BID to ESTATES

FORT PEARSON BID to ESTATES

SUGARCANE FARM,

BUY DARNALL, KWAZULU NATAL NORTH COAST

WEB REF NO.: Click to view| www.in2assets.com ADDRESS: P111 Road, of the N2, Darnall, Kwazulu Natal North Coast CONTACT: Kelvin Kotze | 076 875 7982 | 031 574 7600 | [email protected] BIDDING STARTS: 20 October 2015 BIDDING ENDS: 13 November 2015

CONTENTS FORT PEARSON ESTATES SUGARCANE FARM, DARNALL, KWAZULU NATAL 1318 Old North Coast Road, Avoca

PROPERTY DESCRIPTION 2

PROPERTY LOCATION 3

PICTURE GALLERY 5

ADDITIONAL INFORMATION 9

TERMS AND CONDITIONS 13

PROPOSED CONSOLIDATION PLAN 14

LAND CLAIMS LETTER 15

SG DIAGRAMS 16

TITLE DEEDS 24

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 Deed of Sale can be viewed at www.In2assets.com or at Unit 505, 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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PROPERTY FORT PEARSON ESTATES SUGARCANE FARM, DARNALL, KWAZULU NATAL 1318DESCRIPTION Old North Coast Road, Avoca

General

Property Address: P111 off the R102, Township, Province & Country: Darnall, KwaZulu Natal

Title deed information – Property 1

Title Deed No.: T76341/2003 Registered Owner: Fort Pearson Estates (Pty) Ltd Title Deed Description: Portion 2 of the Farm Pension Fund No. 17691 Extent: 231.5971 hectares Street Address / Known As: P111 off the R102, Darnall, KwaZulu Natal NB. The Seller is currently in the process of consolidating a portion from Portion 4 of the Farm Pension Fund No. 17691 into the above farm which is to the benefit of the Purchaser. The new description will be known as Portion 10 of the Farm Pension Fund No.17691 with extent being 248.7467 hectares.

Title Deed Information – Property 2

Title Deed Number: T76337/2003 Registered Owner: Fort Pearson Estates (Pty) Ltd Title Deed Description: The Remainder of Portion 5 of the Farm Margaret No.16988 Extent: 267.0143 hectares

Municipal information

The local authority in which the properties are situated is the Kwadukuza Municipality and Mandeni Municipality. According to the permitted zoning schemes the properties are zoned as follows:

Town Planning Information

Zoning: Agricultural NB. The above Zoning was confirmed telephonically with the respective municipalities and no official zoning certificate was issued.

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PROPERTY FORT PEARSON ESTATES SUGARCANE FARM, DARNALL, KWAZULU NATAL 1318INFORMATION Old North Coast Road, Avoca & LOCATION

Fort Pearson Estates lies between the N2 and the R102; bounded on the north by the Harold Johnson Nature Reserve and the Tugela River, on the east by the N2, on the west by the Durban - Empangeni railway and to the south, by neighbouring farms.

Road access from the south is along the N2 to the 287 off-ramp (Darnall/Zinkwazi); 3km west towards Darnall to the intersection with the R102; 7km north along the R102 to the P111; 3km along the gravel P111 to the Fort Pearson Estates signpost and 0.5km south to the Main Homestead and Office.

Distance from Stanger: 25km Distance from Ballito: 50km Distance from Umhlanga: 90km Distance from Empangeni: 100km

SUBJECT PROPERTY: Fort Pearson Estates Sugarcane Farms, Darnall, KZN

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PROPERTY FORT PEARSON ESTATES SUGARCANE FARM, DARNALL, KWAZULU NATAL 1318INFORMATION Old North Coast Road, Avoca & LOCATION

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FORT PEARSON ESTATES SUGARCANE PICTURE FARM, DARNALL, KWAZULU NATAL 1318GALLERY Old North Coast Road, Avoca

HOMESTEADS, WORKSHOPS, OFFICE

MAIN STAFF HOSTEL

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PICTURE FORT PEARSON ESTATES SUGARCANE FARM, DARNALL, KWAZULU NATAL 1318GALLERY Old North Coast Road, Avoca (continued)

HOSTEL 1

HOSTEL 2 OFFICE

PASTURES WATER SUPPLY DAM

WORKSHOPS

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PICTURE FORT PEARSON ESTATES SUGARCANE FARM, DARNALL, KWAZULU NATAL 1318GALLERY Old North Coast Road, Avoca (continued)

HOMESTEAD

VIEW EAST TO TUGELA RIVER SWIMMING POOL

SECOND HOMESTEAD

STABLES

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PICTURE FORT PEARSON ESTATES SUGARCANE FARM, DARNALL, KWAZULU NATAL 1318GALLERY Old North Coast Road, Avoca (continued)

