willmeg investments (pty) ltd (in business rescue) …

THE SQUARE

4 CHATTERTON ROAD

Town Hill, Pietermaritzburg

(Kwa-Zulu Natal Province)

Unit No. 10, Ferndale Mews North Tel: (011) 789-4375 Cnr Oak Ave & Dover Road Fax: (011) 789-4369 Ferndale, Randburg 2194 Fax: (011) 886-5274 PO. Box 2871, Randburg 2125

[email protected] www.parkvillageauctions.co.za

WILLMEG INVESTMENTS (PTY) LTD (IN BUSINESS RESCUE)

MULTI-TENANTED SHOPPING CENTRE

PORTION 45 OF ERF NUMBER 1556 PIETERMARITZBURG, DISTRICT OF THE MSUNDUZI LOCAL MUNICIPALITY, KWA-ZULU NATAL PROVINCE

mailto:[email protected]

http://www.parkvillageauctions.co.za/

2

Whilst all reasonable care has been taken to provide accurate information, neither The Agents nor the Seller/s guarantee the accuracy of the information

CONTENTS

1. Disclaimer .................................................................................. 2

2. Deposit Payable ......................................................................... 3

3. Agreement of Sale ..................................................................... 3

4. Property Description ................................................................. 5

5. Rental Income .......................................................................... 6

6. Annexures ................................................................................ 7

a. Windeed

b. SG Diagram

c. Municipal Account

DISCLAIMER Whilst all reasonable care has been taken to provide accurate information, neither The Agents

nor the Seller/s guarantee the accuracy of the information and neither will be held liable for any

loss or damages resulting from any errors or omissions in the information herein provided,

whether due to the negligence or otherwise of The Agents or the Sellers or any other person.

3


R1 000 000.00 (One Million Rand) refundable deposit payable on submission of offer into the Seller’s Trust Account: Account Name: Schoerie and Sewgoolam Attorneys Bank: Absa Bank Account No: 4060251877 Branch Code: 632005 Ref: Purchasers Name Balance of the 10% deposit (less the R1 000 000.00) will be payable on acceptance by the Business Rescue Practitioner and adoption of the Business Rescue Plan. All offers received will be submitted to the Business Rescue Practitioners for consideration. The Business Rescue Practitioners reserve

the right to accept or not to accept any offer or combination of offers.

Deposit: Balance of 10% deposit of the Purchase Price payable on Acceptance of Offer by the Business Rescue Practitioner (less the R1 000 000.00 paid on submission of the offer)

Commission: Buyer’s commission of Four (4%) plus VAT payable on

Acceptance of Offer Occupation: Date of Registration of Transfer Risk, Control & Insurance: The sole risk and control and benefit in and to the property

shall, unless otherwise agreed in writing and signed by both parties, pass to the Purchaser on the date of registration of transfer into the Purchaser’s name and from that date, the Purchaser shall be liable for all imposts levied on the property, inclusive of and without limiting the generality hereof, all municipal rates and taxes, licences and other official and/or municipal and consumable charges.

Transfer Duty / VAT: The Seller is a registered VAT Vendor and VAT at 15% on the

purchase price is payable.

OFFERS: Offers may be submitted to [email protected] for attention

of Mr John Taylor

OFFER DOCUMENTS

AGREEMENT OF SALE

DEPOSIT PAYABLE

4


The subject property is along a commercial node in the suburb of Town Hill situated on Chatterton Road to the immediate North West of the Pietermaritzburg CBD. Chatterton Road is a main arterial route feeding both North and South-bound traffic from the N3 Highway into the Pietermaritzburg CBD with consequently high volumes of passing traffic. The subject THE SQUARE has good exposure to passing traffic on Chatterton Road with a key tenant and drawcard, being a Nando’s outlet located on the Chatterton Road perimeter of the property.

LOCATION

5


PROPERTY DETAIL: Property Address: Number 4 Chatterton Road, Cnr Parking Road, Town Hill,

Pietermaritzburg, Kwa-Zulu Natal Province GPS co-ordinates: -29.589902, 30.3761060 City & Province: Pietermaritzburg, Kwa-Zulu Natal Province Description: Strip shopping centre. TITLE DEED INFORMATION: Registered Owner: Willmeg Investments (Pty) Ltd Registered Description: Portion 45 Erf Number 1556 Pietermaritzburg, District of the

Msunduzi Local Municipality, Kwa-Zulu Natal Province Title Deed Number: T3874/2014 PROPERTY DESCRIPTION: Stand: The stand is roughly rectangular in proportion with the shorter

perimeter having street frontage onto Chatterton Road. The topography of the stand is even.

The Improvements: The property has been improved with a single strip-like shopping

centre complex of face brick walling fitted with aluminium framed glazing and shop front windows under a pitched IBR roofing structure comprising six (6) retail stores with cloakrooms and open customer parking at the front of the building.

Fittings & Fixtures: The building is fairly recently constructed with modern finishes. Electrical Installation: The electrical supply is via the Msunduzi Local Municipality Parking: Locate at the front of the building are open customer parking

bays.

PROPERTY INFORMATION

6


Physical Condition: The improvements appear to be in good physical condition with

no apparent major structural defects, currently being well maintained

Fire Risk Assessment: No recent Fire Risk Assessments Report for the subject building

is available. MUNICIPAL INFORMATION:

Municipal Valuation: Land & Improvements: R 37 100 000.00 Total: R 37 100 000.00 Rates & Taxes: Account Number: 03389233 Monthly Rates: R68 635.00 Rating: Business & Commercial

RENT ROLL / TENANT SCHEDULE: The subject property is multi-tenanted with Nando’s as the anchor tenant. A summary of the rent roll for July 2020 is included below. Full particulars of the below Leases and Lease Agreements are available electronically in the Data Room. Please contact John Taylor (mobile: 082-416-3883) for access and link to Data Room, as well as copies of prospectuses. A full copy of all the leases will be available in the Data Room. A Non-Disclosure Agreement must be signed

before access is given.

