An auctioneer has been stunned by the developers refusal to bid for a 700ha golf estate at a much anticipated auction in Sandton, north of Johannesburg, on Wednesday.

Forty-five registered buyers turned up for the Alliance Group liquidation sale of six luxury cluster homes, completed and under construction, and two commercial properties in Sandton last Friday.

Alliance Group will auction the Mahem Hotel and adjacent convenience centre, at 495 Richards Bay Avenue, Kirkney, Pretoria, next month.

THREE eight figure bids, a 36% confirmation rate and an odd but successful bid were highlights at the Alliance Group’s first auction of the year.

'A positive spin-off of this situation is that sellers are becoming more realistic about pricing their properties, and are no longer expecting unachievable prices'.

Investors and owner-occupiers recognise the need for industrial warehouse space in growth areas with an accessible workforce and reduced commuting times.

Fidentia’s two office buildings may be sold for more than the initial R41.6-million bid, in an answer to its curator’s prayers.

'It’s the first time a whole city block has been sold in Cape Town’s central business district, which is exciting news for the city.

'Still lots of buyers' for the sale that has been dominated by retail buildings in small towns.

Eighteen properties, including a national monument, went under the hammer at an auction packed with 250 potential buyers in Cape Town yesterday.