LENASIA PROPERTY AUCTION

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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INVESTOR OPPORTUNITY

24 (2 BEDROOM UNITS) SEMI COMPLETED,

BLOCK OF FLATS!

40 PIETER UYS AVENUE, ALBERTON, GAUTENG

PROPERTY ON AUCTION

WH Auctioneers Properties (PTY)

Ltd

578 16th Road, Randjespark,

Midrand

Tel: 0115745700

www.whauctions.com

Auction Date & Time: Thursday, 2nd February 2017 – 11.30 am

Venue: ON SITE: 40 Pieter Uys Avenue, Alberton North

Auctioneers: Tim Varenzakis

Contact for further info:

Peter Skafidas Cell: 083 226 7960 • Email: peters@whauctions.com

40 PIETER UYS AVENUE

ALBERTON NORTH

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Index

1. Guideline for The Auction Page 3

2. General Page 4

3. Title Deed Information Page 4

4. Description of Improvements Page 4

5. Locality Page 5

6. Site Photographs Page 6

40 PIETER UYS AVENUE

ALBERTON NORTH

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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1. GUIDELINE FOR THE AUCTION

Auction Date & Venue: Thursday 2nd February 2017 @ 11.30am, ON SITE, 40 Pieter Uys avenue, Alberton

North. Registration: All potential buyers are required to pay a registration fee of R50 000 to bid at the auction. This

amount can be paid either by bank guaranteed cheque or EFT into the Auctioneer’s trust account. Cash will NOT be accepted at the venue.

Once registered each buyer will be issued with a buyer’s card reflecting a buyer’s number. Upon signature of the registration documents, all buyers will have acknowledged and accept the Terms and Conditions set out in the Rules of Auction. Registration Fee: R50 000.00 (Refundable to unsuccessful bidders) Deposit: 21.4% of hammer price Confirmation period: 7 business days.

Balance of the purchase price payable within 21 business days after confirmation of sale. The bid price excludes the buyer’s premium and Vat (Vat added as this property is Vat registered) which is payable over and above the purchase price.

Example: Highest bid with buyer’s premium

Bid Price: R 1 000 000.00 + Vat 14% R 140 000.00 + Buyers comm (10%) R 100 000.00 + Vat on Buyer’s Premium R 14 00.00 Total Purchase Price R 1 254 000.00

The auctioneers have the right to regulate the bidding at the auction and to bid on behalf of the seller up to (but not exceeding) the reserve price as mandated by the seller. When the auctioneer knocks down the property to the highest bidder the successful bidder will sign the Conditions of Sale on the day. A deposit of 21.4% is payable on the fall of the hammer. This percentage is made up of the commission payable by the successful bidder of 10% plus VAT (namely, 11.4%) plus a 10% deposit on the purchase price of the Property.

The deposit is payable by way of a Bank Guaranteed cheque or electronic transfer. The deposit and buyer’s premium is deposited into the WH Auctioneers Trust account. For queries regarding the properties on auction contact:

Peter Skafidas 083 226 7960 WH Auctioneers offices: 011 574 5700

40 PIETER UYS AVENUE

ALBERTON NORTH

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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2. GENERAL Property Address: 40 Pieter Uys Avenue, Alberton North, Gauteng Erf & Suburb & City: Erven 167 Alberton

3. TITLE DEED INFORMATION

Deeds Office: Johannesburg Title Deed No.: T4876/2011 Zoning: Residential 1 Erf Size: 991 m² Rates & Taxes: ± R 543.00 pm

4. DESCRIPTION OF IMPROVEMENTS The subject properties consist of a triple storey building. The project is approximately 60% completed. The original plan was to build 24, two bedroom flats with parking. Four flats on ground level, 10 on first floor and 10 on the second floor. The property is sold as is. No drawing plans where submitted to the council: A traffic impact assessment has been done, (as per attachment) Application for re zoning from Res 1 to Res 4 was drawn up but not submitted.

40 PIETER UYS AVENUE

ALBERTON NORTH

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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5. LOCALITY

The subject property is in Alberton a well-established suburb close to schools, churches, shopping malls,

entertainment venues and in close proximity to major hi-ways. Predominantly a residential area with light

industrial business further north. There is a high demand for accommodation in this area for the upper lower

to middle class families.

The GPS Co-ordinates of the property are as follows:

-26.258851 / 28.130766

40 PIETER UYS AVENUE

ALBERTON NORTH

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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6. SITE PHOTOGRAPHS