By Sipho Masondo

INTERNATIONAL, national and local buyers have expressed interest in bidding for two Nelson Mandela Bay blocks of flats which are expected to fetch a combined price of up to R60-million when they go under the hammer next month.

Hula Hula and La Roche, both in Windermere Road, Humewood, comprise about 90 units and are being sold by an Italian family.

Dave Summerton, of Summerton Edelson, said two Italian brothers had owned the properties through a family business for more than 20 years, and visited the city at least once a year. Now, however, the brothers wished to sell the properties as one of them wanted to retire.

“We are expecting to raise between R55- million and R60-million in total for the two blocks.”

Following advertisements placed in national and local media, Summerton said the two properties had generated a considerable amount of interest. “These buildings are among the few in Humewood which haven‘t been converted to sectional title.”

The properties will go on public auction at the Brookes Hill Conference Centre on April 8.

Source: The Herald