Best bid received for four-star

Posted On Friday, 29 May 2009 02:00 Published by
Rate this item
(0 votes)

Eight-figure bids were received for a hotel in Hout Bay at the Aucor property auction in Sandton, when 11 lots came under the hammer.

Property-Housing-ResidentialEight-figure bids were received for a hotel in Hout Bay and a residential complex in Krugersdorp on Wednesday at the Aucor property auction in Sandton, when 11 lots came under the hammer.

The auction attracted a number of serious buyers which ensured some spirited bidding.

The four-star hotel/apartments building in Hout Bay was sold as a going concern. Bidding opened at R30m and quickly moved up to the hammer price of R45m.

The 109-unit residential complex in Rant-en-Dal in Krugersdorp was sold as one lot. The complex has 72 two-bedroom flats, 35 three-bedroom units as well as a four-bedroom flat. Brisk bidding saw the hammer come down on the final bid of R46m.

A newly built 12-unit townhouse complex with a gross lettable area of 750m² in Ennerdale attained a final bid of R2,85m, and a warehousing and office building in Marlboro, sold with vacant occupation, fetched R850 000.

Offices and a factory in Germiston of 2400m², sold with immediate occupation, received a knockdown price of R2,85m.

In Benoni, a two-storey office block with a potential income of R370

Bidding was slower for a retail property with a lettable area of 350m² and an income of R11500 a month in Kempton Park, which attracted a final bid of R750000.

Two mini factories in Boltonia were sold as one lot.

The complex has a lettable area of 2740m² on a 3643m² erf and offers a proposed income of R51700 a month. It fetched R2,7m.

A large warehouse/factory with offices in Alrode was sold with vacant occupation.

The complex, including two office blocks suitable for mini factories, offers a warehouse with a lettable of 6200m2 and offices covering 1750m² A top bid of R9,5m was received.

In Fordsburg a commercial property of 3000m2 fetched R8,5m, and R5,75m was bid for a modern warehouse and office building of 1700m² on an erf of 7000m² in Kirkney Extension 12, Pretoria.

Last modified on Wednesday, 18 June 2014 18:59

Most Popular

Growthpoint begins construction of the Kent residential apartments in KZN

Aug 26, 2021
Marius Els, Development Project Manager at Growthpoint Properties
Growthpoint Properties (JSE: GRT) has commenced the development of Kent, its first…

On Auction: Iconic Redevelopment Opportunity in Oranjezicht Cape Town

Aug 26, 2021
The_Lenox
Currently operating as a 43 room guesthouse / backpackers.

On Auction: Spacious offices with multiple amenities in Norwood

Aug 26, 2021
Default Image
Spacious offices with multiple amenities on Auction in Norwood.

On Auction: Retail & Offices Property with unutilised bulk in Rivonia Johannesburg

Aug 26, 2021
KTM_Building
The anchor tenant is Road Adventure Dirt (Pty) Ltd (RAD) which is the premier KTM…

Prevance Capital launches the Executive Premier Funding Solution, targeted at experienced, successful property developers and businesses in South Africa

Sep 14, 2021
Are you tired of waiting for lengthy traditional funding methods to be approved? Prevance…

Please publish modules in offcanvas position.