By Madden Cole

Six buildings covering half a block in New Doornfontein and factory premises in Wynberg were among the frontrunners at the Park Village property auction in Johannesburg last week .

There were no offers for a former factory in Droste Park Extension I, and there was no interest in the liquidation sale of three buildings in Marlboro South/Wynberg, but this was offset by other lots sold and confirmed at the fall of the hammer.

The six buildings cover half a block bordering on 9th, Voorhout and Upper Railway Streets, New Doornfontein.

The complex provides a total lettable area of 3842m² and a net income of R388680 a year. A hammer price of R3,15m was achieved.

The auction began with the sale of a commercial building in Bertrams Road, Bertrams. Tenants of the one storey pre-war building include a pharmacy, grocery shop and motor spares dealer, bringing in an income of R137 280 a year. A final bid of R910000 was accepted.

Another interesting old single- storey building, harking back to the 1920s, fetched R225000 . The building houses three shops on Jules Street, Jeppestown.

Jeppestown featured again with a three-storey building offering a total lettable area of 2300m². A hammer price of R2,75m was achieved.

Auctioneer Clive Lazarus said Jeppestown had the potential to be the next suburb to be upgraded after Doornfontein.

Described as “very lettable”, a four-storey building with 1700m² space on each floor on Durban and Meikle Steets, City & Suburban, received a signed offer of R3m before the auction. No higher bids were received. A furniture factory occupies three floors of the building.

A factory building over two stands in Ophirton sold for R2,3m. The building has a total lettable area of 2700m² and an income of R228800.

Also attracting interest was a six-storey vacant building on Nugget and Pritchard Streets. It sold for R3,1m.

Two million rand was paid for a light industrial building on the corner of Main, End and Marshall Streets, City & Suburban. As it is close to the highway, it is suitable to be used for advertising space.

The building on Pretoria Main Road offers triple volume space and was sold for R5m. It is described as an “exceptionally clean” building and is being used as a factory.

Business Day