Two properties belonging to the liquidated property group Queensgate will be auctioned off in the Western Cape and Gauteng during the course of next week.
A vacant piece of land covering 3ha in Randjesfontein, Midrand, will go under the gavel on Wednesday 14 July. This is in Invicta Road close to the Ben Schoeman Highway, the Grand Central Airport and the Gautrain’s proposed Midrand station.
The land was initially earmarked for residential purposes. The land is still zoned for agricultural, but the land rights make provision for a hotel and offices of no more than two storeys high.
A feasibility study for a hotel development on the land was done in 2007 by Deloittes.
Auction Alliance will facilitate the auction, which will be held at 12 noon at the Southern Sun hotel in Grayston Drive, Sandton.
The property in the Western Cape is the Agape retirement village on the corner of Ds. Botha and Hammanshand Roads in Stellenbosch. The village is 65% complete and will go under the hammer of Michael James Organisation on Thursday 15 July.
It is the third phase of the Agape development that will be auctioned off. It consists of approved plans for 64 retirement units as well as a care centre with eight beds and a dining room for 40 people. The property has a floor space of 2,090sqm.
The auction will be held on site at 11:15. – Sake24
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