Ricochet News

A Year of Records & Awards Draws to an Excellent Close

By Supplied - Nov 28, 2014
A Year of Records & Awards Draws to an Excellent Close

“High Street Auctions continues to achieve astounding growth year-on-year with hundreds of properties going under the hammer, across the entire spectrum,” according to High Street Auctions Joint Managing Director,James Dall.  Last year we hit a major milestone in selling more than R1 billion in property value. This year topped that great achievement and managed to add a global marketing award title from NAA and a record breaking R205 Million on a single lot with the successful sale of the Kyalami race track” continues Dall.

According to property market pundits the overall property market is expected to show steady growth in 2015 and High Street Auctions has managed to beat the industry growth statistics by some margin as the trend towards the auction platform gains in popularity from buyers and sellers alike.

Today’s multi-property, multi-city, auction held by High Street Auctions included office blocks, retail centres, warehousing and residential property.

Below are some of the properties that went on auction at the 27 November 2014 High Street Auctions event, held at Summer Place in Hyde Park:

  • The fully let Kamval Retail Centre in Valhalla was knocked down for R 12.75 million. Valhalla is a well-established and maintained suburb with good transport facilities allowing easy access to the surrounding areas. The centre is ideally situated on Broadway East Road and has many recognised long-term tenants. With a NAI of ± R 1.8 million this is a phenomenal investment opportunity with future development possibilities. Boasting a GLA of 1480m2, nine tenants, ample parking and an on-site caretaker.
  • The forced sale of a warehouse and distribution centre on Jeppe Street in Fordsburg was sold on auction for R 5.5 million. The stand size is 2329m2, a GLA of ±3000m2 with extra bulk available. The building includes a warehouse, retail space, offices, storage and a showroom. There is paved parking bays, a covered docking station, shutter access points, goods lifts and excellent security with CCTV cameras throughout plus a guard’s room. Overall, this is a well-maintained building.
  • The forced sale of a palatial residential property in Meyersdal Eco Estate, Alberton, Gauteng, went for R 6 million. The home boasts a grand entrance with two Cantilever staircases, four bedrooms with balconies, three bathrooms (two en-suite), an exquisite dining room and spacious kitchen. There is a large entertainment room and patio, swimming pool, two staff quarters, four garages plus a one bedroom flatlet.
  • Fully let sectional title offices in Kyalami Business Park was sold on auction for R 3.5 million. The block features a double volume reception area with a modern look and feel. The two-storey building offers dry-wall partitioned offices, open-plan office space, a large boardroom, kitchenettes and ablutions. Situated on the Kyalami Race Track with superb views. This is an excellent investment within a rapid growth area.
  • The auctioneer lifted the reserve on a fully-let retail complex, Lee Marco Centre, in Bloemfontein, following highly competitive bidding. The centre was sold for R 8.3 million. Anchor tenants include Food Zone and Absa Bank with a NAI of ± R 1.35 million. There is easy access with ample parking.
  • Offices in eMalahleni, Mpumalanga, with a national blue chip tenant, went for R 2.75 million. The face-brick double storey office building consists of a central reception area, boardroom, dry-wall partitioned offices, open-plan office space, kitchen and toilet facilities. There is ample parking.
  • A single storey face-brick office building in Klerksdorp, North West, fetched R 1.9 million. There is a national blue chip tenant with a three year lease. The GAI is ± R 253 000. The building is well maintained with air-conditioning throughout, offices, boardroom, strong room, storerooms, kitchen and male and female bathrooms plus parking.
  • Located on South Beach, Durban, the office block went for R 2.6 million. The blue chip tenant lease expires end-September 2017 with a current monthly rental income of R 38 578. The double-storey face-brick building has a combination of carpets and ceramic tiles, air-conditioned, spacious conference room and office space.

"We are continuously amazed at the growth potential in the property auction space, particularly as we expand into different cities and are able to offer live bidding via our innovative High St TV webcast facility.” comments James Dall. “It is way above industry growth as it’s credible, transparent and faster and this is a trend we anticipate will continue into 2015.”

Register on www.highstreetauctions.com to receive information on the properties and 2015 auctions, where well-known Lead Auctioneer and Director of High Street Auctions, Joff van Reenen, will conduct the auctions.

For more information on the 2015 High Street Auctions schedule and for a list of featured properties contact Nick Pretorius on [email protected] or 082 669 7738 or visit www.highstreetauctions.com.


Photo courtesy of www.printstuffs.com