Aucor’s last investors’ property auction of the year attracted a capacity crowd that was offered a bumper catalogue, but bidding at times was slow.

“It’s an up and down market at present and one does not know what will sell any more,” auctioneer Eddie Winterstein said afterwards. “Some lots were passed over and in some cases we took lower bids. The market is definitely not what it was six month ago. Then there is also the trepidation about interest rates waiting to go up.”

Shannon Winterstein of Aucor said bidders seemed hesitant and that the coming holiday possibly had something to do with it.

“Perhaps it was a bit to late in the year to hold an auction this size,” he said.

First on the vendors’ roll was the Dutch Reformed Church in Melville. Bidding opened at R1m and a final bid of R2,5m was received. A 2ha industrial property with 900m² under one roof and 10 garages, at Henley-on Klip, sold for R2m; a Rivonia residence converted into office space with nine offices and gross lettable area of 280m² sold for R2m. An industrial warehouse and workshop with a gross lettable area of 1650m², in Village Deep, fetched R2,6m.

A number of properties in the Cradle of Humankind area were on offer. A 5ha agricultural plot off Beyers Naude and Kromdraai roads sold for R1m; 33,3ha land off Kromdraai and Hekpoort roads sold for R2m; and a 161ha development bordering on the Krugersdorp game reserve sold for R12,5m.

Other development land included a 16ha agricultural plot in Kkheuvel near Lanseria (R3,5m); a 3 228m² stand with family home on Fairway Avenue, Linksfield (R3,5m); and a 3,9ha development opportunity in Glen Marais Extension 73, Kempton Park (R12m). A bid of R35 000 wass received for a 314m² cul de sac stand in the Broadacres Country Estate. A service sttion and 2,35ha of retail land on Putfontein Road, Benoni, fetched a total of R13,75m. Bidding was brisk for a factory building in Kew Industrial Park, opening at R5m and moving up to a hammer price of R12m. The fully let building with a triple net lease and gross lettable area of 12 957m² has an income of R2,7m a year.

Also attracting interest was an industrial warehouse with a gross lettable area of 1050m² and 100m² of offices. The building, in Pretoria West, sold for a hammer price of R4,95m. A warehouse, in Steeldale, with a gross lettable area of 1900m² and a triple net lease, fetched R4,5m. Fully let offices off Beyers Naude Drive, Northcliff, attracted a final bid of R3,25m.

There was competitive bidding for the recently upgraded Sammic building in Vanderbijlpark. The fully let building received a final bid of R13m.

An interesting offer was 11 fully let shops in Glendower Centre. The shops, with a gross lettable area of 2395m², fetched R4,5m.

Final offer of the day was a lot of 11 freeway erven in Bryanston, brought to the market by a corporate seller. The stands, with a combined size of 27000m², sold for R9m.
 

Business Day