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Professionals Lae Real Estate

E: sales@theprofessionals.com.pg W: www.theprofessionals.com.pg P: 4725144 F: 4725141

Auction on Site

Friday 16th October 10.00am

Information, Registration and Property Pack

Kagamuga Airport

Sect 4 Lot 2

Mt Hagen

F

Auction

Introduction

We are pleased to offer this fine property for sale by Auction. We invite you to Register and Attend the Auction and bid to purchase the property. The Property is being offered with Vacant Possession. A deposit will be required to be lodged by the successful Purchaser of 10% of the sale price of the Property on the fall of the hammer. A Contract for Sale will be required to be entered into within seven (7) days of the lodging of the deposit and notification of acceptance of the offer failing which the Sale will be declared void and the deposit refunded. The value of the improvements will be subject to GST. Inspections can be arranged by appointment only. Further information can be obtained by contacting: Jenny Ipata Email professionalswh@datec.net.pg Michelle Asunu Email sales@theprofessionals.com.pg Mike Quinn Email admin@theprofessionals.com.pg Phone Lae 4725144 * Mt Hagen 5420017

PROFESSIONALS LAE LTD * REAL PROPERTY AUCTION * TERMS AND CONDITIONS OF SALE

1. The highest bidder above the reserve price shall be the Purchaser and if any dispute should arise as to any bid it shall be decided by the Auctioneer whose decision shall be final unless one of the claimants will advance in which case the property will be put up again and resold.

2. The bidding from time to time shall be regulated by the Auctioneer and no bid shall be retracted.

The Auctioneer reserves the right to bid on behalf of the Vendor and/or bidders unable to attend the auction personally.

3. The property information provided at the auction in respect of the property and used in the

Auctioneer’s preamble is believed by the Auctioneer to be accurate however no warranty is offered by the Auctioneer on the accuracy of the information provided.

4. The Auctioneer may without giving any reason therefore refuse to accept the bid of any bidder and

decline the offer on any lot or withdraw any lot or lots for sale. 5. If bidders are required to have registered in advance of the auction then any bidder who has not

satisfied this requirement and supplied all the information required by the Auctioneer will not be eligible to bid at the auction.

6. At the discretion of the Auctioneer every bid shall be at least 5% in advance of the previous one

and no person may retract his or her bid once made. 7. The Purchaser will be required to deposit by way of cash or bank cheque a non-refundable deposit

in an amount equal to 10% of the purchase price, on the fall of the hammer, except where terms are given by and at the discretion of the Auctioneer.

8. The Purchaser will be required to execute a standard contract for sale in respect of the property

and lodge the required stamp duty applicable on the purchase within seven (7) days of the date of the conducting of the auction, failing which, the Purchaser will be deemed to have defaulted on the purchase of the property and the deposit will be forfeited in full.

9. No property or right in the said property shall pass to the Purchaser or to any other person, firm or

Corporation until settlement in full of the purchase of the property. 10. The whole of the property having been on view for inspection, no allowance or refunds will be

made, nor will any buyer be committed to reject any lot on the grounds that it is not correctly described. The said property is to be taken as is where is, all faults if any.

11. If the Purchaser shall neglect or fail to comply with any of the above conditions, the property may

be immediately resold by public auction or private contract with or without notice, at the risk of the Purchaser, who will be held responsible for all loss and expenses arising out of such resale and shall not participate in any profit occurring therefore and any moneys paid by the Purchaser by way of deposit or otherwise shall without prejudice to any other rights of the Vendor or the Auctioneer, be absolutely forfeited.

12. No liability will be accepted by the Vendor or the Agent for any injury or damage to the Public or

their Property during the course of the Auction or at the Auction venue. 13. All other terms and conditions will be as described in the standard Contract for Sale.

Property Details

Kagamuga Airport Sect 4 Lot 2

Title

Volume 31 Folio 167 State Lease Expiry

10/12/2055

Lease Type Business Lease

Zoning

Commercial

Annual Land Rent K

Annual Land Tax

K

Area 0.2762 hectare

This 2,762 sq.m. allotment is strategically located on the apron of the Kagamuga / Mt Hagen airport. Improvements include a ground level office complex and passenger / cargo terminal. The allotment has an extensive undeveloped area is suitable for further development of the site.