VIEW EAST VIEW NORTH

VIEW NORTH (MTN CELLPHONE TOWER) VIEW SOUTH

VIEW WEST VIEW NORTH (WOODED VALLEY)

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FORT PEARSON ESTATES SUGARCANE ADDITIONAL FARM, DARNALL, KWAZULU NATAL 1318INFORMATION Old North Coast Road, Avoca

About the Farm

Layout: Conventional land-use plan Crest and contour roads Valley waterways (well treed) Indigenous bush clumps

Sugarcane lands: 400 hectares Other: 121 hectares Total: 521 hectares

Darnall Mill: 12 km Cane Transport: Verbal Agreement – Umzimkulu & Planters Co-Op

Rainfall: 1100 mm per annum Soils: Dwyka Water: Borehole @ 9000l per hour Hostels - 2 x dams

The properties are subject to various servitudes, expropriations & conditions as mentioned in the SG diagrams and Title Deeds. The properties are not subject to any land claims.

Production

Year Tonnes 2006 18765 2007 25045 2008 22144 2009 24436 2010 13382 2011 14697 2012 19773 2013 16310 2014 18000 (estimate) 2007 / 8 / 9: Full production 2010: Drought (630 mm rainfall) 2011 / 11 / 12: Re-establishment delayed 2013: Re-planting - 102ha 2014: 10500

Re-Planting

2011 = 40 hectares 2012 = 40 hectares 2013 = 130 hectares 2014 = 40 hectares

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FORT PEARSON ESTATES SUGARCANE ADDITIONAL FARM, DARNALL, KWAZULU NATAL 1318INFORMATION Old North Coast Road, Avoca (continued)

Buildings

Homesteads & Cottages  Homestead (Main): 5 bedrooms  Guest Cottage: 2 bedrooms  Homestead (Manager): 3 bedrooms  Cottage: 2 bedrooms

Office / Workshop complex  Farm office  Chemical store  Workshop with equipment store  Fertiliser store  Bulk fuel tanks x 2  Storage yard

Staff accommodation  Domestic staff cottages x 3

 Hostel 1: 100+ facility Single quarters for women and men Cottages for couples or families Communal ablutions Communal kitchen

 Hostel 2: 20+ facility Double rooms x 4 Communal ablutions Mess hall Kitchen and storerooms

NB. We are not in possession of building plans for any of the building structures on the properties.

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FORT PEARSON ESTATES SUGARCANE ADDITIONAL FARM, DARNALL, KWAZULU NATAL 1318INFORMATION Old North Coast Road, Avoca (continued)

Movables Assets

1. 3 x General purpose and haulage tractors 2. 1 x 4x4 tractor 3. 2 x General purpose trailers 4. 2 x 5 ton Infield loading trailers (box) 5. 1 x Bell 120 Cane loader 6. 1 x Herbicide / firefighting tanker 7. 1 x 600 Sprayrig 8. 1 x Slasher 9. 1 x Harrow 10. 1 x Ripper 11. 1 x Ridger 12. 1 x 3 Row Ridger 13. 2 x Diesel bulk fuel tanks

The properties will be offered individually or as a combined lot. For the combined sale all movable assets listed above will be included in the sale.

For the individual property sales, the movable assets listed below will only be included in the sale:-

PROPERTY 1: Portion 2 of the Farm Pension Fund No. 17691 (In the process of being consolidated as fully described on page 3 above) - 2 x General purpose and haulage tractors 1 x General purpose trailers 1 x 5 ton Infield loading trailers (box)

PROPERTY 2: Portion 5 of the Farm Margaret No.16988 - 1 x General purpose and haulage tractors 1 x 4x4 tractor 1 x General purpose trailers 1 x 5 ton Infield loading trailers (box)

The Purchaser can negotiate directly with the Seller regarding the other movable assets and pricing prior to transfer.

Roads

Quarry on Farm.

Waste Disposal

Dump on Farm.

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FORT PEARSON ESTATES SUGARCANE ADDITIONAL FARM, DARNALL, KWAZULU NATAL 1318INFORMATION Old North Coast Road, Avoca (continued)

Wildlife Bushbuck Grey Duiker Red Duiker Bush Pig Vervet Monkey Mongoose Porcupine Prolific Birdlife The animals listed above are roaming freely in the vicinity of the properties and has no ownership.

