Property Showcase

Multi-Tenanted Property with Redevelopment Potential

This multi-tenanted commercial property presents an attractive investment opportunity, offering existing rental income together with significant potential for future redevelopment. Positioned in a highly visible and accessible location, the property benefits from substantial land and improvements suitable for a range of commercial and industrial applications.

Improvements: ± 4500m² excluding the silos
Stand size: ± 6676m²
Gross Annual Income: ± R1 000 000
Power: 500 kVA transformer feeding a 250-amp circuit breaker, together with a further 500 kVA and 1000 kVA transformers currently not in use.
Multiple offices, warehouses and storage

Highlights
Multi-Tenanted with upside potential for leasing additional spaces as well as signage
Business Zone 3: The current zoning supports a range of commercial and retail uses, light industrial and low density student accommodation.
Vacant Silos: The existing vacant silos add a distinctive element to the property and may offer opportunities for adaptive reuse or redevelopment.
Convenient access to major road networks supports the movement of goods, staff and customers, making the property well suited to a range of commercial and industrial operations.

Prominent positioning with good exposure and street frontage, offering convenient access for commercial and industrial operations.

Web Ref: 119401

Industrial

3 Dryer Street, Arcadia, KuGompo City, Eastern Cape

Eastern Cape

Sales Executive

Tamzin Herbst

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Auction Pre-Registration

Please complete the form below to pre-register for the auction.

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Auction

Property

How will you be paying your registration deposit?

(A registration fee is applicable. Please see the relevant property investor pack to find out what the registration fee is.) In the event that a cash deposit is made, the Depositor will be liable for the bank charges relating to that transaction.

Kindly use your name and surname as a reference when making deposits into our account.

Bank: FNB
Branch: Melrose Arch 254405
Acc No: 62286710770
Name: The High Street Auction Company (Pty) Ltd

Please bring the following to the auction:
1. Proof of payment
2. Copy of ID
3. Proof of residence
4. Letter of authority to sign on behalf of a juristic authority

Bidding Terms & Conditions

1. Acknowledges and understands that he/she shall not be entitled to bid until such time as the Auctioneer's registration fee has been paid or secured to the Auctioneer's satisfaction, this registration fee is refundable should he/she not be the highest bidder. The signatory further acknowledges that in the event that the signatory is the successful bidder, the registration fee will be allocated against the signatory’s payment obligations in terms of the Offer to Purchase to be executed by the Signatory pursuant to the auction.

I Acknowledge

2. Acknowledges that any funds paid to the Auctioneer, being the registration fee or the balance of the deposit due in terms of the conditions of sale must be refunded into the bank account the funds are paid from in compliance as an Accountable Institution in terms of the Financial Intelligence Centre Act 2001 (Act No. 38 of 2001) and Money Laundering and Terrorist Financing Control Regulations.

I Acknowledge

3. Acknowledges himself/herself to have read, understood and be bound by: the Auctioneer's terms and conditions of auction, the rules of auction; and has complied with FICA requirements i.e. scanned and emailed copies of his/her ID book, proof of residence and letter of authority to sign on behalf of a juristic entity . The bidder to identify him/herself prior to the virtual/electronic auction.

I Acknowledge

4. Acknowledges and understands that, in respect of lots subject to a reserve, should his/her bid be knocked down as the highest bid in respect of any lot bid upon, such bid shall constitute an irrevocable offer to purchase the relevant lot at such price, which offer shall remain open for acceptance by the seller of the lot for a period of 5 business days or as specified in the conditions of sale;

I Acknowledge

5. Acknowledges and understands that, in respect of lots not subject to a reserve, should his/her bid be knocked down as the highest bid in respect of any lot bid upon, then such lot shall be deemed to have been sold to the bidder at such bid;

I Acknowledge

6. Acknowledges and understands that any sale of immovable property by way of public auction shall be binding on the bidder, and does not need to be recorded in a written agreement, in accordance with the provisions of Section 3(1) of the Alienation of Land Act 68 of 1981.

