Auction reaches record bids in excess of R129 million

Auction reaches record bids in excess of R129 million

Following announcement of the 2013 Medium-Term Budget Policy Statement (MTBPS), Finance Minister Pravin Gordhan relayed a clear message to increase savings and investments in order to expand and diversify the economy, as economic growth is the only path to a sustainable and optimistic future.

“Implementation is key.” says Lance Chalwin-Milton, High Street Auctions Joint Managing Director, “An improved infrastructure, will directly impact on local and international investment in property. It will also affect demand in the areas where development takes place.”

The High Street Auctions event on Wednesday 6 November included the following properties:

  • The Lichtenburg Shopping Centre went under the hammer for R 48 600 000 after extremely competitive bidding. The centre features 20 retail shops with tenants such as Shoprite, Foschini, Markhams, Rage, Edgars, and American Swiss. The GLA is ±8400m2 with a projected gross annual income of approximately R 7.4 million. The centre is exceptionally well positioned in the heart of Lichtenburg and surrounded by an abundance of parking, major banks and the post office.
  • Prospecta Centre in Linden Ext boasts both retail and office space fetched R 8 000 000. Ideally situated in Malibongwe Drive with easy access to Northcliff, Cresta, Randburg and Sandton. The well-maintained face-brick building is low maintenance, offers excellent exposure and secure parking. There is a Telkom Tower on the property with a lease until 2020, offering a guaranteed monthly income.
  • A superb multi-use office/home in the wealthy residential suburb of Bryanston was knocked down for R 4 500 000. The area is rich in high-end schools, malls, markets, restaurants and exciting activities, with easy access to the NI highway. The location offers beautiful tree-lined streets, as well as a growing business district. The stand is ±4000m2 with a ±500m2 building which currently comprises four offices, two boardrooms, reception area, kitchen, two bathrooms, a strong room, maid’s quarter, tennis court, pool and security.
  • Specialised cold storage and industrial kitchen facility available in Wadeville, Germiston went for R 5 000 000. This plant has been designed for cold storage, manufacturing, processing and packaging of ready-made consumables. The entire inside of the building is one big cold room, with designated areas equipped for high, medium or low care levels. Germiston is a favoured industrial area within close proximity to several highways.
  • Immaculate warehouse and office in Corporate Park South, Midrand was sold for R 10 250 000 after the reserve was lifted by the Auctioneer. This modern warehouse is currently used as an office and for homeware storage. Midrand is an especially popular business node due to easy highway access. There has been a surge of commercial and residential development in this area.
  • Four sectional title units in the secure office block, Parkfield Court, in Hatfield Pretoria went for a total of R 7 600 000. Hatfield is a prime business hub in Pretoria, close to the Gautrain and surrounded by embassies, shopping centres and entertainment venues. The office units are immaculate, with nine under-cover parking bays each. Ideal offices for professions offering immediate occupation.

Register on www.highstreetauctions.com to receive information on the properties for the upcoming auctions. The next auction will be held on Thursday 28 November at 12pm, and takes place at Summer Place, 69 Melville Road, Hyde Park. Well-known Lead Auctioneer and Director of High Street Auctions, Joff van Reenen, will conduct the auction.

For more information on the upcoming auction as well as a list of featured properties contact Nick Pretorius on nick@highst.co.za or 082 669 7738 or visit www.highstreetauctions.com

 

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