The partially-completed Tanglewood Estate project on the banks of Roodeplaat Dam, north-east of Pretoria has come to a halt and finally the property will go on auction next Thursday.
The estate has two sections: the northern side that has been set aside for a variety of different leisure activities such as fishing, boating and water sports and the southern side where several four-star luxury units were meant to be completed.
So far only six of the planned units have been built and are partially furnished while another six units have reached roof height but are incomplete. There are various other residential units under construction.
The conference centre and the restaurant are complete. The property’s zoning allows for offices, a tea garden, ladies’ bar, laundry, chapel and tuck-shop to be built alongside the residential units.
Originally 49 luxury, fully-furnished units were planned for Tanglewood Estate and the plans for the completed site have apparently been approved.
For more information on this auction contact Van’s Auctioneers on 086-111-8267 or via the Internet at www.vansauctions.co.za.
Another interesting investment opportunity is on auction outside Sasolburg where the Kragbron Township is being auctioned after the development company was placed in liquidation.
The development originally housed employees working at the Taaibos and Highveld power stations but when these closed down the township was sold. Kragbron Township comprises 460 homes in an established suburb.
Apparently 180 of the properties – either three- or four-bedroomed units – are currently being rented, generating income of R700k a month. Plans for a further 200 units in the suburb have already been approved but work has not started on any of these approved units.
Included in this sale are the offices used by Eskom staff, stores and the recreation facilities that comprise a swimming pool, a rugby or soccer field and a bowling green.
There is a school, petrol station, general dealer and a church in the area.
The auction is being handled by Park Village Auctions (011-789-4375/6/7) or www.parkvillageauctions.co.za.
In a separate auction, Aucor is selling a string of residential properties that range from an apartment in The Parktonian to a luxury three-bedroom home in Bedfordview. The auctions include townhouses, family homes, vacant land and even a boutique hotel in Kempton Park.
For more information about these auctions contact Aucor on (011) 237-4356 or www.aucor.com.
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