November multiple property auction review
C L AREMART AUCTION Group hosted its November multiple auction at the Mount Nelson Hotel on November 30.
The immovable property auction was divided into three groups – multiple commercial and industrial property, platinum residential and flash residential property.
“The well-attended auction event was characterised by numerous property entries and many offers,” says sales director Farrell Perling.
“There was continued interest in industrial property, highlighted by the closing bid for a 1 590m2 showroom and factory at 4 Dawn Road, Montague Gardens, which was s o l d f o r R7 million after some competitive bidding.
“Another property t hat evoked fierce bidding was a prime development site in Sea Point, at 6 Norfolk Road and 4 Wisbeach Road, which is zoned R2. The plot has access from both roads. The property is close to Sea Point amenities and the promenade, and was bought for R5.1m by an international group with development i n t e r e s t s i n S o u t h Africa.”
He says a number of other c o mme r c i a l p r o p e r t i e s received interest at the auction and are under negotiation.
The platinum residential auction included a diverse selection of properties, including apartments and prime local and countrywide residential sites. The highlight of this auction was the sale of the luxury Bantry Bay home at 4B Avenue Marina, for R12.5m.
The flash residential auct i on f eatured a number of i nvestment opportunit i es which i ncluded deceased estates, liquidations and insolvencies.
“The legal entries attracted some expected and significant bidding and we are very satisfied with the prices for these entry-level and investment residential properties,” says Perling.
“It was clear from the various auctions that there are buyers looking for properties that offer value across all categories, from commercial and industrial, luxury residential and investment and entry level properties,” he says.
“Properties priced at accepted market levels stand a very good chance of finding cash buyers at one of our auctions.”
For information on the various types of properties listed wi t h Cl a r e Mar t Auct i o n Group, call Farrell Perling on 021 425 8822 or visit www.clare mart.co.za.
ON THE GO: Auctioneers Andrew Koch and Jonathan Smiedt in action at Claremart’s November multiple auction.