A SEMI COMPLETE DOUBLE STOREY HOSPITALITY PROPERTY WITH 24 ENSUITE ROOMS: UNIQUE INVESTMENT OPPORTUNITY IN SIGNAL HILL, NEWCASTLE COMMERCIAL PROPERTY AUCTION IN NEWCASTLE, KWAZULU-NATAL AUCTIONED BY PETER MASKELL AUCTIONS CC

Duly instructed by the Receiver in the Liquidation of the Joint Estate of M.L. and A. Mchunu.

Timed Online Auction through our App starting on 27th February 2024 at 10h00.

Erf 9300 Newcastle (Extension 37), Registration Division HS, Province of Kwazulu-Natal in the extent of 2130sqm and known as 49 Libra Avenue, Signal Hill, Newcastle, Kwazulu-Natal.

The property comprises 2 double-storey buildings designed as an upmarket guest house. Guard house at the entrance gate. Swimming pool at the rear of the property.

Rear building - Ground floor and first floor: Each floor has 6 rooms, all with ensuites.

Front building - Ground floor and first floor: Each floor has 6 rooms, all with ensuites. The front building also accommodates a kitchen and scullery, laundry rooms, guest toilets, an office area, a reception area, and an entertainment lounge. Ample parking is available.

Terms: Buyer's card deposit: - R50,000.00, VAT or TRANSFER DUTY shall be applicable; 10% deposit on the purchase price payable on fall of hammer by successful bidder; The PURCHASER shall at his own cost obtain all compliance certificates to effect transfer. The above is subject to change. E&OE. *Online Auction Notes: • If a lot receives a bid within the last 10 min. it will remain open for an additional 10 min • If any further bidding occurs, the extension timer will reset to 10 min. • If no further bidding activity occurs, the lot closes when the timer runs out.