E3.6m property to be auctioned
MBABANE – A huge property in Mbabane Township, Extension No. 19 is set to go under the hummer at a reserve price of E3.634 million.
The auction, according to Deputy Sheriff David Magagula, is set to take place outside the High Court of Eswatini, on Hospital Hill, Mbabane starting at 11:30am, on December 10, 2022. The structure was described as about 100 per cent complete construction works and detached.
It is constructed of concrete block walls, plastered, and rendered.
Improvements in the property include a fully constructed mechanical workshop and semi-double storey building.
Comprises
The accommodation comprises of 2 offices, reception area, sanitary rooms and kitchenette in the upper floor.
Also inclusive to the development is a lockup garage, storeroom, ablution facility and workshop to the ground floor.
The property is suitable for commercial purposes. The workshop was still under construction, currently, a steel framework structure with columns and trusses. The winning bidder is expected to pay 10 per cent deposit at the end of the auction. The mode of payment will be agreed between seller and the buyer,” said Magagula. The base price, referred to as a ‘reserve price’ in auctions, has been fixed at E3 634 000. However, as auctioneers often say, the starting price is not important; what is important is the end price.
Depending on bids, this property could sell for E5 million on a good day, perhaps even more.
Magagula urged potential buyers to keep time so the event goes smoothly.
He assured that the highest bidder will be awarded victory. He said on the day of sale, 10 per cent deposit, plus five per cent auctioneer’s charges would be required.
For viewing the property and addressing any enquiries relating to the auction, the sheriff can be contacted on 76629514 /79629514.