Novem­ber mul­ti­ple prop­erty auc­tion re­view

Weekend Argus (Saturday Edition) - - AUCTIONS -

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

ON THE GO: Auc­tion­eers An­drew Koch and Jonathan Smiedt in ac­tion at Clare­mart’s Novem­ber mul­ti­ple auc­tion.

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