Great Returns - Block Of Flats

OPENING BIDS TO BE ADJUSTED ONE DAY PRIOR TO AUCTION.

ONLINE AUCTION

Bidding Start Time: Tuesday 29 April 2025 @ 09:00

Bidding End Time: Wednesday 30 April 2025 @ 14:30

Registration is essential by Friday 25 April 2025.

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

For more information, please contact the listing agent.

DESCRIPTION:

Great Investment With 12.7% Gross Yield.

Entire block of flats on offer with 10 individual sectional titles:

• Positioned close to various modes of transport and easy access to the CBD, Century City, Milnerton and Maitland.
• Each unit has prepaid electricity and water meters.

The property offers:

• 4 x One and a quarter bedroom units (56m² each).
• 4 x One bedroom units (36m² each).
• 1 x Bachelor unit (25m²).
• Wendy house unit (21m²).
• All are sectional title therefore NO transfer duty applicable.
• Each unit consists of a bathroom, open plan living area with basic kitchen tops, stove and bedroom/s.
• The bathrooms have a toilet, basin, shower and is tiled.
• All units have burglar bars and steel gates.
• The property is surrounded by an electric fence.
• Current Gross Rental ±R53,387.00 per month or ±R640,644.00 per annum

DETAILS:

• Sectional Scheme Name:  SS Star Court
• Sectional Scheme No:  185/2022
• Unit No (Extent):  1 (36m²)
• Unit No (Extent):  2 (36m²)
• Unit No (Extent):  3 (56m²)
• Unit No (Extent):  4 (56m²)
• Unit No (Extent):  5 (36m²)
• Unit No (Extent):  6 (36m²)
• Unit No (Extent):  7 (53m²)
• Unit No (Extent):  8 (53m²)
• Unit No (Extent):  9 (21m²)
• Unit No (Extent):  10 (25m²)
• Rates:  TBC
• Levies:  TBC

Web Ref:  729483

Transfer Duty Applicable

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.

Sanjeev Boyjoonauth | 066 054 2211 | 021 425 8822 | sanjeev@claremart.com

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: info@claremart.co.za