Tuesday, October 16

Kraaifontein property set in ‘ripe market’

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The upcoming auction of a Kraaifontein commercial property will offer bidders an interesting choice: they may opt to purchase the land and building only, or buy the property together with the existing business - an established car dealership - on the

The upcoming auction of a Kraaifontein commercial property will offer bidders an interesting choice: they may opt to purchase the land and building only, or buy the property together with the existing business – an established car dealership – on the premises.

Situated just off the main road in Kraaifontein, behind a Shell garage and Pick n Pay and Steers outlets, the property spans 1145m² in its entirety, says Tanya Jovanovski, franchisee of Rawson Auctions Western Cape.

“It comprises the main building – which has three offices, a kitchen and toilets – and parking for 10 cars within the building and 10 cars outside.”

Jovanovski says the dealership also has an on-site financing facility that can provide loans from two major banks.

The entire property is surrounded by electric fencing and access is controlled by means of remote-controlled gates.

In Jovanovski’s view, Kraaifontein is “a ripe market” for any commercial enterprise as the area encompasses several residential areas, including Windsor Park, Scottsville, Belmont Park and Bonny Brook.

The reserve price for the land and building is R2.95million; and for the land, building and existing business, which will be sold as a going concern, R4m. However, all offers will be considered.

Jovanovski says Rawson Auctions is obliged by law to market the property at the listed reserve price.

A “reserve price” is the minimum rand amount the seller will accept as the winning bid, and is not necessarily the property’s market value, nor the amount the property is likely to be sold for on the day of the auction.

The seller reserves the right to consider all offers.

The auction will be by silent tender, with written offers to be submitted in sealed envelopes. Tenders will close at noon on September 27.

The seller is registered for VAT so no transfer duty will be payable.

No registration fee is required to bid with Rawson Auctions. However, the buyer will be required to pay a deposit of 5% of the purchase price, as well as 10% commission plus VAT over and above the purchase price, to Rawson Auctions on the seller’s acceptance of the bid.

Bidders are required to be registered and must have with them certified copies of their identity documents and proof of residence.

All offers must be submitted on Rawson Auctions’ Offer to Purchase form with its standard terms and conditions. A copy of the form can be obtained by contacting the Rawson Auctions Western Cape office on info@rawsonauctions.com or by calling 0218371700.

Bids can be delivered to the Rawson Property Group’s head office at 222 Main Road, Rondebosch.

For more details or an appointment to view the property, call Tanya Jovanovski or the Rawson Auctions Western Cape office on 0218371700.

Weekend Argus Auctions

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