PTN 1 OF ERF 2204 & PTN 1 OF ERF 2230 317 CURRIE ......Floors G – 6: A constructed shell with division wall separating the two apartments per floors; services to floors 1 to 5 exist;

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Terms & Conditions

Please note that in order to be approved for bidding, you are required to send us: Proof of Payment & Original Proof of FICA Documents). R 50 000 refundable deposit (strictly cash transfer only). All bids are exclusive of commission + VAT.

Ian Wyles Auctioneers may bid up to reserve on behalf of the sellers. The above is subject to change without notification.

Auctioneer: Ian Wyles

DEVELOPMENT PROPERTY

ONLINE “ZOOM” AUCTION

PTN 1 OF ERF 2204 & PTN 1 OF ERF 2230 317 CURRIE ROAD, MUSGRAVE, DURBAN

WEDNESDAY, 26 AUGUST 2020 @ 11:00 AM IAN WYLES: 082 490 3517 | ANDREW GIDDY: 082 601 9278

031 579 4403 | WWW.IANWYLES.CO.ZA

VIEWING BY APPOINTMENT ONLY

http://www.ianwyles.co.za/

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Disclaimer Whilst all reasonable care has been taken to provide accurate information, neither IAN WYLES AUCTIONEERS Ltd nor the Seller/s guarantee the correctness of the information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a result of errors or omissions in the information provided, whether due to negligence or other wise of IAN WYLES AUCTIONEERS or the Sellers or any other person

Property Summary

Locality Maps

Pictures

Additional Information

Auction Information

Deposit 5% of bid price payable by The Purchaser on the fall of the hammer

Commission 5% plus VAT thereon of the bid price payable by the Purchaser on

the fall of the hammer

Terms and Conditions

If you are the successful bidder, the following is applicable:

• 30 Day Guarantee Period from confirmation of sale by the Seller

• Possession & occupation of property on registration

• Electrical (including electric fencing), woodborer and gas compliance for the

Purchaser’s account, if applicable

Banking Details Ian Wyles Auctioneers and Appraisers (PTY) LTD - (EAAB Approved Trust Account)

Account Number – 40-9642-2381

Branch Name – Absa Bank Durban North

Swift Code – ABSA ZA JJ

Branch Code – 632005

Reference: Use Name and Property Address

CONTENTS 317 CURRIE ROAD, MUSGRAVE

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General

Property Address 317 Currie Road, Musgrave, Durban, Kwazulu Natal

Title Deed Information

Title Deed Number T34345/2009

Title Deed Description Ptn 1 of Erf 2230 & Ptn 1 of Erf 2204, Durban, KZN

Extent:

Erf 2230 Portion 1 620 m² (Cadastral)

Erf 2204 Portion 1 1226 m² (Cadastral)

Municipal Information

Zoning General Residential 5

FAR (Bulk) 5.3

Coverage N/A

Minimum Side & Rear Spaces N/A

Municipal Value R2 475 000.00

INFORMATION 317 CURRIE ROAD, MUSGRAVE

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Locality

The subject property is centrally located within the residential area of Musgrave, enjoying

unsurpassed views of the Central Bowl. Musgrave is a mixed-use suburb of high and medium

residential density with Botanic Gardens, Musgrave Shopping Centre, quality schools,

professional and social amenities located therein.

Ideally located with ready access to the N3 and N2, bordered by Berea, Overport and

Greyville suburbs.

Properties range from grand old houses, to smaller apartments and flats. The suburb is

extremely popular with the Indian Community.

Condition

The property is incomplete. Please note that we have not undertaken a structural survey,

nor have we arranged for tests of inspections of the service installations.


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Description of Improvements

Existing development presently comprises an incomplete proposed residential up-market

block of apartments, being constructed in compliance with a re-zoning application an FAR

of 5.3. According to the relevant information provided, development is 75% complete.

A Sectional Title Plan SG No. D61/2019 – Serengeti Rise has been approved but unregistered

at Deeds Office.

The development is being built in accordance to the FAR of 5.3 which permitted a nine (9)

storey residential block of upmarket apartments, viz. Basement, Floors “G – 6” and

penthouses on the remaining floors.

The Property enjoys unsurpassed views of the City “Bowl” and Coastlines.

Typical Layout of the floors comprise:

Two (2) residential apartments with double parking garage, staff quarters and terrace per

apartment per floor. (4 Bedroom Apartment with staff accommodation averaging 430

m²/unit).

The Basement Floor will comprise:

Access to the development will be by pedestrian lift and a motor vehicle lift (Shafts have

already been constructed); Undercover Parking, Entrance Foyer, Gym Area, Board Room,

Prayer Room.

The intention of the developers was to sell the units individually as a shell, with electricity and

water services, the onus of the internal finishes, flooring, etc being left to the owner to

complete.

At present the building is incomplete and the following description of the existing state of

development is as follows:

Basement: 2 x Swimming Pools (Shells), Security, Boardroom, Prayer Room, Gymnasium

and entrance to lifts

Floors G – 6: A constructed shell with division wall separating the two apartments per

floors; services to floors 1 to 5 exist; separate Staff Accommodation

Penthouse (x 2 Floors): No evidence of construction – access blocked

Lifts: Shafts Partially Constructed

Note: Auction Excludes Scaffolding/ Decking & Hoist


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Expenses

Monthly Rates : ± R 2 805.00 (Estimated)

Value Added TAX

The Seller is a VAT vendor. VAT applies over and above the Purchase Price.

Lease/ Occupancy

The Property is vacant. No lease.


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ZONING 317 CURRIE ROAD, MUSGRAVE

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PLANS 317 CURRIE ROAD, MUSGRAVE

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BASEMENT

PROPOSED BASEMENT GYMNASIUM

PROPOSED BASEMENT ENTERTAINMENT AREA & POOL

BASEMENT – LIFT ACCESSES

IMAGES 317 CURRIE ROAD, MUSGRAVE

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TYPICAL OPEN AREA


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APARTMENT SHELLS

TYPICAL APARTMENT VERANDAH

LIFT ACCESSES


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AERIAL 317 CURRIE ROAD, MUSGRAVE