PROPERTY AUCTION LENASIA PROPERTY AUCTION LARGE INDUSTRIAL FACILITY – ELCEDES, JHB WAREHOUSES, OFFICES AND YARD SPACE
TOTAL GLA – 7 087m2
16 Danel Street, Cnr Main Reef Road l ELCEDES, Jhb Erf 10 Elcedes
BUSINESS RESCUE AUCTION KETTLE FRIED COMPANY (PTY) LTD IN BUSINESS RESCUE (Duly instructed by the Business Rescue Practitioner s)
BID ONLINE VIA WEBCAST
Auction Date: Tuesday 01 June 2021 @ 11h00 Register to bid: www.whauctions.com Viewing: By appointment ONLY – Subject to COVID 19 Regulations WH Auctioneers Properties (PTY) Ltd
th 578 16 Road, Randjespark, Midrand Contact for further info: Tel: 0115745700
Joshua Pelkowitz www.whauctions.comThe 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 reserveCell: unless 072 otherwise 536 stated. 5482 Descriptions •mentioned Email: herein are joshuap@ not guaranteed by thewh.co.za auctioneers and are as supplied.
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BUSINESS RESCUE
Elcedes Industrial Facility
Index
1. Background & Reason for Disposal Page 3
2. Guideline to Auction Page 4
3. General Page 5
4. Title Deed Information Page 5
5. Locality Page 6
6. Description of Improvements Page 7
7. Financial Information Page 9
8. Site Photographs Page 10
9. Title Deed Page 15
10. Zoning Certificate Page 17
11. SG Diagram Page 18
12. Municipal Accounts Page 20
13. How to bid via Webcast Page 25
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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BUSINESS RESCUE
Elcedes Industrial Facility
1. BACKGROUND AND REASON FOR DISPOSAL
WH Auctioneers Properties have been duly instructed, on a sole and exclusive basis, by the Business Rescue Practitioners and the secured creditors, to dispose of the above property by way of public auction.
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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BUSINESS RESCUE
Elcedes Industrial Facility
2. GUIDELINE FOR THE AUCTION
BIDDING OPTIONS
1. WEBCAST BIDDING (ONLY FOR REGISTERED BIDDERS, PLEASE SEE PROCEDURE ATTACHED)
Auction Date & Venue: Tuesday 01 June 2021 @ 11h00
Registration: Bidders can register at any time prior to auction on www.whauctions.com. Identity and FICA documents are required in order to register for the auction.
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.
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 as set out in the Rules of Auction.
Registration Fee: R50 000.00 (Refundable to unsuccessful bidders) Buyer’s Premium: 7% (Excl. VAT) of the hammer price Deposit: 21.5% of hammer price Confirmation period: 7 business days. Balance of the purchase price payable within 21 business days after confirmation of sale.
The bid price excludes the buyer’s premium of 7% (Excl. VAT) which is payable over and above the purchase price by the highest bidder.
The auctioneers have the right to regulate the bidding at the auction. 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 18.05% is payable on the fall of the hammer. This percentage is made up of the commission payable by the successful bidder of 7% plus VAT (namely, 8.05%) plus a 10% deposit on the purchase price of the Property.
The deposit is payable by way of a Bank Guarantee or electronic transfer into the WH Auctioneers Trust account.
For queries regarding the properties on auction contact: Joshua Pelkowitz: 072 536 5482 WH Auctioneers offices: 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.
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BUSINESS RESCUE
Elcedes Industrial Facility
3. GENERAL
Property Address: 16 Daniel Street, Cnr Main Reef Road, Elcedes, Johannesburg
Erf & Suburb & City: Erf 10 Elcedes
4. TITLE DEED INFORMATION
Deeds Office: Johannesburg
Registered Owner: Kettle Fried Company (Pty) Ltd in Business Rescue
Title Deed No. T16653/2013
Erf Size: 9 661m²
Zoning: Industrial 1
Bonds: B9529/2014 Mercantile Bank Ltd – R20,000,000
Servitudes: 2 x Right of Way servitudes – no impact on the value
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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BUSINESS RESCUE
Elcedes Industrial Facility
5. LOCALITY
The property is located in a small industrial pocket comprising 10 erven, known as Elcedes. Elcedes is well situated approximately 2km east of the Johannesburg Central Business District, between Benrose and Denver. Surrounding suburbs include Jeppestown (north), Denver (east), George Goch railway station (south) and Droste Park (west).
