The 2,5ha, rectangular-shaped property, the subject of a liquidation, is within minutes of the Fourways Mall and lies in the middle of prestige residential areas such as Cedar Lakes.

Park Village Auctions Peter Havenga, who is handling the mandate, says that the land lends itself ideally to either residential or commercial development or perhaps to a mixed use application. It is zoned as an agricultural holding.

Havenga anticipates bid prices of between R4,5m-R5m for what he describes as a gem of a property with enormous potential for development.

Access to the property is obtained off Cedar Road into Alexander leading to the site at 5 Randa Road, Craigavon.

The sale forms part of Park Village’s upcoming multiple property auction at the Wanderers Sports Club, on June 9 commencing at 12 noon, which also features a range of other properties in Bedfordview, Germiston, Rand Leases, Alberton, Edenvale, Marlboro, the Johannesburg business district, Hillbrow and Wynberg.

One of the Bedfordview properties is brand new and includes offices, ablutions, ample parking and excellent security, he says.

The second sale in this area is of a sectionalised office facility with warehouses, and once again with ample parking and good security.

The third Bedfordview offering is also brand new, comprising two storeys with open plan offices and various ancillary facilities generating a rental of R10000pm.

All three properties are to be found at 84 Concorde Road, Bedfordview. Among the other notables of the upcoming sale is the Court Hotel in Germiston, a four storey property opposite the council offices and courthouse, attached to the Standard Bank building.

The property has tremendous potential in its present role, or for conversion to flats with fast food outlets on the ground floor.

An Edenvale property in sale has leases in place, there is a three storey face brick building in Commissioner Street, Johannesburg which is perfect for residential conversion with a supermarket on the ground floor.

Another offer is a Hillbrow block of flats with 49 bachelor units, a double storeyed Wynberg property with excellent street exposure and security, and another Germiston property in a high traffic area with retail and letting tenants.

In addition the sale features a brand new face brick building in Rand Leases and a well maintained property in New Redruth offering good office accommodation.

Lawrence Wulfsohn of Park Village Auctions says: “Interest in auction property remains solid. Judging by initial enquiries about our June sale, there will be a good turnout and some strong bidding

“But the message remains, if you have the foresight, now is probably the best time to buy Commercial property with a view to the inevitable recovery of the market.”