A factory in Germiston that started the Bidline auction at the Inanda Country Club on Tuesday set a fast pace and the price was quickly pushed up to R7,6m.

THREE properties in the high demand areas of Church Square Pretoria, Midrand and Parkhurst will be among the lots coming under the hammer at the Alliance Group’s property auction 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.

Around 150 guests including government and media set off from Midrand on the first trip aboard the rapid-moving Gautrain, whose arrival could transform the transport industry.

'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'.

Some interesting properties including three game lodges come under hammer but auctioneer doubts sellers will find bids acceptable.

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

Acucap Properties has attributed its strong increase in distributions to good rental growth on renewal of leases.

“Industrial property was the great boom of 2006-07, leaving industrial rentals at the highest they have ever been,” says Eli Unterslak of Alliance Group.

The Alliance Group will auction the Midrand City shopping centre on September 18 at the Park Hyatt Hotel in Rosebank