Sold by Cyrus Brokers Auction

Sold by Cyrus Brokers – Auction

This property comprises of a white site and commercial retail center with various outlets, and an adjoining portion with a residence. KZN, Utrecht District.

The site, which spans over a road, has enormous potential to expand and re-develop into a dual entry Truck Stop with accommodation. The fuel station services a wide geographical area and can better utilize the high volumes of passing traffic from the major intersection.

Due to the geographical location of the site, a Fuel Depo (Gas and Oil) to service the Northern Kwa-Zulu Natal area is ideal.

The retail center is an area where expansion is feasible.

There are no servitudes notarized on either of the 2 portions.

The Fuel Station & Retail Centre – Portion 3

There is currently no existing supplier agreement in place, giving the purchaser the freedom to enter into an agreement with a supplier of choice. All the tanks are underground, of which there are 5 (4 on Portion 3, 1 on portion 17): 3 x 14 000ℓ 1 x 9 000ℓ 1 x 4 500ℓ LPG. The canopy belongs to the seller, but not the tank and pumps. The Fuel station pumps approximately 110 000ℓ per months of which: 30% Diesel (1.68) 70% Petrol (1.94) Average RAZ of 1.72.

Kiosk / Tuck Shop – Portion 3

The tuck shop stores general supplies, including Maize. The turnover is approximately R350 000.00pm with a profit margin of 10%.

Liquor Store – Portion 3

The turnover is approximately R500 000.00pm of which the profit margin is approximately 10% + an additional rebate from SAB of approximately R12 000.00pm.

Builders Supply Outlet – Portion 3

There is a 2.3 Kwa Generator on portion 3.

Residence – Portion 17

The residence on this property consists of a 4 Bedroom home with 3 Bathrooms (main-en-suite), Kitchen, 3 Living Rooms, Staff Quarters, Stoep and Braai Area.

In addition, there is a 2 Bedroom Flat, with Living Room, Bathroom and Kitchen.

There is a 1.5 Kwa Generator on portion 17 and 1 underground tank is on this site.

The site has water residential use water rights from the Blood River.

This property consists of 2 portions which will be offered collectively and / or individually.

Terms & Conditions

Bidders need to FICA when registering to bid with Copy of ID and Proof of Residence.

5% Deposit payable on the fall of the hammer.

10% Commission, + VAT on Commission, payable on the fall of the hammer.

45 Days for Guarantees.

Due to the popularity of this listing, the overwhelming responses and daily avalanche of emails and voice messages thereto, you will be required to complete our Non-Disclosure Agreement for you to be privy to any information.

Interested in this Business

NO information financial or otherwise on any of our listings will be made available to prospective buyers unless they fully comply with the following;

1. Cyrus Business & Property Brokers mandated with the sale of this opportunity was specifically requested by the Seller not to divulge any information pertaining to what is being sold under this listing prior to obtaining proof of funds from your financial institution (bank), auditor or lawyer;
2. Due to the popularity of this listing, the overwhelming responses and daily avalanche of emails and voice messages thereto, you will be required to register as a buyer, complete our Non-Disclosure Agreement and provide us with “proof of funds” from your bank or financial institution for you to be privy to any information financial or otherwise;
3. Upon receipt of your Non-Disclosure Agreement and proof of funds, you must be prepared to visit us, we want to meet you in person, where after all information will be conveyed without delay.

Commission

A property practitioner is not entitled to a commission unless he/she is registered and possesses a valid FFC

The following juristic and natural persons are defined by section 1 of the Act as property practitioners, Agents, Business Brokers, Consultants, Advisers, Agency, Accountants, Attorneys, Auctioneers, Bridging Financer, Bond Brokers, Developers, Homeowners Associations, Managing Agents, and Time Shares, (note, without limiting to same).

The Property Practitioners Act came into effect on the 1st of February 2022. Sections 47 and 48 of the Act compel property practitioners including its Directors, Members or Trustees, and all employees who act as property practitioners to obtain and hold a valid Fidelity Fund Certificate (FFC) which must be applied for from the PPRA.

Section 48 of the Act effectively bars a property practitioner from rendering services as a property practitioner if he/she does not possess a valid FFC and Section 56 dictates that a property practitioner is not entitled to commission unless he/she is registered and possesses a valid FFC.

Furthermore, Section 48(4) stipulates that a property practitioner who receives a commission in the absence of the certificate as mentioned above will be required to pay back the commission immediately upon receipt of a written request. Conveyancers are prohibited from paying commissions or monies unless a property practitioner produces a certified copy of their FFC.

The consequence of operating without a fidelity fund certificate is that a property practitioner can be found guilty of an offense in terms of section 48(5) of the Act.

If there is any doubt as to whether or not juristic and natural persons are defined by section 1 of the Act as property practitioners have a valid fidelity fund certificate, do not hesitate to contact the Property Practitioners Regulatory Authority (https://theppra.org.za/) or your Attorney to confirm and verify the registration status.