Realistic property prices reflected on auction platform

Posted On Saturday, 20 July 2013 22:07 Published by Commercial Property News
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High Street Auctions announced that its next multi-property auction will be held on Thursday 25 July, at 12pm, at Summer Place in Hyde Park. 14 properties will be showcased and pre-registration has opened.

James DallThe property market appears to have stabilised as interest rates remain steady and there is a sense of returning confidence and security in property. “Property is consistently perceived as a solid long-term investment. However, we caution our buyers when purchasing property as an investment, as it is imperative to buy the right property, at the right time, for the right price, to suit their particular needs. Our team is well-educated to advise on both the property and investment industries as these are intricately connected." says James Dall, joint Managing Director of High Street Auctions.

Notable properties already receiving interest and up for auction include:

  1. Residential and retail property on Eloff Street in the Johannesburg CBD. Well situated. Building includes 5 retail outlets with basement and 3 upper levels ideal for storage or residential conversion. Plans have been drawn up for previous conversions to the 3rd floor and are available on request. The third floor currently has 25 separate offices or rooms. Each level has male and female toilets. Staff rooms with ablutions and kitchen on the roof, as well as a 2 bedroom self-contained flat. Huge signage potential as the property is visible from the M2 highway, Rissik street off-ramp and Eloff Street, which can provide additional income. Property will be sold with vacant occupation. Retail and residential demand is strong in this area.
  2. Institution instruction. Multi-tenanted building in Cedar Avenue, Richmond, Gauteng. Two triple storey buildings with a common basement level offering a total GLA of approximately 4000m2. The buildings each comprise three floors with open office accommodation, individual offices, kitchen and ablutions per floor. Each building has a passenger lift. Currently the building has 4 tenants that are on fully recovering leases which make up about 50% of the lettable space. A projected GAI (Gross Annual Income) on the total lettable space is approximately +R3.4 million. The property is in great condition with a huge upside on the rental income potential. Prime location neighbouring the Johannesburg Country Club Auckland Park. Low maintenance building. Superb investment.
  3. Busy cold storage complex sold as a going concern, in Clayville, Gauteng. Situated in a popular industrial node, close to major routes within the Ekurhuleni Metropolitan Municipality. Long leases in place with anchor tenants. Building includes a three storey office block, individual offices and retail shops with cold storage facilities. The separate warehouse is double volume with large cold storage facilities and offices. In the rear is a loading and dispatch area. The second warehouse comprises a cold room and compressor room or workshop. The business, Clayville Cold Storage, is a going concern that stores and handles pallets of fresh product and generates income from the rental and handling fee.
  4. Portfolio disposal, Main Reef Road, Benrose, Gauteng. Main road exposure and frontage. Property boasts the ideal workshop and office ratio, with a concrete yard and staff changing rooms. Offices have recently been refurbished. Large and secure entrance. Well positioned off the M2 freeway between the M1 and N3 freeways. The light industrial area is ideal for manufacturing and logistics companies.
  5. Cold storage facility in Basalt Street, Alrode, Gauteng, close to the Alberton CBD, and good access to freeways. Property features refrigeration factory and offices, one section is tenanted. Improvements comprise a secondary light-industrial building with refrigeration, offices, dispatch and manufacturing/refrigeration. Entrance features a guardhouse and two remote controlled gates. Secure on-site parking.Ample yard space. Excellent location in established industrial area.
  6. Retail block in Melville, Gauteng. Legal instruction. Ideally situated in prominent spot with great visibility and substantial traffic flow. The immediate surrounds includes mostly retail and commercial buildings, with Melville Boulevard shopping centre opposite. The property is considered a landmark site in Melville. Building includes retail space, prime restaurant space and two churches on the upper and lower floor. The property is built on a steep gradient and comprises three levels, with lower ground floor and ground floor both having direct access.A staircase is located between two shops giving access to the restaurant/church space on the first floor. The street elevation of the property allows for great visibility of the building and adds to the demand for signage

“This is a good time to buy right, specifically properties with a desirable rent capability, as good rentals are in high demand. In addition, the auction platform reflects a more realistic picture of the property market” shares Joint Managing Director, James Dall.

The auction on Thursday 25 July begins at 12pm and takes place Summer Place, 69 Melville Road, Hyde Park. Well-known auctioneer and Director of High Street Auctions, Joff van Reenen, will conduct the auction.

For more information on the upcoming auction as well as a list of featured properties contact Nick Pretorius on This email address is being protected from spambots. You need JavaScript enabled to view it. or 082 669 7738 or visit www.highstreetauctions.com

Last modified on Monday, 22 July 2013 09:05

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