Combination of a decline in prices and drop in interesf rates sees keen bidding for commercial buildings.

Alliance Group has hosted its monthly auction at Cape Town’s One&Only resort, offering a plush location for properties warranting five-star treatment.

Alliance Group will be selling Oak Park in Oak Avenue, Ferndale this month — this property is a well-maintained five-storey office block which is multitenanted and has a low maintenance exterior.

With the World Cup only months away and tourists already making their plans for accommodation in South Africa, this would be the prime time for people to start buying into hospitality property.

Alliance Group will be bringing two well situated commercial properties to the auction floor on July 15.

As the murmur of voices grew into an intense hum, the auctioneer’s voice cut through the assembled crowd, calling the bids as the auction rose in intensity.

An auctioneer has been stunned by the developers refusal to bid for a 700ha golf estate at a much anticipated auction in Sandton, north of Johannesburg, on Wednesday.

Forty-five registered buyers turned up for the Alliance Group liquidation sale of six luxury cluster homes, completed and under construction, and two commercial properties in Sandton last Friday.

Alliance Group will auction the Mahem Hotel and adjacent convenience centre, at 495 Richards Bay Avenue, Kirkney, Pretoria, next month.

A-grade offices in the Pineslopes-Fourways area will be brought to the auction floor by the Alliance Group this month.