611 / 619 Main Road, Northdene Queensburgh

± 22 300 m² DEVELOPMENT OPPORTUNITY 611 / 619 MAIN ROAD, NORTHDENE QUEENSBURGH

WEB#: AUCT-000744 | www.in2assets.com ADDRESS: 611 / 619 Main Road, Northdene, Queensburgh AUCTION VENUE: The Durban Country Club, Isaiah Ntshangase Road, Durban AUCTION DATE & TIME: 19 September 2018 | 11h00 VIEWING: 05 September 2018 | 2pm to 3pm 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 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318 Old North Coast Road, Avoca

CPA LETTER 2

PROPERTY DESCRIPTION 3

PROPERTY LOCATION 5

PICTURE GALLERY 6

ADDITIONAL INFORMATION 9

TERMS AND CONDITIONS 12

SG DIAGRAMS 13

ZONING CERTIFICATES 15

BUILDING PLANS 17

TITLE DEEDS 19

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 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 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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PROPERTY 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318DESCRIPTION Old North Coast Road, Avoca

General

Property Address: 611 / 619 Main Road, Northdene Township & Province: Queensburgh, KwaZulu-Natal

Title Deed Information – Property 1

Title Deed Number: T33222/2012 Registered Owner: Africa Rising Investments (Pty) Ltd Title Deed Description: Erf 2485 Queensburgh Extent: 1, 2952 Hectares Known As: 611 Main Road, Northdene, Queensburgh

Title Deed Information – Property 2

Title Deed Number: T28046/2011 Registered Owner: Africa Rising Investments (Pty) Ltd Title Deed Description: Erf 4351 Queensburgh Extent: 9 371 m² Known As: 619 Main Road, Northdene, Queensburgh

Total Combined Extent: 2, 2323 Hectares

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PROPERTY 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318DESCRIPTION Old North Coast Road, Avoca (Continued)

Municipal Information

The local authority in which the properties are situated is EThekwini Municipality. According to the permitted zoning scheme the properties are zoned as follows:

Town Planning Information - Erf 2485 Queensburgh

Zoning: Special Residential 1 and Road Reserve F.A.R: 0.3 Coverage: 30 % Building Lines: 7.5m Side: 2.0m Rear: 3.0m Max Permitted Height: 2 Storeys Parking: Depends on use

Town Planning Information - Erf 4351 Queensburgh

Zoning: Special Residential 1 F.A.R: 0.3 Coverage: 30% Building Lines: 7.5m Side: 2.0m Rear: 3.0m Max Permitted Height: 2 Storeys Parking: Depends on use

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PROPERTY 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318LOCATION Old North Coast Road, Avoca

The property is situated in Northdene, a suburb of Queensburgh approximately 20km West of Durban.

The property fronts onto Main Road and obtains access from Main Road, as well as from Anderson Road. The property is surrounded by medium to upmarket type residential dwellings and sectional title duplexes as well as some commercial centres. It is positioned approximately 500m from the Northdene Train Station. The M7 Main Arterial Road is easily accessible which in turn links to the N2 National Freeway in the east. To the west, the M7 links to Hansdettman Highway which carries traffic to commercial and industrial businesses to the north (Pinetown, New Germany & Westmead) and to the Chatsworth Township to the south.

All modern amenities are found within the suburb of Malvern, which also forms part of the township of Queensburgh. A police station and other emergency services are found on the Main Road to Malvern.

SUBJECT PROPERTY: 611 / 619 Main Road, Northdene, Queensburgh

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611 / 619 MAIN ROAD, PICTURE NORTHDENE, QUEENSBURGH 1318GALLERY Old North Coast Road, Avoca

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PICTURE 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318GALLERY Old North Coast Road, Avoca (Continued)

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PICTURE 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318GALLERY Old North Coast Road, Avoca (Continued)

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ADDITIONAL 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318INFORMATION Old North Coast Road, Avoca

Primary use

The property positioned along the Main Road which is exposed to very high vehicular traffic. The property is fully fenced and gated and there are various improvements on the property.

We have been advised by the Seller that the Geotechnical Study, Traffic Report and Tachy survey has been completed for the Proposed Medium Density Housing Development. These reports are available on request and will be provided by the Seller.

Building 1

Building 1 can be described as an old house which has been converted for use as an alcohol and drug rehabilitation center. The building comprises of a main entrance and reception area, a fitted kitchen and pantry, 4 rooms that are being used as wards, main lounge area and 1 room with ensuite. There is a large verandah and patio. Adjacent to building 1 is a garage which has been converted and is now being used as an office with a shower toilet and basin.

Building 2

Building 2 is made up of an outbuilding with an attached single garage.

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ADDITIONAL 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318INFORMATION Old North Coast Road, Avoca (Continued)

Building 3

Building 3 is a double storey residential building comprising of 2 units, one on the ground floor and the other on the first floor.

Building 4

This building is an old Victorian style home.

Building 5

Building 5 is a double storey building comprising of a basement level and ground floor. Both levels are used by a church. The ground floor is made up of an open hall area with a rear office and ablution facilities. The basement level has an open hall area with ablution facilities.

It should be noted that we could not gain access to the interior of buildings 2, 3, 4 and 5.

The properties underlies AMAFA regulations.

As per the Title Deed, Erf 2485 Queensburgh is subject to a servitude of whole width.

Accommodation Details

We are only in possession of an approved building plan for Building No. 5 (situated at 611 Main Road), which is the hall that is being utilized by a church. As per measurements extracted from the plan this building has an estimated gross building area of ± 395.68 m²

The purchaser acknowledges herewith that he has fully acquainted himself with the improvements on the property. The purchaser however acknowledges that no plans have either been approved or not available for the improvements on the property apart from building 5. The purchaser will be liable for any/all costs involved in obtaining and passing of the building plans.

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ADDITIONAL 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318INFORMATION Old North Coast Road, Avoca (Continued)

Lease Details

Lease Monthly Rental Annual Rental Property Tenant Name Lease Expiry Commencement (Excl Vat) (Excl Vat)

619 Main Road / Erf 4351 Queensburgh AC Health and Wellness 08/06/2016 08/07/2019 R 8 500,00 R 102 000,00 611 Main Road / Erf 2485 Queensburgh Church Month to Month R 7 826,09 R 93 913,08 Total R 16 326,09 R 195 913,08

Comments:

• The tenants are liable for Water and Electricity expenses. • In respect of the tenant AC Health & Wellness, the annual escalation as per the Lease Agreement was not enforced by the Seller.

Expenses

611 Main Road, Erf 2485 Queensburgh – As per the Municipality the subject property is exempt from paying rates.

619 Main Road, Erf 4351 Queensburgh - The assessment rates for the year 2018/2019 amounts to R 21 262.92, which equates to a monthly figure of R 1 771.91.

Vat Status

The Seller is Vat registered, Vat is payable at the rate of 15%.

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TERMS & 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 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 Hour Confirmation period – 20 September 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

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SG DIAGRAMS 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318 Old North Coast Road, Avoca

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SG DIAGRAMS 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH (Continued) 1318 Old North Coast Road, Avoca

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ZONING 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318CERTIFICATES Old North Coast Road, Avoca

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ZONING 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318CERTIFICATES Old North Coast Road, Avoca (Continued)

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BUILDING 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318PLANS Old North Coast Road, Avoca

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BUILDING 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318PLANS Old North Coast Road, Avoca (Continued)

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TITLE DEEDS 611 / 619 MAIN ROAD, NORTHDENE, QUEENSBURGH 1318 Old North Coast Road, Avoca

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