PROPERTY AUCTION

WH Auctioneers Properties (PTY) Ltd

578 16th Road, Randjespark, Midrand

Tel: 0115745700

www.whauctions.com

LIQUIDATION Rapiprop 149 (Pty) Ltd (In Liquidation) Master’s Ref. T357/18

5 X Modern Sectional Title Apartments

Sizes Ranging from 89m2 to 124m2

Mont Blanc Heights Building – Bedford Gardens

Sovereign Street l Bedford Gardens, Ekurhuleni

Units 12, 15, 56, 57, 58 of Sectional Title Scheme, SS Mont Blanc Heights Scheme Number, 277/2007, Erf 60 Bedford

Gardens

ONLINE BIDDING VIA WEBCAST Auction Date: Wednesday 9 September 2020 @ 12H00

Venue: online @ www.whauctions.com

Auctioneer: Daniel Pelkowitz

Due to COVID-19 only registered bidders will be allowed to bid online. No onlookers or walk-ins will be

granted access. Sanitizer and face masks available at the auction. Alternatively, WEBCAST bidding is

available. See below for details. Viewing by appointment ONLY

Contact for further info:

Daniel Pelkowitz Cell: 072 360 7510 Email: danielp@wh.co.za

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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LIQUIDATION

Index

1. Guideline for the Auction Page 3

2. General Page 6

3. Title Deed Information Page 6

4. Locality Page 6

5. Description of Improvements Page 8

6. Financial Information Page 10

7. Unit Layouts, Sizes and Parking Page 11

8. SG Diagrams Page 13

9. Site Photographs Page 18

10. Levy Statements Page 23

11. Liquidation Documents Page 26

12. Zoning Certificate Page 28

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 3

LIQUIDATION

1. GUIDELINE FOR THE AUCTION

Auction Date & Venue: Wednesday 9 September 2020 @ 12H00pm Online – www.whauctions.com

Registration: Bidders can register at any time prior to auction or from 11pm on auction day at the above-

mentioned venue. Identity and FICA documents are required in order to register for the auction.

All potential buyers are required to pay a registration fee of R25 000 in order to bid at the auction. This amount

can be paid either by bank guaranteed cheque or EFT into the Auctioneer’s trust account.

Cash will NOT be accepted at the venue.

Once registered each buyer will be issued with a buyer’s card reflecting a buyer’s number.

Upon signature of the registration documents, all buyers will have acknowledged and accept the Terms and

Conditions set out in the Rules of Auction.

Registration Fee: R25 000.00 (Refundable to unsuccessful bidders)

Deposit: 15.75% of hammer price

Confirmation period: 14 business days.

Balance of the purchase price payable within 21 business days after confirmation of sale.

The bid price excludes the buyer’s premium which is payable over and above the purchase price.

Example: Highest bid with buyer’s premium

Bid Price: R 1 000 000

Buyers comm. (5%) R 50 000

VAT on the Buyer’s Premium R 5 700

Total Purchase Price R 1 057 500

The auctioneers have the right to regulate the bidding at the auction and to bid on behalf of the seller up to (but

not exceeding) the reserve price as mandated by the seller. When the auctioneer knocks down the property to the

highest bidder the successful bidder will sign the Conditions of Sale on the day.

A deposit of 15.75% is payable on the fall of the hammer. This percentage is made up of the commission

payable by the successful bidder of 5% plus VAT (namely, 5.75%) plus a 10% deposit on the purchase price

of the Property.

The deposit is payable by way of a Bank Guaranteed cheque or electronic transfer. The deposit and buyer’s

premium are deposited into the WH Auctioneers Trust account.

For queries regarding the properties on auction contact:

Daniel Pelkowitz: 072 360 7510

WH Auctioneers offices: 011 574 5700

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 4

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 5

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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LIQUIDATION

2. GENERAL

Property Address: Sovereign Street, Bedford Gardens

Building Name: Mont Blanc Heights

3. TITLE DEED INFORMATION

Deeds Office: Johannesburg

Zoning: Residential 4

Building Age: ±40 years, fully refurbished in approximately 2007

4. LOCALITY

The subject properties are located in Bedford Gardens, Bedforview. Bedfordview is a wealthy town in western

Ekurhuleni, sharing an administrative boundary with the City of Johannesburg Metropolitan Municipality,

Gauteng, South Africa. Bedfordview has been part of the City of Ekurhuleni Metropolitan Municipality since 2000.

