Vacant Land for auction in Pennington

Rezoned, serviced vacant land.

Going on Auction: Wednesday 28 August 2024
Reserve Price: R2 700 000.00 (All offers will be reviewed)
Expected Opening Bid: R2 650 000.00
Non-refundable 10% commission plus VAT over and above the purchase price to Rawson Auctions on fall of the hammer (Payable by the buyer)

Beautiful vacant land roughly three kilometres from the beach. This land offer loads of potential with 12126sqm building space. Water services is already in place. The property has been rezoned by the municipality as a resort level 1 with possibilities to build a bar, casino, caravan park etc.
The seller is registered for VAT.

Rawson Auctions (Southern Region) are obligated by law to market the property at the Reserve Price as listed herein. A “Reserve Price” is a minimum Rand amount the Seller will accept as the winning bid, and is not necessarily the property’s market value, nor the amount the property is likely to be sold for on the day of the auction. The Seller reserves the right to consider all offers.