Avoca

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VODACOM 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318TOWER Old North PLAN Coast Road, Avoca

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BUILDING 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318PLANS Old North Coast Road, Avoca

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BUILDING 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318PLANS Old North Coast Road, Avoca

(continued)

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BUILDING 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318PLANS Old North Coast Road, Avoca

(continued)

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TITLE DEED 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL 1318 Old North Coast Road, Avoca

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TITLE DEED 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL (continued) 1318 Old North Coast Road, Avoca

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TITLE DEED 60 ABATTOIR STREET, CRAIGLEA, CATO RIDGE, KWAZULU NATAL (continued) 1318 Old North Coast Road, Avoca

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