The Eastgate shopping centre is also located here. It is a central hub for upper end shopping centres, houses and

offices and is in close proximity to major arterial routes including the N3, N12, R21 and R24 highways.

The GPS co-ordinates for the property is as follows:

S - 26°19'29.80"

E - 28°11'91.36"

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 7

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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LIQUIDATION

5. DESCRIPTION OF IMPROVEMENTS

NOTE: Due to the nature of this sale and issues surrounding the matter, access could not be gained to the

actual units that are being sold. However, identical units in the building were visited and therefore a fair

idea of how the units are laid out and finished was gained from a site visit. Neither the Auctioneer nor the

Bank/Liquidators will accept any responsibility for any variations as to what is described herein and what

exists at the property.

The subject property consists of a 9 storey, residential building, comprising of 60 apartments of which 5 form

part of this sale. The façade of the building comprises plastered and painted brickwork as well as glazing. Access

to the floors throughout the building is gain via 2 modern lifts as well as internal staircases.

The building was built 40 years ago and then completely renovated and rejuvenated around 2007/2008.

Therefore, the apartments still comprise the “old school” large apartments but with modern finishes.

The units comprise various layouts and include:

1 X 2 Bedroom, 2 Bathroom Apartments

1 X 3 Bedroom, 2 Bathroom Apartment

3 X Penthouse Double Storey Apartments

A full layout and description of the units and sizes has been provided below. All units are finished in a similar

fashion with minor differences and are very nicely renovated with modern finishes.

The 2-bedroom 2-bathroom units consist of a large living area complete with open plan kitchen, dining room and

lounge bedroom area. The main bedroom is very large and complete with built in cupboards and a large en-suite

bathroom with a separate bath and shower as well as a double vanity. The second bedroom is also very well sized

and has built in cupboards, a separate bathroom which also acts as a guest toilet. The bathroom has a bath and

shower unit built into one. Kitchens are modern and well equipped with Cesar stone counter tops, built in

cupboards, stoves, microwaves, large fridges, and washing machines. Internal floors consist tiling and carpets

Walls are plastered and painted while ceilings are painted concrete. Most of the units also have covered/open

balconies.

The 3-bedroom 2-bathroom units consist of a large living area complete with open plan kitchen, dining room and

lounge bedroom area. The main bedroom is very large and complete with built in cupboards and a large en-suite

bathroom with a separate bath and shower as well as a double vanity. The second and third bedrooms are also

very well sized and have built in cupboards, a separate bathroom which also acts as a guest toilet. The bathroom

has a bath and shower unit built into one. Kitchens are modern and well equipped with Cesar stone counter tops,

built in cupboards, stoves, microwaves, large fridges, and washing machines. Internal floors consist tiling and

carpets Walls are plastered and painted while ceilings are painted concrete. Most of the units also have

covered/open balconies.

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 9

LIQUIDATION

There are 3 double storey Penthouse units located on the top floor of the building. One is a 1-bedroom 1-

bathroom unit, one is a 2-bedroom 2-bathroom unit and the last is a 2-bedroom 1-bathroom unit. The main

finishes and features are identical to those described above, however, these units are double storeys and have

spiral staircases in the living areas allowing access to exclusive rooftop gardens/patios. Each rooftop is complete

with a large entertainment are and patio as well as jacuzzies and gas braais. The kitchens in these units are also

larger than in other units.

There are minor variations between the units. Some bathrooms have a separate bath and shower whilst in some

the bath and shower are combined.

The units do not have geysers. The building has a large central boiler system with heat pumps which supplies hot

and cold water throughout the entire building.

The roof is a waterproofed concrete slab.

Parking

Every unit has at least 2 parking bays – 1 x basement and 1 x shade net parking. Some units do have lock up

garages as well. A detailed plan is included below.

