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HERIOTDALE Mini Factories on Auction 7 Crucible Road, Heriotdale

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HERIOTDALE Mini Factories on Auction 7 Crucible Road, Heriotdale PROPERTY INFORMATION HERIOTDALE Mini Factories on Auction 7 Crucible Road, Heriotdale TUESDAY 9 JUNE 2015 @ 12H00 The Wanderers Club AUCTIONEER: Ismail Hendricks AGENT: Jonathan Aitken 082 453 1119 / [email protected] 1 TABLE OF CONTENTS 1. Property Summary 4 a. Locality (see Annexure A) 4 b. Legal Information (see Annexures B and C) 4 c. Town Panning (see Annexure D) 4 2. Locational Analysis 4 3. The Development 5 4. Notes 20 ANNEXURES Annexure A: Locality 7 Annexure B: Windeed Summary 9 Annexure C: SG Diagrams 10 Annexure D: Zoning Certificate 11 Annexure E: Picture Gallery 14 Annexure F: Tenancy Schedule 18 Annexure G: Income Statements 19 TERMS & CONDITIONS: Bidders must register and bring ID, proof of residence (FICA) and letter of authority to sign on behalf of a juristic entity. Rules of auction are available at www.broll.com and at our offices. 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. DISCLAIMER: “Whilst all reasonable care has been taken to obtain the correct information, neither Broll Auctions and Sales (Pty) Ltd, nor any of its subsidiaries and related companies, nor the Sellers, guarantee the correctness of the information, and none of the aforementioned 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 supplied, whether due to the negligence or 2 otherwise of Broll Auctions and Sales and its subsidiaries and related companied, the Seller, or any other person”. OPPORTUNITY SUMMARY The subject property is known as Heriotdale Mini Park and comprises of mini factories. Each unit offers an office, kitchen, men’s/ladies facility with warehouse. Ample open Description parking space is available with entrances from Crucible Road and Bessemer Street. Manoeuvrability in the park is limited to light commercial vehicles. Erf 6: 2,065m² Erf 7: 2,065m² Erf Size Erf 8: 2,041m² Erf 9: 2,041m² Zoning Industrial 1 Gross Lettable Area 4,851m2 Projected For Year Ended 30 May 2016 Gross Income: R2, 559 851 Income Statement Less Operating Expenses: (R323, 924) Net Income: R2, 235 927 Rates & Taxes Assessment Rates R 200,124 Annualised Issues Nil. 3 PROPERTY SUMMARY 1.1 Locality (see Annexure A) Property Address: 7 Crucible Road (Heriotdale Mini Park) Suburb and City: Heriotdale, City of Johannesburg Local Authority: City of Johannesburg Metropolitan Municipality Province: Gauteng 1.2 Legal Information (see Annexures B and C) Erf number(s): 6, 7, 8 and 9 Township: Heriotdale Erf Extent: Erf 6: 2,065m² Erf 7: 2,065m² Erf 8: 2,041m² Erf 9: 2,041m² Title Deed Number: T10569/2011 Registered Owner: Investec Prop Fund Limited 1.3 Town Panning (see Annexure D) The property is zoned Industrial 1 in terms of the City of Johannesburg Town Planning Scheme, subject to the following conditions: Zoning: Industrial 1 Height: 3 Storeys Coverage: 100% F.A.R: 2.1 Parking: 1 Parking bay per 100m² lettable area. Building line: 6 metres along the street boundary. 4 2. Locational Analysis The subject property is known as Heriotdale Mini Park with the main entrance at number 7 Crucible Road. Surrounding properties comprise of industrial facilities, offering light and heavy duty industrial buildings. All major amenities are situated within close proximity to the subject property. Heriotdale is located just south of the Johannesburg Central Business District and the M2 Motorway. The property is mainly accessed from Crucible Road with a secondary entrance situated at number 8 Bessemer Street. Heriotdale is supported by various routes which include the M2 motorway (Situated just north of Heriotdale), N3 national freeway and Cleveland Road. Road access to the property is good and the road infrastructure is designed to accommodate large commercial vehicles. The subject property is located between Crucible Road and Bessemer Road. GPS co-ordinates for the property are: -26.2120, 28.1215 3. Improvements The property comprises of an Industrial Park. It consists of 6 buildings that are divided into smaller units and leased separately. Buildings are constructed of face brick, which results into low maintenance cost. A security guard is stationed at the main entrance and regulates access into the park. Units located on the street boundary enjoy direct access onto the street. Other units gain access through a communal road through the centre of the property. The internal access road is brick paved. The units vary in size and can be adjusted as per tenant specifications. For instance 2 units can be used as 1 to