Auction Alliance takes its old head office to auction

Posted On Wednesday, 09 June 2010 02:00 Published by eProp Commercial Property News
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Putting its own auction profession to the test and showing its clients how to lead from the front, South Africa’s leading auctioneer house, Auction Alliance, will be taking its own head offices in Cape Town to the auction floor

Rael LevittThis after having acquiring a new five story head office in the city’s high profile Wale Street.

For two decades, Auction Alliance has led the South African auction sector and it has revolutionised the industry to become a preferred method of real estate sale. Now, to show its confidence and solid belief in the auction mechanism, the company will be taking its own head offices to auction. For its new head offices, Auction Alliance has recently purchased a well known building at 51 Wale Street in Cape Town, on the corner of Bree Street for R26 million.

The property to be auctioned is situated on the second floor of Soho on Strand, located at 128 Strand Street in Cape Town. It extends over approximately 1 000m2, which covers in excess of half of the building’s second floor. The space will be auctioned as currently maintained – with an open-plan layout, five closed meeting rooms, an extensive boardroom that offers panoramic views of Table Mountain, an adjacent auditorium for presentations, a kitchen, multiple bathroom facilities, rounded off with an elegant glass entrance foyer specially designed by German architects. Large perimeter windows allow for abundant natural lighting.

All rooms are air-conditioned and the building is serviced by lift access. The astute buyer will also acquire in their purchase, 20 secure undercover parking bays that offer security for employees and visitors, with 24-hour access and a security controlled entrance.

The property is ideally located on the edge of the financial district at De Waterkant – one of Cape Town’s trendiest business and boutique retail nodes. This strategic location has afforded Auction Alliance many good years as the company has grown from strength to strength, says Rael Levitt, CEO of Auction Alliance: “We hope that the new owner will enjoy the same success that we have. This is a very central business location and would be an ideal site for attorneys or architects.”

The property, which will be auctioned on 9 June 2010 at 12h00 at the Crystal Towers Hotel and Spa in Century City, Cape Town, is ideal for an owner-occupier, offering vacant occupation as from 1 August 2010. The property next door, ICG House, was recently sold for R36,8 million.

Auction Alliance is excited to be moving onwards and upwards to its new premises. The new head office is five-stories and is approximately 3 500m² in size, which includes two levels of basement parking. Auction Alliance will occupy two floors and are spending over R5 million in installation and signage costs. Other tenants include the Public Prosecutor and the Lottery Company.

Comments Levitt: “Our investment in this building not only reflects our confidence in the Cape Town Central Business District, but also in the commercial property market at large.”

Ryan Joffe, who has successfully sold the majority of Cape Town CBD buildings over recent years, will be handling all queries on this property and can be reached on This email address is being protected from spambots. You need JavaScript enabled to view it. or 082 333 1665

Last modified on Tuesday, 10 June 2014 14:15

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