Photos

Photos

Location

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65/264

TERRITORY OF. PAPUA AND NEW GUINEA

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Land Ordinance 1962 (as amended)

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Lease Form 3.

Registered in the Register of <Aewtt/ Administration Leases

BUSINESS LEASE UNDER SECTION 61

THE ADMINISTRATOR of the Territory of Papua and New Guinea hereby grants to MANDATED

AIRLINES !DIITED, a Company incorporated in "

the Territory of Papua and New Guinea (hereinafter called" the Lessee") a lease under Section 61 of

the Land Ordinance 1962 .. of the Territory of Papua and New Guinea (hereinafter called" the

Ordinance") for a period of ninety nine' (99) years

from the

and

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twenty nin'(jh

six'GY rive

day of April One thousand nine hundred

for BUSINESS purposes, of all that piece or parcel of land

to which the following description applies:-

-reR'I'feN ~~ ALLQn,1ENT

2 I 4

.

as shown coloured yellow ..... - if;

(hereinafter called "the Land..").

PSt:Jft'tvUtj I TOWN AREA DISTRIcr

Kagamuga 2 roods 29.2 perches Western \ HighJs.nds

"-, .. Be the same a little more or less

in the plan annexed hereto I with all appurtenances thereto . )

, . - . EXCEPTING AND RESERVING therefrom the reservations implied in every Administration lease _ 0

by the Ordinance TO HOLD unto the Lessee for the said term su~ect to the terms provisions restric .. tions and conditions con,\ained in the Ordinance and ~ Regulations thereunder and to the reservations covenants terms and com#tions hereinafter set forth.

YIELDING AND PAYING therefor during the first, ten (10) years of the said term annually in advance on the first day of January in each and every year ~- annual rent of T,,,enty pounds (£20)

- (forty dollars - $40.00) _ L.--

and thereafter such annual rent as shall be or become payable by reason of the annual rent having been redetermined in due course of law.

-- . ..

(a)

, ' . ,

THE LESSEE shall observe and perform the follo~g terms 'and conditions :-' .

Improvements, being buildings for(~'esAA~~S (Hangar) purposes to a minimum value of Three thousand pounds (£3000) /s!aU~15~ erected on the lease within one ye~ from date of grant, and these or similar improvements to the same minimnm value for the same purpose shall be maintained thereon in good repair during currency of the lease.

, ,

(b) The lease shall be subject to the conditions of Department of Civil Aviation re~tions. .

•

PROVIDED always and it is hereby declared that such of the terms provisions restrictions and conditions herein declared and contained as require or prescribe anything to be done or not to be done by the Lessee shall in addition to being read as conditions of the lease hereby expressed to be granted . be also read and construed 1it'"f~venants whereby the Lessee for himself his heirs executors and administrators and permitted assigns covenants to observe and perform the said terms provisions restrictions and conditions.

... SIGNED SEALED AND DELIVERED BY

LESLIE ERNEST CLOUT Deputy of the

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Administrator of the Territory of Papua and New Guinea this FOURTE1iNTH day of ..

MARCH One thousand nine hundred and - ... --- SllTYErGHT --

THE LESSEE hereby accepts this lease as tenant~subject to the terms conditions provisions restrictions and covenants above set f2rth.

, "

. " The COMMON SEAL of MA1IDATED AIRLINES LIMITED was hereunto ~f'fixed by us and we do hereby certify t'hat we are the proper officers by whom or in whose presence the said Common Seal is to be affixed to all documents executed by the said Compaqy.

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Lease.

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TERS • LIMITED. Produced 26/7/1976 at

entered Ii /8/1976.

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No.HR.2231 TRANSFER to GERARD LEAHY of Mt.Hagen, Accountant. Produced 22/5/1996 at 9.04 a.m. entered 6/6/1996.