Lease / Income Details MONTHLY ANNUAL MINIMUM FARM LESSEE NAME RENTAL (EX. RENTAL (EX. LEASE TERM ESCALATION AREA SIZE VAT) VAT) Site No. T973 on Portion Mobile Telephone 1 July 2015 to 31 As per CPI starting 2 of the Farm Pension Networks (Pty) Ltd - 85m² R 18 374.30 R 220 491.60 May 2025 on 1 July 2016 Fund No.17691 MTN Portion 2 of the Farm Tongaat Hulett Group 161.1 18 August 2003 - As per the Sugar Pension Fund No.17691 Limited hectares The Seller will provide 31 March 2047 Industry Agreement this information to the Portion 5 of the Farm Tongaat Hulett Group 216.4 Purchaser. 18 August 2003 - As per the Sugar Margaret No.16988 Limited hectares 31 March 2047 Industry Agreement

Comments:

1. Copies of all 3 lease agreements are available at our office or can be downloaded from our website. 2. The Seller has advised us that there is a Verbal Haulage Agreement with Umzimkulu & Planters Co-op who attend to the haulage of the cane. 3. The property will be sold with the supply agreements and cellular tower agreement in place.

Expenses

 Portion 2 of the Farm Pension Fund No. 17691 – This property falls within Mandeni Municipality - The assessment rates for the year 2015/2016 is ±R10,655.76 per annum which equates to ±R887.98 per month.

 Portion 5 of the Farm Margaret No. 16988 - This property falls within 2 municipalities, Kwadukuza & Mandeni - The assessment rates for the year 2015/2016 is ±R3,999.24 per annum which equates to ±R333.27 per month.

Vat Status

The Seller is Vat registered – Option to Zero Rate

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TERMS & FORT PEARSON ESTATES SUGARCANE FARM, DARNALL, KWAZULU NATAL 1318CONDITIONS Old North Coast Road, Avoca

If you are the highest bidder kindly note the following:

• 5% Deposit payable by the Purchaser on confirmation of the accepted bid • 10% Commission payable by the Purchaser within 48 hours on condition precedent being fulfilled • 48 hour Confirmation period • 45 Day Guarantee Period after suspensive condition fulfilled • Possession on Registration of Transfer • Electrical, Entomologist and Gas Certificates for the Sellers account • Subject to Bond Approval

Kindly note below banking details for EFT payments:

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 Swift Code : SBSAZAZAJJ

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FORT PEARSON ESTATES SUGARCANE PROPOSED FARM, DARNALL, KWAZULU NATAL 1318CONSOLIDATION Old North Coast Road, Avoca PLAN

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FORT PEARSON ESTATES SUGARCANE LAND CLAIMS FARM, DARNALL, KWAZULU NATAL 1318LETTER Old North Coast Road, Avoca

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FORT PEARSON ESTATES SUGARCANE SG DIAGRAMS FARM, DARNALL, KWAZULU NATAL PORTION 2 OF THE FARM 1318 Old North Coast Road, Avoca PENSION FUND NO.17691

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FORT PEARSON ESTATES SUGARCANE SG DIAGRAMS FARM, DARNALL, KWAZULU NATAL PORTION 2 OF THE FARM 1318 Old North Coast Road, Avoca PENSION FUND NO.17691

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FORT PEARSON ESTATES SUGARCANE SG DIAGRAMS FARM, DARNALL, KWAZULU NATAL PORTION 2 OF THE FARM 1318 Old North Coast Road, Avoca PENSION FUND NO.17691

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FORT PEARSON ESTATES SUGARCANE SG DIAGRAMS FARM, DARNALL, KWAZULU NATAL PORTION 2 OF THE FARM 1318 Old North Coast Road, Avoca PENSION FUND NO.17691

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FORT PEARSON ESTATES SUGARCANE SG DIAGRAMS FARM, DARNALL, KWAZULU NATAL PORTION 5 OF THE FARM 1318 Old North Coast Road, Avoca MARGARET NO.16988

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FORT PEARSON ESTATES SUGARCANE SG DIAGRAMS FARM, DARNALL, KWAZULU NATAL PORTION 5 OF THE FARM 1318 Old North Coast Road, Avoca MARGARET NO.16988

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FORT PEARSON ESTATES SUGARCANE SG DIAGRAMS FARM, DARNALL, KWAZULU NATAL PORTION 5 OF THE FARM 1318 Old North Coast Road, Avoca MARGARET NO.16988

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FORT PEARSON ESTATES SUGARCANE SG DIAGRAMS FARM, DARNALL, KWAZULU NATAL PORTION 5 OF THE FARM 1318 Old North Coast Road, Avoca MARGARET NO.16988

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FORT PEARSON ESTATES SUGARCANE TITLE DEED FARM, DARNALL, KWAZULU NATAL 1318 Old North Coast Road, Avoca

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FORT PEARSON ESTATES SUGARCANE TITLE DEED FARM, DARNALL, KWAZULU NATAL 1318 Old North Coast Road, Avoca

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FORT PEARSON ESTATES SUGARCANE TITLE DEED FARM, DARNALL, KWAZULU NATAL 1318 Old North Coast Road, Avoca

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FORT PEARSON ESTATES SUGARCANE

TITLE DEED FARM, DARNALL, KWAZULU NATAL