a certain extent. Each warehouse offers an office, kitchen and bathroom facilities. Floors are floated concrete slabs and units are fitted with heat isolation underneath IBR roof sheeting. Florescent lights are installed to each warehouse. Each unit is fitted with an industrial type roller shutter door for easy access. Ample open parking is available throughout the property with some units offering steel carports. It should be noted that some carports are in need of repairs. Units are mainly used for light industrial purposes and storage. Shelving and equipment installed to the units are done by tenants and do not form part of the sale transaction. The buildings are numbered in pairs of A, B and C. Pair A comprises of 4 sections. The building is slightly smaller compared to the other buildings and comprises of similar finishes and fittings. 2 Units have direct access to the street. Pair B consists of 7 sections. The buildings are larger and accommodate more units. No access is available to the street front. Pair C consists of 5 units with similar finishes and fittings. 2 Units have direct access to the street front. 5 C Pair B Pair Pair A 6 ANNEXURE A LOCALITY 7 8 ANNEXURE B WINDEED SUMMARY 9 ANNEXURE C SG DIAGRAM(S) 10 ANNEXURE D ZONING CERTIFICATE 11 12 13 ANNEXURE E PICTURE GALLERY 14 15 16 17 ANNEXURE F TENANCY SCHEDULE 18 ANNEXURE G INCOME STATEMENT 19 Rules of Auction and Conditions of Sale 1.4. The rules of auction comply with section 45 of the Consumer Protection Act, Act 68 IMMOVABLE PROPERTY of 2008 (“the Act”) and with the Consumer Protection Act Regulations (“the Regulations”) that have been published in terms thereof. DATE OF AUCTION : PLACE OF AUCTION : The Wanderers Club, 21 North Street, Illovo, Johannesburg 1.5. Section 45 subsection (2) of the Act provides that: “ When goods are put up for sale TIME OF AUCTION : 12pm by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be AUCTION HOUSE : Broll Auctions and Sales (Pty) Ltd (“Broll”) the subject of a separate transaction. ” (Registration Number 2014/250826/07) AUCTIONEER : Ismail Hendricks 1.6. The auction will commence at the published time and will not be delayed to allow any Suite 4, 1 st Floor, Atholl Square, Cnr Katherine Drive specific person or more persons in general to take part in the auction. and Wierda Road East, Sandown Contact number: 087 700 8290 1.7. Registration to bid at the auction: Email: [email protected] 1.7.1 Anyone that intends to bid at the auction must register his or her identity on the Will offer for sale by public auction the following immovable property: bidder’s record prior to the commencement of the auction. Such registration must meet the requirements of FICA (Financial Intelligence Centre Act, 2001) ERVEN : 6, 7, 8 and 9 Heriotdale in respect of the establishment and verification of identity of the person, and the KNOWN AS : 7 Crucible Road, Heriotdale (Heriotdale Mini Park) person must sign the registration entry. IN EXTENT : 8, 212m² TITLE DEED NUMBER : T10569/2011 1.7.2 A person who attends the auction to bid on behalf of another person (i.e. on behalf of a company) must produce a signed letter of authority that expressly authorises him or her to bid on behalf of that person and the person bidding on RULES OF AUCTION his or her behalf must meet the requirements set out in clause 1.7.1 above. Where a person is bidding on behalf of a company the letter of authority must 1.1. Each prospective bidder must read these Rules of Auction together with the attached appear on the letterhead of the company and must be accompanied by a Conditions of Sale Agreement and must not bid unless he or she has done so. certified copy of the resolution authorising him or her to bid on behalf of the company. 1.2. The sale by auction is subject to a reserve price. 1.8 The bidder’s record and the vendor roll will be made available for inspection at the 1.3. The auctioneer or his agent shall be entitled to bid up to the reserve price on behalf offices of Broll during normal business hours without the charge of a fee. The bidders’ of the owner, but shall not be entitled to make a bid equal to or exceeding the reserve record will also be available for inspection at the auction. price. Page 2 of 32 1.9 Broll has a trust account. All money due to the seller in terms of the Rules of Auction 1.16 In the event of any dispute between the bidders, the decision of the auctioneer shall will be paid into this trust account for the benefit of the seller, minus any commission be final and binding. payable to Broll. 1.17 Any bona fide error by the auctioneer shall be entitled to be corrected by him.
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