Yeoville takes the limelight

Posted On Friday, 27 February 2009 02:00 Published by eProp Commercial Property News
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Yeoville properties featured prominently at the Consolidated Auctioneers property auction at the Wanderers Club on Monday when a cross-section of properties in Bryanston, Northcliff, Fairland, Kei Mouth, Durban and Orange Farm came under the hammer.

 

Property-Housing-Residential“We are happy with the prices and what we realised was close to what we expected,” auctioneer Chico da Silva said.

Da Silva said it was difficult to second guess the property market; there were too many uncertainties.

“Nobody will predict what the state of the market will be two to three months down the line. But there will always be buyers for reasonable assets.”

Bargain of the day was a house with five bedrooms and four bathrooms at 237 Smith Street, in Fairland. Features include a swimming pool, tennis courts, double garage and a cottage with two bedrooms. Bidding opened at R500 000 and closed at R950 000, a sale that Da Silva described as “a real buy”.

In top spot was the Cocomo complex of 24 two-bedroom townhouses at 424 Long Avenue, Randburg. Bidding opened at R2m and closed at R6,5m.

Also attracting good bidding was Royal Building, a block of 23 flats on Main Street, Rouxville, Orange Grove, that sold for R2,8m.

A special offer was a mansion with four bedrooms en suite in Northcliff. The house, on Ebony Drive, which is air-conditioned throughout, offers a modern kitchen, study, steam room and two cottages. Other amenities include a tennis court, covered patio, a Koi pond and fountain and a four-car garage. The property attained a hammer price of R2,25m, which Da Silva described as a bargain.

“It’s a big home and not for the ordinary family who are reluctant to buy big homes because of the maintenance costs and big bonds.”

More unusual was a supermarket on a 9,48ha smallholding at Jachtfontein, near Western Areas. It was sold as a going commercial and agricultural concern, including retail stock.

Buildings include a 390m² shop and a house with three bedrooms. Land under irrigation comprises 8ha. The hammer price was R1,1m.

A 490ha farm (no improvements) near Kei Mouth, Wild Coast, fetched R1,7m. The farm, with potential for game and cattle farming, has several dams and is on the Ncuku River.

Other properties attracting seven-figure bids were a house in Fairland and four vacant stands in Bryanston.

The former, which drew a closing bid of R1,2m, has a house with three bedrooms and two bathrooms and three cottages attached. The four stands of 500m² each in the Noble Oak Estate were offered with foundations of planned houses. The stands were sold for R1,2m subject to confirmation.

One of the seven properties on offer in Yeoville, a two bedroom flat in Tygerberg, was withdrawn. Tygerberg was once a Johannesburg landmark. Also withdrawn were a three bedroom house in a deceased estate in Daggafontein, Springs, and Bidwood Court, a three bedroom house with four flats in Germiston.

Best buy of the remaining Yeoville properties, belonging to a big portfolio group, was Mirna Court, a block of four flats at 131 Hunter Street, with a monthly rental of R16 500. After brisk bidding it received a final bid of R350 000, described by Da Silva “as good value for money”.

Other flats coming under the hammer in the area were a one bedroom flat in North Hill Mansions (R75 000); a four bedroom flat with two bathrooms in Crown Court (R150 000); a two-bedroom flat in Saunders Mansions (R100 000); a one-bedroom flat in Calisto Court (R50 000); a three-bedroom flat in Caledonian Heights (R100 000); and a one-bedroom flat in Houghton Gardens (R125 000).

Three Durban properties featured. A Point Road flat got one bid of R100

In a liquidation sale, a two bedroom flat in Heidelberg sold for R165000, and a three bedroom house in Roosevelt Park for R475 000.

Last modified on Wednesday, 18 June 2014 19:02

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