Positive Results in 2012 shows appetite for Property Auctions

Posted On Tuesday, 04 December 2012 10:42 Published by eProperty Auctions
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There is no denying that 2012 has been a very interesting year for the property sector. It has had its ups and downs, but the low interest environment sparked renewed interest in the commercial property market, particularly through auctions.

Aucor Property Auctions

 

 

 

 

 

 

Proof of this renewed interest could be seen on Aucor's auction floors across the country, where numerous commercial properties generated extensive interest and were successfully sold, achieving promising prices for sellers.

Comments Mark Kleynhans, Aucor Property Director, ''The results achieved during the course of the year show that the market is moving again.

Deals are being concluded and there is growing confidence, particularly in property auctions. The events which took place earlier in the year forced auctions to become even more transparent, a factor which Aucor has strongly enforced throughout the company's 44 successful years.''

Many experts in the industry expect property auctions to continue growing well into 2013, and beyond. Adds Bradley Stephens, Aucor Property Director, '' Our national clients include listed funds, investors, private companies and individuals, all of which utilise the auction platform to successfully restructure their property portfolios.

The bottom line is that auctions are an attractive means of selling property to a market which is seeking quality stock at market related prices. We have definitely noticed an increase in the amount of investors seeking such stock, and evidence of this is the busy activity we have seen on our auction floors over recent months.

Ultimately, there is a demand for good stock with many buyers eager to utilise the auction platform to make their purchases.''

With a national footprint, Aucor hosts various monthly property auctions in major cities across South Africa, each attended by eager investors. The group sold over 150 properties nationally since June 2012, comprising of commercial, industrial, retail and residential property.

Key sales include a shopping centre in Lydenburg which sold for R35.6 million, an Edgars Retail Centre in Klerksdorp for R11.2 million, a mixed use industrial Queenstown property for R11.2 million, a Hartbeespoort commercial property for R11 million, 9 residential properties in Noordhoek for R10.8 million and a prime industrial property in Eastleigh which went under the hammer during November for R17.2 million.

One of Aucor's most successful auctions was during October when the group sold over R85 million in stock at one auction event.

''We look forward to 2013 as we anticipate the market to grow even further, and are already canvassing stock for our first Multiple Auction of 2013 which will be held on 12 February,'' concludes Kleynhans.

Last modified on Saturday, 31 May 2014 09:39

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