LIQUIDATION – 2 X VACANT FARMS IN WILGESPRUIT

LIQUIDATION

DEVELOPMENT OPPORTUNITY! 

The two farms are situated in the Wilgeheuwel area, which forms part of the Roodepoort region in Gauteng.

The property comprises two portions, namely a larger northern portion and a smaller southern portion. The northern portion is affected by existing roads (refer to paragraph 3) and falls within a designated wetland area.

Subclause (n)(i)1 of the 2018/19 Rates Policy refers to land without zoning, land with unresolved zoning, deproclaimed mining land, and any undeveloped land or erf within a proclaimed township or land development area. In light of the above, the appropriate category cannot be classified as Vacant Land, as the subject property falls outside the definition and clarification applicable to Vacant Land.

Accordingly, the property should be categorised as Farming or, alternatively, Agricultural Other.

• Please refer to the below diagrams, extracts, and photographs for further information.

➢ Extent – Ptn 271: 3.9878 ha

➢ Rates: ± R 3 690.73 (Estimated)

➢ Extent – Ptn 667: 0.2973 ha

➢ Rates: ± R 2 737.09 (Estimated)

• 5% Deposit and 10% Auctioneers Commission plus VAT on Commission is payable upon signing of the agreement

• VAT – We are awaiting confirmation as to whether the Seller/Entity is VAT registered. Should the Seller be VAT registered, VAT will be applicable over and above the purchase price.