RETAIL INVESTMENT FOR SALE BY GILLITTS SHOPPING CENTRE, 16 YORK AUCTION ROAD, GILLITTS, KWAZULU-NATAL WEB#: AUCT-000344 | www.in2assets.com ADDRESS: Gillitts Shopping Centre, 16 York Road, Gillitts, Kwa-Zulu Natal AUCTION VENUE: The Durban Country Club, Isaiah Ntshangase Road, Durban AUCTION DATE & TIME: 06 December 2016 | 11h00 VIEWING: By Appointment CONTACT: Carl Kleinhans | 082 467 5664 | 031 574 7600 | [email protected] REGISTRATION FEE: R 50 000-00 (Refundable Bank Guaranteed Cheque) AUCTIONEER: Andrew Miller 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. The Rules of Auction contain the registration requirements if you intend to bid on behalf of another person or an entity. The above property is subject to a reserve price and the sale by auction is subject to a right to bid by or on behalf of the owner or auctioneer. CONTENTS GILLITTS SHOPPING CENTRE, 16 YORK ROAD, GILLITTS, KWAZULU-NATAL 1318 Old North Coast Road, Avoca CPA LETTER 2 PROPERTY DESCRIPTION 3 PROPERTY LOCATION 5 PICTURE GALLERY 6 ADDITIONAL INFORMATION 8 LETTER OF INTEREST 10 TERMS AND CONDITIONS 12 SG DIAGRAM 13 ZONING CERTIFICATE 16 SECTIONAL TITLE PLANS 18 BODY CORPORATE RULES 31 CERTIFICATE OF REAL RIGHT 35 TITLE DEED 38 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 3: 05.12.2016 1 CPA LETTER GILLITTS SHOPPING CENTRE, 16 YORK ROAD, GILLITTS, KWAZULU-NATAL 1318 Old North Coast Road, Avoca In light of the Consumer Protection Act which came into effect on 1 April 2011, 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. Should you require any further assistance or have any questions or queries, please do not hesitate to contact us. Version 3: 05.12.2016 2 PROPERTY GILLITTS SHOPPING CENTRE, 16 YORK ROAD, GILLITTS, KWAZULU-NATAL 1318 Old North Coast Road, Avoca DESCRIPTION General Property Address Gillitts Shopping Centre, 16 York Road Township & Province: Gillitts, KwaZulu-Natal Title deed information – Property 1-11 Scheme Title Deed Unit Scheme Name Registered Owner Extent Number/Year Number 1 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 402 m² 2 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 2 m² 3 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 80 m² 4 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 398 m² 5 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 306 m² 6 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 13 m² 7 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 14 m² 8 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 7 m² 22 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 14 m² 23 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 28 m² 31 SS Gillitts Shopping Centre 682/1995 ST59616/2008 Capstone 1597 CC 758 m² Title deed information – Property 12-17 Exclusive Use Scheme Title Deed Scheme Name Registered Owner Extent Area Number/Year Number Garden Area (G1) SS Gillitts Shopping Centre 682/1995 SK5011/2008S Capstone 1597 CC 2000 m² Garden Area (G2) SS Gillitts Shopping Centre 682/1995 SK5010/2008S Capstone 1597 CC 80 m² Yard Area (Y1) SS Gillitts Shopping Centre 682/1995 SK5010/2008S Capstone 1597 CC 34 m² Yard Area (Y2) SS Gillitts Shopping Centre 682/1995 SK5011/2008S Capstone 1597 CC 418 m² Yard Area (Y3) SS Gillitts Shopping Centre 682/1995 SK5011/2008S Capstone 1597 CC 150 m² Yard Area (Y4) SS Gillitts Shopping Centre 682/1995 SK5011/2008S Capstone 1597 CC 546 m² Version 3: 05.12.2016 3 PROPERTY GILLITTS SHOPPING CENTRE, 16 YORK ROAD, GILLITTS, KWAZULU-NATAL 1318 Old North Coast Road, Avoca DESCRIPTION (continued) Title deed information – Property 18 Notarial Cession of Real Right No: SK5009/2008 Registered Owner: Capstone 1597 CC Property Description: All the undermentioned Development Rights to erect and complete from time to time within a period of 25 (Twenty Five) years building or buildings in terms of Section 25(1) (a) of the Sectional Titles Act in the scheme known as GILLITTS SHOPPING CENTRE in respect of the land and building or buildings situated at GILLITTS, In the KwaZulu Natal Metropolitan Area, as shown on Sectional Plan No. SS 682/95 approximately 1 720 m². In Extent: 1 720 m² All of which erected on: Portion 3 of the Farm Fenwick No. 14843 Municipal information The local authority in which the property is situated is the eThekwini Municipality. According to the permitted zoning scheme the parent property is zoned as follows: Town Planning Information Zoning: General Commercial 1 FAR: 0.40 Coverage: 20 % Height: 2 Storeys Front: 7.5m Side: 3m Rear: 3m Parking: Depends on use Version 3: 05.12.2016 4 PROPERTY GILLITTS SHOPPING CENTRE, 16 YORK ROAD, GILLITTS, KWAZULU-NATAL 1318LOCATION Old North Coast Road, Avoca The subject units form part of a scheme known as “Gillitts Shopping Centre”. It is a mixed use type property comprising ground floor shops and some first floor residential units. The complex is situated at the heart of Gillitts, just east of the suburb of Hillcrest. This area of Gillitts comprises of middle to upmarket freehold dwellings, offices, and retail complexes. Access to the property is off Clifton Road, which in turn links to Old Main Road, and then to the M13 Highway. Old Main Road is the main access road of Kloof. Most amenities are situated within the immediate vicinity of the subject property. The area includes excellent schooling facilities such as Thomas Moore College, St Mary’s Diocesan and Kloof High School. The Wyebank Municipal Clinic is nearby and the Kloof Country Club is just south of the M13. SUBJECT PROPERTY: Gillitts Shopping Centre, 16 York Road, Gillitts, KwaZulu-Natal Version 3: 05.12.2016 5 PICTURE GILLITTS SHOPPING CENTRE, 16 YORK ROAD, GILLITTS, KWAZULU-NATAL 1318GALLERY Old North Coast Road, Avoca Version 3: 05.12.2016 6 PICTURE GILLITTS SHOPPING CENTRE, 16 YORK ROAD, GILLITTS, KWAZULU-NATAL 1318GALLERY Old North Coast Road, Avoca (continued) .5 Version 3: 05.12.2016 7 ADDITIONAL GILLITTS SHOPPING CENTRE, 16 YORK ROAD, GILLITTS, KWAZULU-NATAL 1318INFORMATION Old North Coast Road, Avoca Primary use The sale consists of all 11 retail components of the fully tenanted Gillitts community Shopping Centre. The remaining sections are used for offices and are owned by other individuals. There is a Real Right portion of land which is attached to the sale which will be ideal for either a community supermarket or a fast food drive-thru. Expressions of interest for both have been received from national retailers. G1, Y2, Y3 & Y4 are exclusive use areas for Section 31 G2 & Y1 are exclusive use areas for Section 5 Real Right to develop land of ±1 720 m² Capstone 1597 CC, or its successor in title, holds in accordance with the Notarial Deed of Cession No. SK005009/08, a twenty five (25) year right to erect further building or buildings on the specified part of the common property.