Best bid received for four-star

Posted On Friday, 29 May 2009 02:00 Published by
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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

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