Sales cheer for ClareMart

Weekend Argus (Saturday Edition) - - AUCTIONS -

DE­SPITE chal­leng­ing mar­ket con­di­tions this year, ClareMart Auc­tion Group has s e e n a n in­creased sales con­ver­sion rate in the com­mer­cial and res­i­den­tial prop­erty mar­kets, says di­rec­tor Far­rell Per­ling.

“An in­creas­ing num­ber of top-end res­i­den­tial prop­er­ties in fash­ion­able ar­eas of Cape Town were sub­mit­ted to pub­lic auc­tion and re­sulted in con­firmed sales,” Per­ling says.

“Among them were a record num­ber of At­lantic seaboard prop­er­ties. About 80 per­cent of t he high-profi l e re s i den­tial prop­er­ties that we brought to auc­tion in the area this year were sold. These in­clude an ex­clu­sive Fresnaye res­i­dence that was sold to a lo­cal busi­ness­man for R12.6 mil­lion, and an im­mac­u­late home in Bantry Bay which fetched R7.5m.”

In ad­di­tion, there were a num­ber of high-value sales in the souther n and norther n sub­urbs, a high­light be­ing a Bish­op­scourt home that achieved just over R10m.

Other high-pro­file res­i­den­tial and com­mer­cial prop­er­ties s o l d by Cl a r e Mar t Auct i o n Group this year have in­cluded a Pinelands apart­ment block, which was sold to an East­ern Cape in­vestor for R12.1m, and Re­gency Court, a ren­o­vated Sea Point build­ing with re­tail and res­i­den­tial com­po­nents, sold for R9.6m.

On the devel­op­ment side, a num­ber of sales were also con­cluded, in­clud­ing a va­cant site on the corner of Koe­berg and Race­course roads in Mil­ner­ton which reached a ham­mer price of R20.7m.

The auc­tion group will be in­tro­duc­ing a new auc­tion plat­form – the monthly Plat­inum Res­i­den­tial Port­fo­lio – cater­ing for the top end of the mar­ket, says Per­ling.

“An ad­van­tage of the new model is that there will be no a dve r t i s i ng c o s t s t o s e l l e r s when we bring their prop­er­ties to the mar­ket. One of our ob­jec­tives for 2011 is to make the auc­tion model more ac­ces­si­ble and we feel this new plat­form will make the process even more at­trac­tive.”

He adds that the com­pany’s mul­ti­ple com­mer­cial and flash res­i­den­tial auc­tions will con­tinue to be held monthly.

Pe rl i n g i s c o n f i d e n t t h e m a rke t w i l l c o n t i nu e t o im­prove in 2011, es­pe­cially in light of the low in­ter­est rate and be­cause the con­fi­dence of in­vestors seems to have grown since the World Cup.

ClareMart’s next mul­ti­ple com­mer­cial auc­tion will take place at 12.30pm on Wed­nes­day, Jan­uary 26, in the Ball­room of the Mount Nel­son Ho­tel.

For more in­for­ma­tion, call 021 425 8822 or visit www.clare

TOP-END PROP­ERTY: This ex­clu­sive Fresnaye res­i­dence reached a ham­mer price of R12.6 mil­lion on auc­tion and was sold to a lo­cal busi­ness­man.

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