Thursday, 29 June 2017 12:55

Dairybelle properties sold to Giant Sweets for R66 million

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Following the liquidation order of Dairybelle, two Epping properties belonging to the company went under the hammer recently for R66 million. Giant Sweets was the successful bidder.

Instructed by HCRS and several joint liquidators, the auction was hosted at ENSafrica and conducted by auction house Clear Asset as part of the liquidation sale of Dairybelle Pty Ltd. Comments Clear Asset MD and auctioneer Ariella Kuper, ‘’Signs of a buoyant market for industrial land in the Western Cape are certainly evident after there was much demand for these properties. The doors of the Dairybelle plant were closed under the final liquidation order, and since then the property attracted much interest from buyers and developers.’’

With each erf sold individually (provisionally) and then combined into one collective lot, the bids commenced at R10 million moving rapidly to R17.5 million (ex VAT) for the smaller property previously rented by Clover for their UHT milk production. The larger erf, used for dairy production (milk, yoghurt, butter) and fruit juice with a registered servitude road in between, secured a solid R42 million. The auctioneer Ariella Kuper then commenced with a combined bid at R61 million which progressed quickly to reach a final bid price of R66 million (ex VAT).

‘’With reserve having been met and announced to the bidding audience, the joint liquidators confirmed the sale on Friday 23 June, ensuring that Mr. Karriem Noor of Giant Sweets is the new proud owner of both erven and a new chapter will commence on the ex-Dairybelle legacy.’’

Clear Asset, well-known for its online proprietary software and specialist player in commercial maritime and mining auctions, has now branched into the property sector with a strong start, evident by this recent sale. 

Last modified on Wednesday, 20 September 2017 14:19

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