Plot of land For Sale Eastern Cape Ad:787311

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South Africa

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R19,000,000

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Plot of land
For Sale
Eastern Cape
South Africa

PRICE: SEE OUTLAY BELOW +- R85 MILLION
PROJECT

LOOKING FOR CONTRACTORS

R8 MILL FOR CONTRACT OR R19 MILL FOR LAND

ASP identified a vacant piece of land in
Ngqeleni, Eastern Cape belonging to the
local community. After delicate discussions
with the community chief an agreement was
reached where ASP was granted the rights to
develop the land for commercial purposes.
After careful considerations ASP decided to
build a shopping mall as there is none in
the area. ASP embarked on a market research
exercise and found it to be favorable for a
shopping mall. After engaging the Nyandeni
Local Municipality and developing the
proposed building plans and supporting
documentation, meeting was held with the
banks. One of the major banks in South
Africa agreed to fund the project and
Shoprite Checkers confirmed interest to be
one of the anchor tenants in the shopping
complex. ASP is currently in the process of
engaging contractors to do the development.

The financial outlay of the project will be
as follows: (Rands)

Estimated Construction Costs

65,073,730.00

Professional fees, incl disb

8,625,523.00

Total Ex VAT

73,699,253.00

VAT

10,317,895.42

TOTAL (Incl. VAT)

84,017,148.42

The total costs of the shopping mall will be
funded through a loan agreement with one of
the major banks of South African who is also
interested in taking up space within the
mall. The costs estimates are based on the
South African buildings rates and standards.

ASP is currently looking at the prospect to
engage a reputable contractor to develop the
shopping mall and also be responsible for
all the professional work.

The contractor must be:

a. A reputable contractor /or consortium
with necessary CIDB rating to complete the
project

b. Experienced in this type of development

c. Be willing to employ local labour as part
of the project

d. Provide full turnkey solution

e. Adhere to due diligence by the financier
(bank)

f. Able to utilize own funds and equipment
(no advances)

g. Provide quotes upon request

6 ntractor purchase value

ASP is currently charging an amount of R 8
000 000.00 (Eight million rand) for a
prospective developer to be contracted to
complete the construction of the shopping
mall, after contractor conditions have been
met as per point 5 above. These funds will
be utiled by ASP for:

- the professional work already done on the
contract,

- deposit towards the community trust,

- leasing of the land,

- agents commission.

The contractor will sign all agreements with
ASP and be introduced to the financier
(bank). All payments will be made by the
financier directly to the contractor as per
prescribed stages of development.

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