Property auction formula a resounding Success

Posted On Monday, 14 April 2014 09:24 Published by eProp Commercial Property News
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"Real Estate auctioneering is very difficult and companies need to be highly proactive to do the job justice.

Office and Retail

This industry is fast-paced and has almost turned into a science with a clear formula for success," says Joff Van Reenen, Lead Auctioneer and Director of High Street Auctions.

The 10 April 2014 High Street Auctions event, held at Summer Place in Hyde Park included the following properties:

  • Excellent potential office headquarters in Kent Avenue, Ferndale in this large office block. The building offers superb architecture, multiple offices and a massive atrium. With good security, 177 parking bays and a GLA of 5399m2, there is also potential for residential conversion. The building was sold for R25million.
  • Combined retail and office block in Vereeniging, went for R 6.1 million. The building boasts five storeys and is current partially let. The GAI is over R 1.8 million. Great exposure on the building, with 18 parking bays and access to main and secondary roads.
  • Office block with showroom facilities on Beyers Naude Drive in Risidale, Gauteng was knocked down for R 4.25 million. The well-designed office block has two storeys and is in a great location with good exposure and signage potential. The building includes 21 parking bays, two separate entrances, storage facilities and an entertainment area. Vacant occupation.
  • A portfolio disposal of a combined factory and warehouse went for the hammer price of R 2.845 million, with highly competitive bidding. There is a fully let single tenant with a three year triple net lease. The factory has 300 Amps power, small refurbished offices and roller shutter access.
  • A triple storey office building on Van Riebeeck Street in Edenvale CBD reached R 8.5 million. The ground floor is a banking mall, with upstairs offices and basement parking. Vacant occupation. The office block has easy access from various routes and is a prime location.

"Investing in property will always be ideal, and includes tax benefits. Having a successful property portfolio can increase your net worth making it a sound investment to consider," comments James Dall, Joint Managing Director of High Street Auctions.

Register on to receive information on the properties for upcoming auction, held on Thursday 22 May which begins at 12pm and takes place at Summer Place, 69 Melville Road, Hyde Park. Well-known Lead Auctioneer and Director of High Street Auctions, Joff van Reenen, will conduct the auction.

Last modified on Friday, 30 May 2014 20:34

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