An established guesthouse in the heart of Bryanston is set to fall under the Auction Alliance gavel on August 18.

House prices are expected to decline by 10% this year, but the luxury end of the market is showing strong signs that the residential market is at a turning point.

Yeoville properties featured prominently at the Consolidated Auctioneers property auction at the Wanderers Club on Monday when a cross-section of properties in Bryanston, Northcliff, Fairland, Kei Mouth, Durban and Orange Farm came under the hammer.

A 17,300m2 office development, The District, has been aquired by Growthpoint Properties Limited with Ogilvy secured as principal tenant

Developers, builders, agents and buyers face supply constraints and frustration.

THE CITY OF THE FUTURE

The family-owned Barrow Construction this year celebrates its 106th anniversary.

The catchphrase "Barrow-built" still counts, and the fifth generation of Barrows - John, Colin, Donald and Paul - are at the helm of the company.

Barrow's contracting order book has been healthy of late, including the head offices for Assore and Roche, a motor showroom for Edge Properties in Bryanston, and premises for the SA Blood Transfusion Service in Constantia Kloof.

John Barrow says the company is well positioned for on-going growth with focus on medium- to large-scale commercial and residential developments, either independently or as joint ventures.

Barrow Construction offers a full spectrum of services: land acquisition, assembly and rezoning, site development, construction and management, as well as project management and provision of a range of property, financial and commercial expertise.

Barrow Properties owns and manages office buildings on a long-term basis and various property development companies within the group undertake speculative property developments that are either sold or leased.

Barrow Properties had a good 2002, continuing with the R100-million Pinewood office park and Pinewood Square sectional title office development in Woodmead, the R150-million Thornhill office Park in Midrand and the upmarket Parc Nicol development in William Nicol Drive.

Barrow Flooring secured contracts for Nedcor, De Beers and Ericsson, while another subsidiary, Gauteng Piling, secured business in Angola and Botswana, begging the question whether Barrow intends expanding beyond its traditional Gauteng base.

"We have no aspirations to move outside Gauteng with contracting and property development operations, though the flooring and piling operations must necessarily go further afield," John Barrow said.

Barrow expects to build on the strength of its integrated offering this year. New contracts, refurbishments and securitisation of spec developments will mark major trends.

Pretoria - Redefine Income Fund's R356.4 million bid to acquire a portfolio of 27 investment properties from Rand Leases Properties (RL Props) had been approved by linked unit holders of both companies, the listed property loan stock company reported yesterday.