Commercial Property News South Africa

Auctioned property continues to give value

The real market-related value of properties on auction continues to hold, with the recent auction by High Street Auctions of 14 properties, realising R65 million.

"Property is still king as a long-term investment," says James Dall, joint MD of the company. "Too often I hear clients wish they hadn't sold a property which they acquired years ago, as the value today would be unequalled in terms of interest on initial investment. Property will always be a solid investment, a healthy debt or asset that makes money. The key is to buy the right property, at the right time, for the right price, to suit your particular needs."

"Each month the auction feels more charged with anticipation as bidders and sellers mingle over sushi at the exclusive Summer Place venue in Hyde Park. The backdrop and atmosphere alone attracts sought-after stock and worthy buyers. One guest compared the auction to the 'J&B Met' of the property industry. Glitz aside, the platform works, as it brings like-minded buyers and sellers together looking to make a fair exchange based on facts," adds Joff Van Reenen, Lead Auctioneer.

The company's first multi-property auction in Pietermaritzburg will be held on Thursday 1 August 2013 at Redlands Hotel. The next Johannesburg auction at Summer Place begins at 12pm on Thursday 15 August.

For more information, go to www.highstreetauctions.com.

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