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5869 ANZ Mortgagee sale Ma'ufanga 8 Feb-6 Mar 2021

ANZ Banking Group Limited


Property Located at Ma‘ufanga, Nuku’alofa, Tonga

INTERESTED PARTIES are invited to tender for the leasehold land and improvements described below (hereinafter referred to as “the Property”) by ANZ Banking Group Ltd (ANZ).
The Property is situated at Ma‘ufanga and is described as Lot 1, Survey Office Plan 79/93-P21, registered lease number 8267.

Details of the Property are as follows:

Expiry Date of Lease: 27 September 2042
Rental per-year $100.00 T.O.P.
Area: Land: 759.7m2

The Property is offered on an "as is where is" basis

The disposition of the Property will be by way of transfer of the lease and is subject to approval from the Minister of Lands, Survey and Natural Resources and the Cabinet of the Government of Tonga.

The highest or any tender need not necessarily be accepted.

Each tender bid is to be in writing and accompanied by a bank cheque in the amount of 10% of the bid lodged, such cheque being payable to Stephenson Associates Trust Account (Stephenson Associates being the law firm nominated by ANZ to act as escrow agent in respect of the transfer of the Property).

Deposits will be returned to the unsuccessful tenderers within fourteen days of the successful tenderer being determined.

The successful tenderer will be notified in writing and will be required, as a condition precedent, to pay a further 10% of the bid price by bank cheque within five working days of being notified of the acceptance of their offer, and to enter into a formal agreement for the transfer of the Property reflecting the terms of this tender and otherwise as acceptable to ANZ.

The balance of the bid price will be payable within five working days of the date that the parties are notified of the granting of cabinet approval to the transfer of the lease.

All costs required for the completion of registration of the transfer such as registration fees etc. shall be borne by the successful tenderer.

All bids will be deemed to be exclusive of consumption tax (if any).

ANZ will not be liable for any costs associated with the Property after the transfer of the Property to the successful tenderer has been completed, except for any outstanding utilities costs incurred while the Property was in ANZ’s possession.

In the event that the necessary consents to the transfer of the lease to the successful tenderer are refused then all monies paid by the successful tenderer to the Escrow Agent or to ANZ will be refunded within 14 days from the date that ANZ is notified of the refusal of such consents.

All enquiries regarding inspection of the Property should be directed to Fokikovi Soakai.

Tenders close at 5:00pm on 6 March 2021 and should be delivered in a sealed envelope and addressed as follows: -

ANZ Banking Group Ltd.
Ma’ufanga Branch,
Cnr. Vuna Road & Bypass Rd.,
Attention: Fokikovi Soakai.

No tenders will be received or considered after 5:00pm on 6 March 2021.