Apartment in prime position on Strand beachfront on offer in insolvency auction

As instructed by the trustees in the matter of Insolvent Estate AB Smit, Masters Reference: C173/2014, the Michael James Organisation will soon auction a studio apartment in Hibernian Towers, which occupies a prime position on Strand beachfront.
The distinctive 22-storey apartment block, which was completed in 2009, features a four-storey glass atrium that rises up from the foyer, and includes retail outlets, offices and smaller apartments, says the auction house’s CJ du Toit.
The sectional title building also has an indoor pool, a sauna, a sun terrace and a gym on the fourth floor. “In addition, it offers high-speed lifts, secure multi-storey parking and 24-hour monitored security.”
Du Toit says the apartment on offer - Unit 403 – has a floor area of 59m². “The open-plan studio unit, which is situated on the fourth level, has a fitted kitchen and offers spectacular ocean views from its balcony,” he adds. “Like all the other apartments in the block, it has under-floor heating and cable TV.”
The auction will take place at 11.15am on Wednesday, 11 June, and will be held on site at Unit 403, Hibernian Towers, Beach Road, Strand. Viewing of the property will take place between 2pm and 4pm on Sunday, 8 June.
More details and photographs are available on www.michaeljames.co.za, reference 330.
The terms and conditions of the auction include a 10 percent deposit plus auctioneer’s commission on the fall of the hammer, with the balance payable on transfer. A copy of each bidder’s identity document and proof of residence will be required for auction registration.
For more information, call CJ du Toit on 021 851 7007 or e-mail cj@michaeljames.co.za.