Swindon Property: Business Rescue Sale by Silent Tender Process (Moffett on Main Lifestyle Centre, PE)

Date/Time
Date(s) - 07 Dec '21
12:00 pm

Categories


Swindon Property is proud to announce their selection by Mazars, as the duly appointed Business Rescue Practitioner to conduct a Silent Tender Sale on Moffett on Main Lifestyle Centre, corner Main and 17th Avenue, Walmer, Port Elizabeth. 

Moffett on Main Lifestyle Centre is a double-storey development of shops and offices nestled on a sloping site at the busy intersection of Main Road and William Moffett Expressway in the suburb of Walmer, Port Elizabeth.

The lineal development has been designed along the north/south axis, giving maximum exposure of its west elevation to the William Moffett Expressway with the main access road linking the N2 motorway with the Port Elizabeth Airport to ensure high visibility from passing traffic with direct parking access.

With an open landscaped parking area between the Expressway and the main pedestrian mall, service deliveries occur along a secure service road running the full length of the eastern (rear) edge of the building.

The tenant mix includes décor stores, clothing stores, indoor entertainment and distinctive restaurants catering for the family shopper.

This 42 000m² establishment includes 28 500m² of retail and office space with 793 basement parking bays and 301 open bays. Anchor tenants include Checkers, Baby City, 4×4 Megaworld, The General store, The Golfers Club, Santam (offices).

A full Due Diligence pack is available for download subject to a Non-Disclosure Agreement signature. 

Bidding process:

  • Bidders are hereby invited to submit offers to Swindon Property by 12 noon on Tuesday, 7th December 2021.
  • Offers should be forwarded electronically or presented in writing (in a sealed envelope), the contents of which will remain confidential.
  • All offers will be opened and assessed by the Business Rescue Practitioner (BRP) in the presence of the broker to ensure transparency of process.
  • Bidders who are represented by external property brokers will be liable for any commissions payable or alternatively will have to disclose the commission amount and deduct it from the purchase price, so that all offers received are net of any commission.
  • The Seller has provided a detailed package of information relating to the building. This information has been supplied for the prospective Buyer to execute their Due Diligence and finance approvals prior to submission. The prospective Bidder shall be required to complete an NDA before being given access to the Dropbox folder.
  • In making a formal offer to the Seller, prospective Purchasers will be requested to provide proof of funds / financial assurances to the Seller.
  • The subject premises will be sold ‘Voetstoots’ and VAT will be attributable to the transaction at zero percent.
  • All Bidders will be required to sign the Sale Agreement provided which has been pre-approved by the Creditor.
  • The Seller reserves the right to unconditionally accept or decline any offer received.
  • All viewings to be arranged with the broker with a minimum 24-hour notice period.

For more information please contact Annuske@swindon.co.za