SOLD Cyrus Business Brokers

Sold by Cyrus Business Brokers. Petrol Station for Sale Free State – Welkom. NO BEE REQUIREMENTS, open to all races. Re-brand TOTAL Petrol Station completely revamp, includes new tanks, new canopy and new pumps, New OK Foods fully fitted, Turnkey, Excluding property. Opening end July 2020. The oil company projected fuel sales for this site is +/- 250,000 liters per month with a projected +/- R 1,500,000 per month in the OK Foods. This station is in a great residential area with high traffic flow and have a loyal customer base. Great opportunity to own your petrol station on busy road. The oil company is looking for an operator. Lease 5 years with option for 5 years. Price is as follows, right to trade, R 6,6 mil plus stock R 1,5 mil. The TOTAL Funding Requirement needed to acquire this Business is R 8,1 million CASH. A suitable candidate will show and provide proof of the necessary cash funds associated with this transaction. Such proof shall be given in writing by your financial institution, lawyer and or auditor for the attention of the broker and oil company to this transaction. These requirements will form the basis of moving any agreement that may be forthcoming forward and may there be further requirements laid down prior to an interview being granted. There is no BEE requirement, however the person has to be approved by the oil company. The oil company has insisted that only CASH BUYERS will be considered. PLEASE NOTE: – NO INQUIRY will be entertained UNLESS you MEET the above Criteria. Due to the popularity of this Petrol Station for Sale Free State, the overwhelming responses and daily avalanche of emails and voice messages thereto, you will be required to complete our Non-Disclosure Agreement and to provide us with “proof of cash” from your bank or financial institution for you to be privy to any information financial or otherwise.

Commission

A property practitioner is not entitled to a commission unless he/she is registered and possesses a valid FFC

The following juristic and natural persons are defined by section 1 of the Act as property practitioners, Agents, Business Brokers, Consultants, Advisers, Agency, Accountants, Attorneys, Auctioneers, Bridging Financer, Bond Brokers, Developers, Homeowners Associations, Managing Agents, and Time Shares, (note, without limiting to same).

The Property Practitioners Act came into effect on the 1st of February 2022. Sections 47 and 48 of the Act compel property practitioners including its Directors, Members or Trustees, and all employees who act as property practitioners to obtain and hold a valid Fidelity Fund Certificate (FFC) which must be applied for from the PPRA.

Section 48 of the Act effectively bars a property practitioner from rendering services as a property practitioner if he/she does not possess a valid FFC and Section 56 dictates that a property practitioner is not entitled to commission unless he/she is registered and possesses a valid FFC.

Furthermore, Section 48(4) stipulates that a property practitioner who receives a commission in the absence of the certificate as mentioned above will be required to pay back the commission immediately upon receipt of a written request. Conveyancers are prohibited from paying commissions or monies unless a property practitioner produces a certified copy of their FFC.

The consequence of operating without a fidelity fund certificate is that a property practitioner can be found guilty of an offense in terms of section 48(5) of the Act. If there is any doubt as to whether or not juristic and natural persons are defined by section 1 of the Act as property practitioners have a valid fidelity fund certificate, do not hesitate to contact the Property Practitioners Regulatory Authority (https://theppra.org.za/) or your Attorney to confirm and verify the registration status.