-.J rorm 3. trar of Ii tl es ~ster of

t-----------~~~~~~~~------_,~~~~~~~~~~~~~~~~~~~~--_1 ~ Lerues No.2

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d1 CthHANtGEthOF :\ CEVl.' lor' dcenhCareters i uh 7

pro uce a e S Iva a ~ ........ ! ..... . pty. Limited has changed its ,name and I is now named MELANESIAN AIRLINE COMPANY p..", .......... / PlY. LIMITED. Produced 6/7/1977 at 3.1 ~TTi~i~ p.m. entered 13/7/19~ ;,. • Deputy Registrar of Tit les . h9~6

~ f :r'tl No.BR.2443 lasE to BEVI LIFr (FtG) Pl'Y L'IDu Deputy Registrar 0 "1.1. es. with COll$,ent of the IlDrtgagee Undei' !ot>rtgage No. 100---------------......... IlR~2232. 1?roducm 07/10/1996 at 9.14 a.m. en1:eJ:iedl

i No.23552 TRANSFER to HERON AIR PlY. LTD.' 08/10/1996. I Produced 6/7/197~7 a~ 3.15 p.m. entered

'~/7/1977. ,

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Deputy Regls rar of Ii tIes. Heg11:rt:l:ar of Titles.

No.H-8227 DISCHAOOE OF ~ 1'1).8-2232. ' . at 9.06 a.m. entenrl

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P 61 of L ! I !d "the

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No.62493 DISCHARGE OF MO~GE No.2S312. Produced 31/12/1987 at 9 .34 a.m. 25/1/199tr.

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No.62494 TRANSFER to KAMSTA PTY LTD. r.L'-IU.U\";CU 31./12/1987 at 9.36 a.m. 25""1/1990 .. '/-

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Deputy Reg strar of Titles.

No.62495 TRANSFER to KUNDA-O No.28 PTY LTD. Produced 31/12/1987 at 9.39*a.m.

25/1 1990. '

tQo.62496 MORTGAGE to BANl< OF SOUTH PACIFIC LIMITED.proqus~~~t1/12/1987 at 9. 42 .. teI:~,,~,~~~~90.

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No.HR.2230 DISCHARGE OF MORTGAGE NO. 62496. Produced 22/5/1996 at 9.02 a.m. entered 6/6/1996.

~~/ Deputy Registrar of Titles.

N'.H-91t3 DISCHARGE OF MC~E NO.H-8228. Pr.duced 26/$5/2"8 at 9.t2 a. R\. entered 12/.6/2 .. 8.

.. Deputy Registrar .f Title5

N •• H-.91. t4.· . TRAN .. . , " SPER.·· .. ·· .. ... t • . Ml.CHAEL. Et<.RI .f T-.e Pr.duced 2t/tt55/2 .. 8· ' . .LJQ •

12/t6/2"8. ." 9.*4 a. D1 entered

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N •• H-9a5~OR'1GAGE t. AUSTRALIA AND NEW ZEALAND BANIQN; GROOP (Pl\G) LIMITED. Pnduced 26/f5/2 .. 8 at 9.t5 : n1 entered 12/06/2US.

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No.H. 10571 DISCHAREE OF MORTGAGE No.H. 9105. Produced 25/08/2011 at

9?S§ a.m. entered 05/09/2011

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Deputy Registrar of Titles.

No.H. 10572 MORTGAGE to BANK OF soum PACIBIC LIMITED. Produced 25/08/2011 at 9.38 05/09/2~1.

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Deputy Registrar of Titles.

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,-Port Moresby: V. P. Blolnk, Government Prlnter.-14894/l.63.

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BIDDER REGISTRATION AND PRE-QUALIFICATION CARD

Auction for which this Registration applies: Kagamuga Sect 4 Allotment 2

Bidder Number ____________ Name of Bidder ______________________________________ Address of Bidder ______________________________________ ______________________________________ ______________________________________ Phone _______________Fax_____________ Email _______________________ Registration Fee _____________ Receipt No. ___________ Date Paid_________ Financial Details Name of Bankers _______________________ Branch ______________________ Account Number ____________________Contact Person ___________________ Is finance applied for?__________ Has finance been approved? _______________ Amount of finance approved? __________________ Copy attached? ___________ Bank reference attached? _______ Other _________________________________ ___________________________________________________________________ Please note: All Bidders, if required to do so, must complete this form to enable them to bid at the auction. Failure to complete all questions may render the form invalid. Bidders must bid on their own behalf unless other arrangements are made with the auctioneers. In return for being granted approval to bid at the above auction the Bidder agrees to comply with the Terms & Conditions of the Auction as provided in this Registration Pack. Name of Bidder _________________________ Signature ____________________ Approval to Bid ________________ Auctioneer