BLUE CHIP INDUSTRIAL DEVELOPMENT OPPORTUNITY 27 TOTTUM ROAD, CORNUBIA INDUSTRIAL AND BUSINESS ESTATE WEB#: AUCT-000584 | www.in2assets.com ADDRESS: 27 Tottum Road, Cornubia Industrial & Business Estate AUCTION VENUE: The Durban Country Club, Isaiah Ntshangase Road, Durban AUCTION DATE & TIME: 21 February 2018 | 11h00 VIEWING: By Appointment CONTACT: Andrew Miller | 082 493 2362 | 031 574 7600 | [email protected] REGISTRATION FEE: R 50 000-00 (Refundable Bank Guaranteed Cheque) AUCTIONEER: Andrew Miller CONTENTS 27 TOTTUM ROAD, CORNUBIA 1318 Old North Coast Road, Avoca CPA LETTER 2 PROPERTY DESCRIPTION 3 PROPERTY LOCATION 4 PICTURE GALLERY 5 ADDITIONAL INFORMATION 7 TERMS AND CONDITIONS 9 SG DIAGRAMS 10 TITLE DEED 14 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. Version 5: 21.02.2018 1 CPA LETTER 27 TOTTUM ROAD, CORNUBIA 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. Version 5: 21.02.2018 2 PROPERTY 27 TOTTUM ROAD, CORNUBIA 1318DESCRIPTION Old North Coast Road, Avoca General Property Address: 27 Tottum Road Township & Province: Cornubia, KwaZulu-Natal Title deed information Title Deed Number: T24531/2015 Registered Owner: Technovaa Packaging Industries (Pty) Ltd Title Deed Description: Portion 19 of Erf 28 Cornubia Extent: 6, 0582 Hectares Municipal information The local authority in which the property is situated is eThekwini Municipality. According to the permitted zoning scheme the property is zoned as follows: Town Planning Information Zoning: Light Industrial F.A.R: 0.65 Coverage: 60% Height: 6 Storeys Building Lines: TBC Side: TBC Rear: TBC Parking: 1 bay per 100m² Comment: The above information was verbally provided to us by an official of the Municipality. In2assets could not obtain a copy of the Zoning Certificate. Version 5: 21.02.2018 3 PROPERTY 27 TOTTUM ROAD, CORNUBIA 1318LOCATION Old North Coast Road, Avoca The property is located on Tottum Road (Cul-de-sac) within Cornubia Industrial & Business Estate which has been planned as an environment-friendly and eco-sensitively designed, light industrial development. It is situated in the north-west corner of Cornubia and east of Ottawa. It will be accessible from all major sub- regional and provincial roads, such as the N2, M41, and the R102. These existing main roads and the proposed P577 (linking areas in the north of Durban to Pinetown in the west), and BRT routes will make the area highly accessible to and from the King Shaka International Airport. Cornubia is located inland of Umhlanga and close to Mount Edgecombe, Phoenix, Ottawa and Waterloo. It will initially provide for a 50 hectare industrial and business estate, more than 1 million square metres of commercial floor area and some 24 000 mixed affordability homes, of which about 15 000 will provide for subsidised housing opportunities. The industrial and business estate is set to be the next major industrial hub, with easy access to Dube Trade Port and the King Shaka International Airport's passenger and cargo terminals. SUBJECT PROPERTY: 27 Tottum Road, Cornubia Version 5: 21.02.2018 4 PICTURE 27 TOTTUM ROAD, CORNUBIA 1318GALLERY Old North Coast Road, Avoca . Version 5: 21.02.2018 5 PICTURE 27 TOTTUM ROAD, CORNUBIA 1318GALLERY Old North Coast Road, Avoca (Continued) Version 5: 21.02.2018 6 ADDITIONAL 27 TOTTUM ROAD, CORNUBIA 1318INFORMATION Old North Coast Road, Avoca Primary use The property comprises a serviced vacant industrial stand, which is located in Cornubia Industrial & Business Estate (CIBE). The stand is level and is well located in the development with easy access. The surrounding stands are currently being developed to cater for warehousing, mini factories and office buildings. The neighbouring stand is currently being developed by the Hirt & Carter, Uniprint and Triumph Printing. The CIBE precinct is located on the north-western side of Cornubia. It is bounded in the east by existing overhead power lines and Ottawa Substation in the north, west by the Ohlanga River and in the south by eThekwini Municipality's Phase 18 Housing Project. This zone is intended to provide, preserve and use land or buildings to enable the creation of a contemporary Industrial Business Estate which can accommodate a wide range of uses including warehousing, assembly, service and light industrial, distribution, logistics, showrooms, offices and retail set within a landscape environment. Cornubia, planned in line with sustainable development principles, is designed to provide for KwaZulu-Natal's largest mixed-use, mixed income and fully-integrated human settlement. It provides for higher densities, a range of income levels and the stimulation of employment and economic opportunities, creating the basis for new housing, schools, clinics and other social infrastructure. Cornubia has emerged as a highly sought after residential and business location, with rapid uptake of commercial and industrial sites by developers, end- users and investors who recognise the development's attributes. The property forms part of the Cornubia Industrial and Business Estate Management Association. We have contacted the Management Association who have advised us that the new owner/purchaser will be required to be admitted as a member and to comply with the Associations rules and regulations once commencement of development on the property. Geotechnical Investigation Report is available on request. The property is subject to various servitudes as per the SG Diagrams and Title Deed. Accommodation Details The property is currently vacant development land. Lease Details The property is currently vacant and will be sold with vacant occupation. Version 5: 21.02.2018 7 ADDITIONAL 27 TOTTUM ROAD, CORNUBIA 1318INFORMATION Old North Coast Road, Avoca (Continued) Expenses • The assessment rates for the year 2017/2018 amounts to R 5 953 722.72, which equates to a monthly figure of R 496 143.56. • The monthly levy amounts to R 20 901.42 (excluding Vat). • The CSOS levy amounts to R 40.00 per month. Vat Status The Seller is Vat registered. Version 5: 21.02.2018 8 TERMS & 27 TOTTUM ROAD, CORNUBIA 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 – 22 February 2018 @ 17h00 • 45 Day Guarantee Period • Possession on Registration of Transfer • The Purchaser is required to become a member of the Cornubia Industrial and Business Estate Management Association 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 Version 5: 21.02.2018 9 SG DIAGRAMS 27 TOTTUM ROAD, CORNUBIA 1318 Old North Coast Road, Avoca Version 5: 21.02.2018 10 SG DIAGRAMS 27 TOTTUM ROAD, CORNUBIA (Continued) 1318 Old North Coast Road, Avoca Version 5: 21.02.2018