Cape Town & Gauteng August auctions

10 Aug 2012

Auctioneers have revealed a must-buy list of commercial and residential properties to be auctioned this August in Johannesburg and Cape Town.

Located in Steinbeck Way, off the prestigious Klaassens Road in Bishopscourt, this home will be auctioned on site on 16 August by Rawson Auctions.

Aucor Property will hold a multiple property auction on 14 August at the Park Hyatt Hotel in Rosebank, Johannesburg at 11am.

Mark Kleynhans, director of Aucor Property, says with three commercial and residential auctions under their belt, the Aucor Property team is settling into the market.

He says based on the positive feedback to date and the number of enquiries from both buyers and sellers in Gauteng and in the Western Cape, they can see that the market has confidence in both selling and buying property using the auction platform and the results that it brings.

“With the current rate cut and the demand for good quality commercial, industrial and retail stock we fully expect to see a turnout of qualified buyers looking for the right properties on the day,” he says.

The multiple auction will see 18 lots for sale on the day. Some of the featured properties include:

1.The Straight

Located on the corner of Forest and The Straight Street in Lonehill Ext 83 in the Fourways Business node, unit No. 2 of the Sectional Scheme Corner on The Straight is two storeys measuring 507 square metres.

The Corner on the Straight is a sectional title development comprising of two buildings, namely Buildings 1 and 2.

The Scheme comprises of twelve sections with a total registered area of 6 415 square metres ranging from 115 to 2 062 square metres.

This property is located at 6 Jacobs Street in the heart of the industrial node of Chamdor on the West Rand, and is approximately 8km south-east of Krugersdorp CBD.

It also features a basement which is used as parking and store rooms.  

Unit no 2 is zoned for Business 4 and includes parking No.P14, P15, P16, P17, P51 and storerooms ST7 and ST8 forming part of the common property.

The Scheme is adjacent to the Gantry and Pineslopes Shopping Centre as well as a number of other popular home décor retail outlets and is therefore well suited to its current use.

Other major commercial developments in the surrounding areas include Cedar Square, Fourways Crossing Shopping Centre, Fourways Mall, Fourways Value Mart, Pineslopes Centre and Montecasino gaming and entertainment centre.

The property is currently occupied by Mias and will be sold with vacant occupation.

2 Chamdor, Krugersdorp

This property is located at 6 Jacobs Street in the heart of the industrial node of Chamdor on the West Rand, and is approximately 8km south-east of Krugersdorp CBD.

The general area is an established industrial suburb that comprises a mixture of medium and large sized buildings of various industries.

Unit 9 at Red Lion building is regarded by many as one of Cape Town’s best examples of a total upgrade to an existing CBD building.

Nearby suburbs include Mindalore, Witpoortjie with Kagiso to the south of Chamdor.

The area is accessible via Chamdor Road, which is the main arterial connecting road to Ontdekkers Road.

Access to the property from Ontdekkers Road is via Chamdor/Adcock Road, then into Jacobs Street. 

It features two factory buildings with offices situated on an erf size of 1.6495 hectares.

The total GLA is 9 365 square metres and the property is zoned for industrial 2. The factory buildings both offer high ceilings (±7m).

The eastern factory building is the largest with a GLA of 4 497 square metres and office area of 55 square metres and houses a double storey production office, factory areas and a pump house.

The western factory building has a GLA of 3 183 square metres and houses 2 mezzanines measuring 379 square metres,  factory areas and a storage area on the eastern side of the building.    

The property is currently owner occupied.

3. Chamdor, Krugersdorp

Located at 38 van Eck Street on an erf measuring 2.0556 hectares, it has a total GLA of 11 352 square metres.

Located on the corner of Forest and The Straight Street in Lonehill Ext 83 in the Fourways Business node, unit No. 2 of the Sectional Scheme Corner on The Straight is two storeys measuring 507 square metres.

It features a main factory building, an additional factory/warehouse building at the rear of the property, a main office building and a small office building at the rear as well as a guard house.

