“The market remains tough and there is no indication of what will happen. Last year the market was buoyant but this year it is struggling,” says auctioneer Eddie Winterstein.

“Residential auctions are fairly consistent, but the commercial sector is tough. I wish I knew what lies ahead this year, but I just don’t know.”

Sold as a going concern, the lodge achieved a hammer price of R17,5m after an opening bid of R10m.

An eight-figure price was also fetched by a townhouse complex in Weltevredenpark. The 38-unit modern face-brick complex, earning an income of R16000 a month, received a final bid of R15m after an opening bid of R10m.

The sale kicked off with the offer of a family home, suitable for a bed-and breakfast establishment. The property has a squash court, a shooting range in the basement and will have 12 bedrooms when it is completed as a bed-and breakfast business. It fetched R1,85m.

In Newlands, the Autoport Car Sales lot, with a gross lettable area (GLA) of 2291m² and an income of R408000 a year, fetched R2,2m.

There were no bids for 20000m² of residential development land in Norton Park Extension 22, Benoni. The property, suitable for 63 residential units, comes with plans for a retirement village.

Nine industrial mini factories with a GLA of 1620m² on a 4531m² erf fetched R2,5m, and a fully let property suitable for a filling station, convenience store and flats in Roodepoort realised R1,4m.

An industrial workshop on four erven totalling 2173m², and with a GLA of 1749m², received a best bid of R2,25m

In Barbeque Downs, Kyalami, a sectional title complex with a warehouse, offices and two coldrooms fetched R3,6m.