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Insolvency Auction Of Commercial/Industrial Building, King Williams Town, Eastern Cape#312

Live Auction, Started: 19 Jul 2018 3:00 AM PDT

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Duly instructed by the trustees in the Insolvent Estate M.G.H Dada Mia. Masters Ref No: E000003/2018
Insolvency auction of commercial/Industrial building, King Williams Town, Eastern Cape#312 - With rental potential and boasting an extent of ±809m²
General description:
Commercial building currently being tenanted to operate as a spaza shop and a gym.

The gym building offers:
  • Open plan gym area
  • Men’s bathroom – 2 showers & 1 toilet
  • Women’s bathroom – 2 showers & 1 toilet
  • Available parking in front of the premises

    The spaza shop building offers:
  • 1 en-suite bedroom
  • 1 toilet
  • Kitchen used as storage room
  • Lounge used as storage room
  • Available parking in front of the premises

    Situated along Wodehouse Street off the N2 National Road within King Williams Town.
    For locality of the property, click here

    Executive summary:
  • Erf 2078 King Williams Town, Eastern Cape
  • 1 Wodehouse Street, King Williams Town Central
  • Extent: ±809m²

  • Auction notes:
    Please note that in order to register to this auction we require; proof of payment and FICA documentation
    Notice to purchasers:
    Buyers premium: 5%   Deposit of 10% and buyer's premium of 5% plus VAT immediately after the sale, balance of the purchase price on registration of transfer
    VAT/Tax: 15%
    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
    Consumer Protection Act 68 of 2008 - Regulations
    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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    Event Information
    Location: 1 Wodehouse Street, King Williams Town
    Started: 19 Jul 2018 3:00 AM PDT

    Contact Details
    Contact: Carlo Maulgas
    Telephone: +27 63 691 5813
    Telephone 2: +27 21 702 3206
    Shipping Information
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