The factory/warehouse buildings are divided into sections by means of metal cladding or fencing.

The property currently has a lease for 350 square metre storage space which is due to expire on 30 September 2012.

4. Aureus, Randfontein

The property is situated at 19 Bussing Road in Aureus approximately 2.2km south-west of Randfontein.

Aureus is accessible via an established network of roads with the R28 (Main Reef Road) being the main area connecting road.

Access to the subject property from the R28 is via the R559 and into Bussing Road.

The property has a GLA of 4 342 square metres and features four interconnected factory buildings situated on 1.4361 hectares with zoning for Industrial 2.

In addition to this the property has an office component and a guard house.

The factory buildings are accessible via multiple roller shutter doors and internal ramps with concrete flooring.

It will be sold with vacant occupation.

The Pearl of Hout Bay complex is once again on the market - and ideal for sectional title development, says Tanya Jovanovski, Rawson Auctions franchisee for the Western Cape.

Although this upmarket three level residential/hotel/B&B complex, which consists of 20 sectionalised units (two bedroom luxury furnished apartments) and 22 basement parking bays, failed to attract buyers in the previous auction, the seller is willing to sell and is open to offers via Rawson Auctions.

The reserve price was set at around R27 million and the property did not get bids.

Although this upmarket three level residential/hotel/B&B complex, which consists of 20 sectionalised units (two bedroom luxury furnished apartments) and 22 basement parking bays, failed to attract buyers in the previous auction, the seller is willing to sell and is open to offers via Rawson Auctions.

Jovanovski points out that the sectional title registry for this complex has already been opened – meaning 20 units measuring between 77 and 147 square metres could be sold off individually at prices from R1.2 million to R1.5 million.

The first floor is zoned for commercial – and could be rented out or sold.

“There is a shortage of commercial space in Hout Bay so the take-up would be fast and the centre could also become a frail care facility or old age home.”

She says alternatively, if rented out as a block of furnished apartments, these units could achieve rentals of between R8 000 to R10 000 per month – which would give a very good return for any investor.

On 16 August, Rawson Auctions will auction on site a home in Steinbeck Way, off the prestigious Klaassens Road in Bishopscourt.

The home, although perfectly habitable as it is now, could easily be renovated and thereby have some 35 percent added to its value, says Jovanovski.

She explains that the double storey home is typical of the grand large and imposing mansions found throughout Bishopscourt.

Set on 1 092 square metres erf, it has three bedrooms, two bathrooms, a formal lounge cum dining room, a TV family room and a large open-plan kitchen with oak cabinetry, an under-counter oven hob and an extractor fan.

The garage can accommodate four cars.

Located at 38 van Eck Street on an erf measuring 2.0556 hectares, it has a total GLA of 11 352 square metres, this property will be auctioned on 14 August.

Jovanovski is expecting bids in the region of R2.5 million and the reserve price has been set at R3 million.

On 15 August, Rawson Auctions will sell a central city studio apartment located in Longmarket Street in Cape Town.

The auction will take place at 12pm at the Rawson Property Group Head Office situated at 222 Main Road in Rondebosch.

Unit 9 at Red Lion building is regarded by many as one of Cape Town’s best examples of a total upgrade to an existing CBD building.

The apartment measures 56 square metres in floor area with a kitchen fitted with all of the most modern appliances (including a washing machine, tumble drier, dishwasher, refrigerator, oven and extractor fan).

Jovanovski says the going rate for apartments in this block in recent months has been R900k or more and she expects opening bids to come close to that price because buy-to-let investors know that demand for urban lifestyle CBD apartments in Cape Town is still very strong.

“The last 10 years have seen a huge rise in the call for this type of central city accommodation, as a result, the more recently developed units throughout the CBD are now appreciating in value at 6 to 7 percent per annum,” she says.

The apartment to be sold, although chic and sophisticated, is priced at almost half what is being asked for similar new CBD flats – but provides everything that they do, according to Jovanovski.

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