Tenant Area (m²) Rate/m² Esc Monthly Rental

PMB Food Services - RJ's Rib Steakhouse 420 R 194,40 8,0% R 81 648

Rip Curl 357 R 84,89 8,0% R 30 305

Essence Deli Café 244 R 185,90 8,0% R 45 360

SHF PMB 1 090 R 149,91 8,0% R 163 400

Nando's Chickenland 330 R 264,48 8,0% R 87 278

ACDC Dynamics (Electrical) 722 R 146,93 8,0% R 106 085

Total 3 163 R 162,53 R 514 076

TENANT SCHEDULE

7


WINDEED PROPERTY REPORT

WinDeed Property Report Township PIETERMARITZBURG, Erf 1556/45

REGISTERED PROPERTY DETAILS

Property Type ERF Diagram Deed T51498/2008 Erf Number 1556 Registered Size 7437.0000SQM Portion Number 45 Municipality MSUNDUZI Township PIETERMARITZBURG Province KWAZULU NATAL Registration Division FT Coordinates (Lat/Long) -29.589902 / 30.376160 Deeds Office PIETERMARITZBURG

PROPERTY INFORMATION

Address CHATTERTON ROAD, TOWN HILL, PIETERMARITZBURG/MSUNDUZI

Primary Use -

Estate -

Room Configuration

Bedrooms - Reception Areas -

Bathrooms - Study/Office - Kitchens - Internal Finishes -

OWNER DETAILS

Owner 1 of 1

Person Type COMPANY Title Deed T3874/2014 Name WILLMEG INVESTMENTS

PROPRIETARY LIMITED Purchase Date 2013/10/24

Registration Number 200501641007 Purchase Price (R) 26,500,000 Share (%) - Registration Date 2014/02/12

MAPS

8


MUNICIPAL VALUATION

Municipal Valuation R 29 000 000.00 Valuation Year 2014 Zoning Usage -

Price (R) R/m2 Extent (m2)

Highest Priced Property 55,900,000 5,590 10 000

Average Priced Property 7,860,496 1,944 4 043

Lowest Priced Property 550,000 1,507 365

BONDS AND OTHER DOCUMENTS

Document Number Amount (R) Holder

B12925/2019 42,110,000 NEDBANK LIMITED

B2195/2014 40,000,000 NEDBANK LIMITED

SALES

Sales shows the details of the most recent transfers, sales pending registration and properties for sale in close proximity to the specified property.

Recently Registered Transfers

Address / Property Description Size (m2) Sales Price (R) Distance (m) Sold Transferred

A CHATTERTON ROAD TOWN HILL 10 000 55,900,000 331 2019/06/06 2020/01/24

B CHATTERTON ROAD TOWN HILL 20 000 32,800,000 303 2017/09/29 2019/01/08 C PIETERMARITZBURG, 9147, 2 20 000 2,747,441 291 2007/08/30 2017/08/15

D 391 GREYLING STREET PIETERMARITZBURG NORTH

1 758 9,400,000 397 2017/09/21 2018/05/15

E 19 BOSHOFF STREET PIETERMARITZBURG NORTH

622 950,000 384 2015/11/17 2018/03/15

F 19 HYSLOP ROAD ATHLONE 863 2,185,000 436 2017/10/01 2018/12/20

G 17 HYSLOP ROAD ATHLONE 949 1,230,000 439 2017/08/03 2018/11/06 H 15 HYSLOP ROAD TOWN HILL 1 274 1,820,000 445 2017/08/03 2018/11/06

Properties For Sale

Address / Property Description Size (m2) Listing Price (R) Distance (m) Listed 8 MYHILL ROAD TOWN HILL - 1,385,000 480 2019/01/09

PIETERMARITZBURG (DETAILS WITHHELD *) - 1,590,000 501 2018/12/14

MYHILL ROAD ATHLONE - 1,289,000 496 2018/03/29

8 MELBOURNE AVENUE ATHLONE - 2,300,000 616 2019/01/07 PIETERMARITZBURG (DETAILS WITHHELD *) - 2,350,000 616 2018/11/19

PIETERMARITZBURG (DETAILS WITHHELD *) - 2,350,000 650 2018/11/30

WEMBLEY - 429,000 652 2017/12/06 WEMBLEY - 429,000 652 2017/10/12

342 BOOM STREET PIETERMARITZBURG - 5,500,000 701 2018/05/21

10 CORDWALLES ROAD WEMBLEY - 2,550,000 1 027 2019/02/08

PIETERMARITZBURG (DETAILS WITHHELD *) - 450,000 1 034 2018/05/30 10 CORDWALLES ROAD WEMBLEY - 2,590,000 1 055 2018/05/22

10 MUNRO AVENUE ATHLONE - 1,295,000 1 066 2018/05/09

* The property location has been withheld at the estate agent's request and is not visible in the Sales Map.

Sales Analysis

30 properties used in the analysis. Note: Where there is no monetary value or extent it has been ignored.

9


SG DIAGRAM

10


MUNICIPAL ACCOUNT

11


NOTES _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

willmeg investments (pty) ltd (in business rescue) …

Documents