Site Access and Security

Access to the property is gained through motorised security gates and booms which are manned by 24hr

security. Access to the basement parking is also gained via motorised gates. There are in fact two access points to

the parking lot. Access to each units is gained via electronic cards – similar to a hotel.

Services

Each unit has its own electricity metre which is read and billed on a monthly basis. The building has a bulk water

metre. Tenants are billed for water according to their participation quota (size of their flat). UMFA Meter Readers

are responsible for the readings.

Note: Pre-Paid Electricity meters are in the process of being installed in the individual units.

All fire equipment is in place and appears to be in working order and regularly serviced. The walls, stairwells, and

all common areas are cleaned and serviced 7 days a week. The lifts are managed and maintained by Otis Lifts. The

managing agents of the building are Trafalgar Property Management. There is a concierge service as well.

Every unit has access to DSTV and WIFI.

There is a large clubhouse which is at the disposal of all owners when required. The complex is complete with a

fully kitted modern gym with Technogym equipment. Every owner is entitled to use the gym. There is also a sauna

room and steam room.

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 10

LIQUIDATION

There are three large swimming pools located in the garden, one kiddies pool, one heated pool and one cold

pool.

The garden also comes complete with a putting green and volleyball court.

Summary

Roof: Waterproof concrete slab

External Walls: Plastered and Painted Brickwork

Internal Walls: Face brick, plastered and painted.

External Floors: Tiles/Tar/Concrete/Paved walkways

Internal floors: Tiles/Carpets

Condition: The building appears to be in a good condition however the building does require

maintenance is terms of paintwork to the façade and passageways. There is no evidence of roof

leaks or structural damage. The building is kept very clean and neat and is serviced. All

maintenance and upkeep is managed by the owners directly. A structural survey of the building

has not been undertaken and will not form part of this report. All structural and maintenance

information are as per information provided by the owners upon visiting the site.

6. FINANCIAL INFORMATION

As per information received, there is an apparent “Head Lease” in place for all 5 units in terms of a rental

pool/hotel type set up. The details of the income as per this Head Lease have not been provided to the WH or the

Liquidators.

NOTE: The units are to be offered for sale as follows:

1. Units to be sold as one parcel, subject to any head lease that may exist over the properties

2. Units to be sold as a package, without any lease in place

3. Units to be sold individually, without any leases in place

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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LIQUIDATION

7. UNIT LAYOUTS, SIZES & PARKING

UNITS ON FLOORS 1 AND 2

PENTHOUSE UNITS

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 12

LIQUIDATION

Exclusive Use Areas and Parking Bays

All of the below areas are shown and more fully described in SG Diagram. 473/2007

TOTAL NO. LOCK UP GARAGES: 8

NO. BASEMENT BAYS: 11

NO. SHADE NETTING BAYS: 17

Parking Bay Per Sectional Scheme

Applicable Unit Bay Label Type

P9 Section 12 12B1 Basement

P23 Section 56 56L1 Lock Up Garage

P24 Section 57 57L1 Lock Up Garage

P25 Section 57 57L2 Lock Up Garage

P31 Section 58 58L1 Lock Up Garage

P32 Section 58 58L2 Lock Up Garage

P40 Section 15 15L1 Lock Up Garage

P78 Section 12 12 Shade Netting

P81 Section 15 15 Shade Netting

P122 Section 56 56 Shade Netting

P123 Section 57 57 Shade Netting

P124 Section 58 58 Shade Netting

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 13

LIQUIDATION

8. SG DIAGRAMS

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 14

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 15

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 16

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 17

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 18

LIQUIDATION

9. SITE PICTURES

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 19

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 20

LIQUIDATION

10. UNIT BREAKDOWN

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 21

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 22

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 23

LIQUIDATION

10. LEVY STATEMENTS

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 24

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 25

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 26

LIQUIDATION

11. LIQUIDATION DOCUMENTS

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 27

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 28

LIQUIDATION

12. ZONING CERTIFICATE

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 29

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 30

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 31

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 32

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 33

LIQUIDATION

5 Apartments Bedford Gardens

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 34

LIQUIDATION