I Acknowledge

7. Acknowledges and understands, notwithstanding the contents of paragraph 4 above, that should his/her bid be the highest bid on any lot, he/she will then be obligated to sign the Auctioneer's conditions of sale by public auction, which agreement cannot be amended in any way and the bidder acknowledges to have acquainted himself/herself therewith; The Auctioneer’s conditions of sale agreements can be downloaded or viewed online.

I Acknowledge

8. Acknowledges that, should his/her bid be knocked down as the highest bid in respect of any lot bid upon, a buyer’s premium of 10% plus VAT shall be payable over and above the bid price, unless otherwise stated;

I Acknowledge

9. Warrants, in the event that he/she is bidding on behalf of another person/company/close corporation or trust, that he/she has all necessary authority to do so and to bind such party to any consequent sale, and will produce written proof of such authority upon request.

I Accept

10. Acknowledges that in the event of the Auctioneer declaring a bid to have been knocked down, such declaration shall be deemed to constitute the fall of the hammer and the bidder shall be liable for performance.

I Acknowledge

11. The Auctioneer will take all reasonable steps to comply with the requirements of a virtual/electronic auction but it cannot be held liable for any damage (direct or indirect) insofar as it may be found that any such damage has been suffered by the bidder as a result of any non-compliance with these requirements and neither the AGENT’s negligence nor gross negligence shall found such a claim.

I Accept

12. The bidder (on behalf of the Purchaser) acknowledges that it was afforded a reasonable period of time and opportunity to inspect the Property prior to the commencement of the auction as contemplated in terms of Regulation 28(5)(b) of the CPA, which inspection the Auctioneer has provided to the Purchaser electronically as a virtual/electronic tour of the Property due to the laws currently in place as a consequence of the COVID -19 Pandemic which precludes the possibility of a traditional / physical inspection of the Property.

I Accept

13. The Parties acknowledge that the auction will be conducted in accordance with Regulation 30 to the CPA and that the auction will meet all the requirements of auction sales duly amended so as to apply to a virtual/electronic platform to wit:
- The relevant platform has been available to anyone over the age of 18 years;
- The platform provides industry level standards of security for electronic transactions;
- The platform provides for easy access to all records prescribed in the Regulations in a generally used or accepted medium or format;

I Acknowledge

14. The bidder further agrees that he/she has viewed the property and that he/she has ascertained the state of the property, pursuant to having been provided with a complete virtual/electronic tour of the property and is satisfied that he / she has exercised his / her right to inspect the property prior to the commencement of the auction.

I Accept

15. The Auctioneer may require the execution of documents to be performed by means of electronic signature and/or contemporaneous remote view together with the exchange of documents to be performed by electronic means (such as scanning and emailing).

I Acknowledge

DISCLAIMER: Whilst reasonable precautions have been taken in compiling the information contained in this document, neither the seller nor the Auctioneer shall be liable for any loss, damage or expense whatsoever or howsoever caused, arising from reliance on any information provided, nor do they guarantee the completeness or accuracy thereof, the duty at all times resting on the Purchaser to conduct its own due diligence inspections relating to the property/ies referred to herein in order to verify the information reflected, and the purchaser’s participation in any auction or private treaty sale based upon such information shall be entirely at its own risk and in acceptance of the aforegoing.

The Auctioneer will take all reasonable steps to comply with the legal requirements of a virtual/electronic auction but it cannot be held liable for any damage (direct or indirect) insofar as it may be found that any such damage has been suffered by any party as a result of any non-compliance with these requirements.

The Purchaser or the bidder (on behalf of the Purchaser) acknowledges that it was afforded a reasonable and sufficient period of time and opportunity to inspect the Property prior to the commencement of the auction as contemplated in terms of Regulation 28(5)(b) of the CPA, which inspection the Auctioneer provided electronically as a virtual/electronic tour due to the laws currently in place as a consequence of the COVID -19 Pandemic which precludes the possibility of a traditional / physical inspection of the Property.

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