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Live Auction Of Large Shopping Mall, Underberg, Kwazulu Natal - South Africa - #76

Live Auction, Started: 18 Nov 2014 1:00 AM PST

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Natal Midlands Properties (Pty) Ltd (In Liquidation) Masters ref: N20075/2014
Live auction of large shopping centre known as Underberg Village Mall comprising of 31 shops located along Sani Road within very close proximity to Himeville, just north of Underberg
Underberg Village Mall (Largest shopping centre) within the town of Himeville

General Description

The property is a large shopping centre, known as the Underberg Village Mall situated on Portion 4 of Erf 13, Underberg, located on Sani Road. The Underberg Village Mall is the largest shopping centre within the town, with very close proximity to Himeville and just north of Underberg. The mall comprises 31 individual shops and the total improvement size measures approximately 5,496 m². Amongst these 31 shops, the store boasts a large double volume anchor tenant shop (over 1,500 m²), 11 supporting anchor stores between 100 m² and 280 m², whilst the remaining 19 stores are less than 100 m² each. Ancillary to the shopping units within the centre, the mall also offers a parking lot which exceeds 5,500 m² with ample parking space. Furthermore, there is a large delivery yard, 2 restroom sectors which each accommodates male, female and family facilities, whilst cleaning stores and covered walkways make up the remainder of the improvements.

For locality of the property, click here

Executive summary

  • Portion 4 of Erf 13, Underberg  -  Erf extent: 5.7736Ha
  • Underberg Village Mall, Along Sani Road
  • Zoning: Commercial

Auction notes:
Purchase price may be subject to VAT
Rules of Auction & Conditions of Sale
Notice to purchasers:
Buyers premium: 0%   Deposit of 10% immediately after the sale, balance of the purchase price on registration of transfer. No buyer's premium
VAT/Tax: 14%
Inspection details: Strictly by appointment only
Payment type: Wire Transfer
Additional notes: This auction is governed by the Consumer Protection Act – Act 68 of 2008 (South Africa), and further reference to the Act and the regulations can be downloaded here
Consumer Protection Act 68 of 2008 click here
Consumer Protection Act 68 of 2008 - Regulations click here
The Bidders attention is drawn to the following:
  • The Rules of Auction can be found under the downloadable documents tab
  • The property will be sold “Voetstoots” and on “AS IS – WHERE IS” condition. It is the buyer’s responsibility to perform an inspection of the property prior to the auction
  • The Sale of the Property is non-suspensive and not subject to any feasibility or any other condition required by the buyer
The Sale by auction is subject to
  • A reserve or upset price
  • All prospective bidders must register prior to the auction and such registration requires proof of identity and residence (FICA) as contemplated in regulation 26;
  • R10 000.00 refundable deposit may be payable by a bank guaranteed cheque or Electronic Fund Transfer (EFT). Kindly provide proof of deposit
  • The auctioneer may bid for any lot or lots offered for sale at the Auction on behalf of third parties
  • The Auctioneer may bid for any lot or lots offered for sale at the Auction on behalf of seller but, if on behalf of the seller, not at or in excess of the reserve price
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Currency: South Africa Rand
Auctioneer: GoIndustry DoveBid S.A. (Pty) Ltd.
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Downloadable Documents
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Event Information
Location: Underberg Village Mall, Along Sani Road, Underberg
Started: 18 Nov 2014 1:00 AM PST

Contact Details
Contact: Franz Bobbert
Telephone: +27 (0)83 630 5532
Shipping Information
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