This success is attributed to the growing interest in the auction platform concurrently with the property market gaining momentum.
"The steady recovery in both the residential and commercial property markets was mirrored in today’s auction. Properties remain solid investments due to the low interest rates." says Lance Chalwin-Milton, the joint Managing Director of High Street Auctions. "There is a definite increase in potential bidders, perhaps due to the independent valuation of the properties prior to the auction. Property prices are increasing year-on-year which means keen investors are snapping up good value properties."
On Wednesday 19 June 2013 at 12pm, High Street Auctions brought the following highly desirable properties to discerning investors:
- Bustling double storey Retail Plaza strategically situated in the Rustenburg CBD, on a main road out to Sun City. Fully let with a waiting list of potential tenants. Fast-paced bidding fetched an impressive R 28 000 000.
- Three massive residential complexes with 266 fully let units in Tembisa. Secure property in key location. High-speed bidding saw the property receive a hammer price of R 60 000 000.
- Saxonwold Offices, Gauteng. Set in the leafy and prestige suburb of Saxonwold, these Jan Smuts Avenue offices are a solid investment in an upmarket suburb. Double storey, available for immediate occupancy. With the reserve lifted, renewed interest saw the property knocked down for R 8 400 000.
- Block of Offices & Residential, Germiston CBD. Superb property with excellent income. Mobile operator rents the roof space for a cellular tower. Well maintained overall. Reserve was lifted generating greater attention which saw the property go under the hammer for R 7 250 000.
- Edenburg Office Park, Rivonia. Situated in a sort after suburb in Johannesburg, this office park is a desirable investment for any commercial property investor. The premises are well-maintained, boasting a walk-in-safe and full power emergency generator. Competitive bidding reached R 5 900 000.
- Student Res, Glen Austin, Midrand. Massive debit order annual income. The property has several self-contained brick structures with all the necessities and more. All assets included in the sale. Communal entertainment area with swimming pools. Property went for R 5 500 000.
“At each auction we see new faces and an unquestionably greater interest in the auction platform as a viable tool for bidders and sellers. It’s a fast-paced environment combined with superb properties, a mixture of bidders and sellers across all demographics and the High Street Auctions unique environment which is re-building the industry,” says Joff Van Reenen, Lead Auctioneer.
For more information on the upcoming auction as well as a list of featured properties contact Nick Pretorius on This email address is being protected from spambots. You need JavaScript enabled to view it. or 082 669 7738 or visit www.highstreetauctions.com
