SOLD!

 

Duly instructed by the owners, we will sell by means of
ON-SITE & ONLINE AUCTION

BEACHFRONT PROPERTY WITH RESTAURANT & SUPERMARKET BUSINESSES, BUFFALO BAY

Auction date: Friday, 15 July 2022
Time: 12:00
Venue: On-site & online
Address: Buffels Bay Restaurant, 1 Park Street cnr of Walker Drive, Buffalo Bay

IT’S A ONCE IN A LIFETIME OPPORTUNITY to own this iconic beachfront property with two established businesses.
Die Buffelsbaai kafee en restaurant is deel van die volksmond. ’n Meer bekende stranddorp as Buffelsbaai is daar nie, en ’n eiendom met besigheidsregte op die see is nie aldag bekombaar in die Suid Kaap nie.
Dié beleggingsgeleentheid – ’n eiendom op die hoofstrand in Buffelsbaai met gevestigde besighede wat alreeds ’n puik inkomstestroom bied, en dit nog voor daar in enige verdere potensiaal ingetap word, moet nie misgeloop word nie.

Click here to download the auction brochure: Buffelsbaai Booklet

Property description
A) The property comprises the following
• Sectional Title Unit 1 in Sectional Scheme Buffelsbaai Woonstelle [SS122/1994], measuring 1064m² (as marked in red on the photograph)
• An Undivided Share in the Common Property in the scheme apportioned to Sectional Title Unit 1 in accordance with the participation quota as per Sectional Plan.
• An Exclusive Use Area (EUA) being as such part of the Common Property, described as PARKING AREA (Number G2), measuring 753m²
• The upper and lower deck, together with the lawn enclosed with white fencing forms part of the EUA (as marked in yellow on the photograph)

B) Composition of improvements (1064m²)
• Supermarket
• Small office between supermarket and restaurant
• Restaurant with inside and outside (deck) seating areas, bar, kitchen, toilets and lower ground level store-room
• Pizza section below deck
• Fenced parking area

What is being sold on auction?
The business assets include:
• The Sectional Title properties described in A above
• The business made up of
o Recipes
o Movable assets i.e. restaurant & supermarket equipment
o Liquor License for restaurant & supermarket

Zoning | Use
Business Zone I
“The objective of this zone is to provide for intensive business and mixed-use development with relatively few restrictions n order to promote urban vitality and economic growth. This zone refers mainly to business activity in the CBD”
Consent uses include
• Adult entertainment, services & shop
• Flats on ground floor
• Freestanding base telecommunication station
• Gambling place
• Helicopter landing pad
• Motor repair garage
• Open air motor vehicle display
• Place of entertainment
• Place of worship
• Renewable energy structure
• Transport use
• Warehouse

Other
Rates & Taxes tbc

How does this auction work?
1) You can join us on-site at the restaurant in Buffalo Bay, and bid from the floor (register manually on-site)
2) You can bid online via webcast facility at MEERKAT ONLINE AUCTIONS (links to register online below)
3) We will take bids from the floor and online concurrently.
4) Online bidding opens on 13 July 2022

Download the Meerkat app to register and bid online via Livestream:

𝗦𝗮𝗺𝘀𝘂𝗻𝗴 & 𝗔𝗻𝗱𝗿𝗼𝗶𝗱: https://play.google.com/store/apps/details?id=za.co.dankospark.meerkat
𝗶𝗣𝗛𝗢𝗡𝗘 & 𝗜𝗢𝗦 𝗔𝗽𝗽𝗹𝗲: https://apple.co/2yDd362
𝗛𝘂𝗮𝘄𝗲𝗶: https://appgallery.huawei.com/app/C104745269
𝗕𝗶𝗱 𝗟𝗜𝗩𝗘 𝗼𝗻 𝗼𝘂𝗿 𝘄𝗲𝗯𝘀𝗶𝘁𝗲: www.meerkatonline.co.za

For technical support:
Schalk 076 226 3434
Mariaan 064 214 7487
Ro’an 082 567 0069

 

Conditions of Sale
• Purchaser pays 10% deposit & 5% commission (plus VAT) on day of auction.

• There will be a period for higher offers after the auction. One confidential higher offer per purchaser is allowed after the auction, which will close on 20 July 2022 at 12:00 noon. Any offer made after the auction will only be regarded as a valid offer if the deposit and auctioneer’s commission have been paid and cleared into the auctioneer’s bank account and the offeror has signed the Conditions of Sale before July 20th at 12:00 noon. The sale shall be subject to confirmation by the Seller by 22 July 2022; however the Seller may accept or decline the offer before 22 July 2022.

• The highest bidder will be held bound to his bid until 22 July 2022.

• Balance purchase price payable against registration of transfer.

• The Purchaser shall within 30 days of acceptance of this offer by the Seller, furnish the Seller’s Conveyancers with a guarantee by a registered financial institution and acceptable to the Seller, for the payment of the balance of the purchase price.

• VAT payable on purchase price by the Purchaser however all endeavours will be made to effect a zero-rated transaction as the property is being sold as a going concern.

• OCCUPATION and POSSESSION of the property shall be given by the Seller to the Purchaser on the date of registration of transfer into the name of the Purchaser, when all benefit and risk in the property shall pass to the Purchaser.

• All conveyancing work in connection with the transfer of this property shall be
effected by the Seller’s attorneys. All costs to the giving and taking of transfer and
registration will be paid for by the Purchaser.

• The Seller shall be bound to provide on date of registration, if needed, at his cost the following:
– COC for electrical installation
– COC for gas installations
– certificate that confirms that the property is free from timber infestation

• Property sold VOETSTOOTS

 

Enquiries

Daniel van Schalkwyk 083 255 4245

Wiidke Burger 0833 777 390