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POA

Commercial Property On Auction in Rugby

2,3,4,5,6,7,8,9,11,12 Pine Court 14 Santos Street, Rugby, Milnerton

56 m²

AUCTION

Contact Broker

Sanjeev Boyjoonauth

Show Contact Number

Great Investment Opportunity - Tenanted 8 Out Of 10 Flats Of Pine Court - Block Of Flats

ONLINE AUCTION

Bidding Start Time: Wednesday 29 January 2025 @ 09:00

Bidding End Time: Thursday 30 January 2025 @ 14:30

Registration is essential by Monday 27 January 2025.

Pre-Auction Offers may be considered. Auction Finance Available.

For more information, please contact the listing agent.

DESCRIPTION:

Calling all investors - Buy this already sectionalised 8 X 2 beds flats - TLC Required.

No Transfer duty payable - If sections are bought individually.

• 1 X 2 Bedrooms

• 6 X 1 Beds plus

• 2 X Bachelors

• 2 Garages converted into studios.

• Sections (2-9) flats size from 43, 56 & 58m² plus sections 11 & 12 ARE 20m² each.

• Current rental income from 11 flats is R 46,650 per month or R 523,800 per/annum

• Expenses are R 7297 pm or R 87,564 P/Annum - Net income = R 436,235 p/a

Open for offers from R 3.750 mil Excl Claremart...

ONLINE AUCTION

Bidding Start Time: Wednesday 29 January 2025 @ 09:00

Bidding End Time: Thursday 30 January 2025 @ 14:30

Registration is essential by Monday 27 January 2025.

Pre-Auction Offers may be considered. Auction Finance Available.

For more information, please contact the listing agent.

DESCRIPTION:

Calling all investors - Buy this already sectionalised 8 X 2 beds flats - TLC Required.

No Transfer duty payable - If sections are bought individually.

• 1 X 2 Bedrooms

• 6 X 1 Beds plus

• 2 X Bachelors

• 2 Garages converted into studios.

• Sections (2-9) flats size from 43, 56 & 58m² plus sections 11 & 12 ARE 20m² each.

• Current rental income from 11 flats is R 46,650 per month or R 523,800 per/annum

• Expenses are R 7297 pm or R 87,564 P/Annum - Net income = R 436,235 p/a

Open for offers from R 3.750 mil Excl Claremart fee.

DETAILS:

• Sectional scheme name: SS Pine Court

• Sectional scheme no: 134/1992

• Unit no (Extent): 2 (56m²), 3 (43m²), 4 (56m²), 5 (58m²), 6 (58m²), 7 (56m²), 8 (43m²), 9 (56m²), 11 (20m²) & 12 (20m²)

PAYMENT TERMS:

2.5% Deposit & 10% Auctioneers fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer.

REGISTRATION REQUIREMENTS:

To bid at the auction you need to provide a copy of your identity document and current proof of residence (not older than 3 months) as well as a R20,000 refundable registration fee.

DISCLAIMER:

The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Auctioneers. Bidders must conduct their own investigations prior to bidding.

The Claremart Group is a leader in commercial and residential properties. We attract huge crowds to our auctions and consistently match and exceed the mandated price on properties sold under our hammer.