Mixed Use for auction in Westenburg, Polokwane
Web Ref: 1095610
Going on Auction: Wednesday 12 May 2021
Reserve Price: R4 800 000 (All offers will be reviewed)
Expected opening bid: R4 300 000.00
Non-refundable 10% commission plus VAT over and above purchase price to Rawson Auctions on fall of the hammer (Payable by the buyer)
Commercial opportunity in Westburg, Polokwane. The property consists of Licensed liquor store. Bar & lounge. Post office. Two ATM’s. Three separate units with one bedroom & en-suite. Two apartments with two bedrooms each. Proposed development for four – one-bedroom units & twelve – two bedroom units. Current estimated rental income R37 500.00 per month. This property is sold voetstoots. Subject To further disclosure. The onus is on the new owner to re-negotiate leases or evict current tenants who are not paying rental.
Rawson Auctions (Southern Region) are obligated by law to market the property at the Reserve Price as listed herein. A "Reserve Price" is a minimum Rand amount the Seller will accept as the winning bid, and is not necessarily the property's market value, nor the amount the property is likely to be sold for on the day of the auction
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*based on purchase price at Prime over 20 years
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