Highest bid fetched on auction is R 1 825 000 plus auctioneer’s commission.

Period for higher offers closes on Wed, 1 December at 12 noon.

More info: Daniel 083 255 4245 or Wiidke 0833 777 390

ON-SITE PUBLIC AUCTION

Centrally located commercial property with 2 tenants, George

Auction date: Friday, 26 November 2021
Time: 11:00
Venue: On-site, 44 Albert Street, George

Superbly located commercial property in Albert Street. Income generating with 2 established tenants.

 

Property description
• Erf 17156 George
• Extent: 749m²
• Address: 44 Albert Street

Please click on the following link to view the updated Auction Information Brochure AUCTION BROCHURE

Tenants
1) Reroute 62 Sports Bar & Grill
2) Sparkle & Shine Car Wash

Tenant	Rent pm (as per current lease)
Reroute 62 Sports Bar & Grill	± R 8 700 (01/05/2021 – 30/04/2022) ± R 9 300 (01/05/2022 – 30/04/2023)
Sparkle & Shine Car Wash	± R 6300* (01/05/2021 – 30/04/2022) ± R 6800* (01/05/2022 – 30/04/2023) *Excluding water usage pm
Total	± R 15 000 pm

 

Improvements
• Brick and mortar building measures in total ±192m²
• 3 sets of canopies
• Paved yard space

“Reroute 62 Sports Bar & Grill” building consists of:
• front/enclosed stoep
• bar and dining areas
• pool room
• kitchen
• ablutions
• Separate electricity meter

“Sparkle & Shine Carwash” section of the building and premises consist of:
• 3 Canopies
• Paved open space between carports
• Office
• Kitchen
• Courtyard
• Ablutions
• 10 000ℓ water tank
*2 wendy houses not included as a fixture (belongs to tenant)

 

Zoning | Use
Business Zone 1

 

Access & Parking
Two access points service this stand – one from Albert Street and one from the adjacent stand (the Engen garage).
5 off-street parking bays.

 

Liquor License
The property has a registered Liquor License issued by the Liquor Board of the Western Cape

 

Heritage Status
The main building has Heritage Status.

 

Municipal information
Municipal Valuation: tbc
Rates & Taxes: tbc

 

Summary of Auction Conditions of Sale
• 10% deposit & 5.75% commission (VAT incl.) payable on day of auction
• There will be a period for higher offers after the auction, which will close on 1 December 2021 at 12:00 noon. The sale shall be subject to confirmation by the Seller by 3 December 2021; however the Seller may accept or decline the offer before 3 December 2021.
• Balance purchase price payable against registration of transfer
• OCCUPATION on registration of transfer
• Transfer Duty payable on purchase price
• Property sold VOETSTOOTS