Last chance to offer on R800m worth of shares and assets from national furniture manufacturing and retail concern

Written on 08/21/2020
Editor

*This content is brought to you by Manci Knoop Financial Services and Coronado Consulting

There is still time to submit offers on shares, commercial and residential properties across Pietermaritzburg, Durban, Johannesburg and Cape Town, as well as furniture manufacturing assets collectively valued at R800m.

That’s the word from the joint business rescue practitioners, Manci Knoop Financial Services and Coronado Consulting, who have extended an invitation to bid for investment and residential property and a furniture manufacturing and retail business, namely: Investments (Pty) Ltd, Nungu Trading 478 (Pty) Ltd, Azure Blue Investments 31 CC, Silver Shadow Trading 508 CC, Robfair Investments 229 CC, Collateral Trading 224 CC, all in business rescue.

Offers on shares (to be sold as a going concern) immovable and movable assets belonging to the concerns mentioned above will be accepted individually or collectively in defined lots.

Fifteen properties, comprising retail parks, offices and showrooms; mixed-use commercial premises; vacant land; residential dwellings and a corporate guest-house are available.

Sutherland Home Furnishings (SHF) Athlone Square, Pietermaritzburg. Massive mixed use commercial property, with GLA of 13 671m2
SHF Head Office, Howick, KZN. Office and Retail, 2 x Factories, Distribution Centre and Design Centre, with GLA of 22 837m2

One of the properties in question includes the Howick-based SHF Head Office comprising a retail office, two factories, a design centre and a distribution centre measuring 22 837sqm’s in total. Tenants include SHF, Dot Com, Romesco Olives, Natfurn, Howick Showroom, Comfy Lounge, and DC Warehouse.

After shares and property, there remains home furniture stock, high-end machinery and equipment, office furniture, point-of-sale systems, light to heavy commercial vehicles to be sold.

Woodworking machinery (Howick, KZN) including 3x Biesse CNC routers, panel saws and planers.
Trucks, trailers, bakkies and vehicles (Howick, KZN)

Interested parties have until 5:00 pm on Monday the 24th of August to submit their offers electronically to property@parkvillage.co.za.

For detailed information, visit https://www.parkvillageauctions.co.za web reference 551 or www.go-dove.com web reference 900211.