On a micro level, this property is centrally located in a well-known commercial node just east of the Johannesburg Central Business District. It is situated at number 19 Daniel Road, corner Main Reef Road. Main Reef Road is the main arterial through the area and joins Johannesburg and Germiston. An informal settlement is located 200 meters east from the subject property, which has a major impact on the security (and consequently demand for industrial accommodation) in the immediate vicinity. Surrounding and adjoining properties comprise similar industrial buildings.
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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BUSINESS RESCUE
Elcedes Industrial Facility
6. DESCRIPTION OF IMPROVEMENTS
The property comprises a double storey office building with a large factory and workshop on an Industrial zoned Erf. Portion 452 of Farm Doornfontein 92 is specifically excluded and not for sale (see below site layout)
Warehouse
The warehouse is located on the northern boundary of the property and comprises a double storey steel frame that is covered with a pitched IBR roof. Heat protection is fitted underneath the roof sheets. Walls comprise a combination of semi face brick walls and IBR side cladding. The building has a floated concrete floor. An overhead crane with a capacity of 5 tons is fitted inside this building. Attached to this building is a 1.5 volume lean-to.
Workshop
This is a large steel frame that is covered with a pitched IBR roof. The floor comprises floated/painted concrete and translucent roof sheets provide additional natural lighting inside the building. The workshop is divided into various smaller workshops, workshop offices and storage space. There is also a staff pause area between the workshop and the warehouse building.
Office building
This is a double storey face brick building that is covered with a pitched tiled roof. Internal fittings and finishes are average, and the building offers multiple cubicle offices, reception areas, bathrooms, kitchens and storage space.
Additional Improvements
- Staff canteen and cafeteria
- Steel palisade fencing
- Concrete yard space
- Steel sliding gate at the main entrance with 24/7 security
- Carport and shade net parking
General Condition:
The property appears to be in average to poor condition with maintenance required. There appears to be some pealing paint in sections. There are also some broken windows as well as a large hole in one section of the warehouse roof. 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. We have not received nor had site of building plans. Neither the Seller nor the Auctioneer warrant the availability of any buildings plans and the property is not being sold subject to the provision of such plans.
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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BUSINESS RESCUE
Elcedes Industrial Facility
Building sizes (measured as per the SAPOA method of measuring)
Area GBA GLA
Warehouse 927 m² 927 m² Lean-to 290 m² 290 m² Factory / office - ground floor 5044 m² 5044 m² Office - first floor 751 m² 751 m² Mezzanine 65 m² 65 m² Transformer room 41 m² Ablution 10 m² 10 m² 7128 m² 7087 m²
SITE LAYOUT
Access Access
Ptn 452 Doornfontein Parking (Excluded) Access
Warehouse
Yard
Offices &
Ablution
Blcok
Workshops
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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BUSINESS RESCUE
Elcedes Industrial Facility
7. FINANCIAL INFORMATION
The property is currently vacant. Income and expense information will therefore be assumed based on current market conditions. Expenses will normally constitute 30% of the gross income.
Market research indicates rentals between R25/m² and R30/m² for industrial accommodation in the Elcedes / Benrose area. The rental rates are dependent on the size, age and condition of the property. The following table illustrates an estimated income statement assuming the property was fully-let.
Potential Net Annual Income = R1 383 287
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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BUSINESS RESCUE
Elcedes Industrial Facility
8. 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.
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BUSINESS RESCUE
Elcedes Industrial Facility
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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BUSINESS RESCUE
Elcedes Industrial Facility
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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BUSINESS RESCUE
Elcedes Industrial Facility
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
BUSINESS RESCUE
Elcedes Industrial Facility
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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BUSINESS RESCUE
Elcedes Industrial Facility
9. TITLE DEED (Extract)
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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BUSINESS RESCUE
Elcedes Industrial Facility
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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BUSINESS RESCUE
Elcedes Industrial Facility
10. ZONING CERTIFICATE
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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BUSINESS RESCUE
Elcedes Industrial Facility
11. SG DIAGRAM
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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BUSINESS RESCUE
Elcedes Industrial Facility
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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BUSINESS RESCUE
Elcedes Industrial Facility
12. MUNICIPAL ACCOUNTS (for account of the Seller)
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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BUSINESS RESCUE
Elcedes Industrial Facility
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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BUSINESS RESCUE
Elcedes Industrial Facility
13
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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BUSINESS RESCUE
Elcedes Industrial Facility
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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