Eastern Cape to sell property worth millions

Posted On Monday, 20 June 2005 02:00 Published by
Rate this item
(0 votes)
The Eastern Cape government is to sell off 150 properties
The Eastern Cape government is to sell off 150 properties, worth millions of rands, in Hamburg, in the Peddie district, to recover outstanding rent payments.

This follows the precautionary suspension with full pay of four officials pending investigations into allegations of misconduct, corruption and fraud.

Announcing the decision to dispose of the properties, Public Works MEC Christian Martin said the properties included 89 vacant erven and 61 buildings or houses.

He said the disposal plan would follow disciplinary action against affected officials, recovery of outstanding rental payments, and setting new market-related, short-term leases for tenants.

The four officials suspended are senior manager (property development) Fezile Dunywa, senior manager (Amathole region) Vusumzi Rozani, senior manager (property management) Mmantsipo Nombungu, and the manager, corporate services, for the Amathole region, Mzibanzi Dukisa.

Martin said all current lease agreements would be terminated and replaced by six-month leases, based on market-related rates. The tenants would enter into contracts based on the standard leases for tenants.

"We have decided to dispose of these properties, in accordance with a planned process, along specified disposal principles. Consultants will also be appointed to determine the value of all properties.

"The valuating of the properties will be done according to market related trends without losing sight of black economic empowerment and local community development initiatives, as set out in the integrated development plan process of the relevant municipality," he said.

After valuation, the properties would be sold. It had not yet been decided whether they would be sold at public auction or through a tender process.

Martin said legal processes to recover outstanding rental payments were postponed to allow for communicating with the tenants first.

A meeting for the purpose would be held on June 21, and the recovery process would start on June 24.

Eastern Province Herald

Publisher: Eastern Province Herald
Source: Inet Bridge

Most Popular

Tshwane Regional Mall Grand Opening date set

Aug 31, 2019
24th October 2019, the long-awaited day earmarked for the grand opening of Tshwane…

Attacq Ltd and Tricolt break ground on Ellipse Waterfall

Aug 30, 2019
 13 2
Today Attacq Ltd the JSE listed REIT developing Waterfall City, and Waterfall Logistics…

Redefine Properties appoints Daisy Naidoo as independent non-executive director

Aug 30, 2019
Redefine Properties appoints Daisy Naidoo as independent non-executive director.

Founder Marc Wainer retires from Redefine Properties

Aug 31, 2019
JSE listed diversified real estate investment trust Redefine Properties today announced…

Eris Property Group appoints successive CEO Barend de Loor

Aug 30, 2019
Eris Property Group has appointed a new Chief Executive Officer (CEO). Barend de Loor…

Please publish modules in offcanvas position.