Auctioneers observe surge in value of commercial property

Posted On Thursday, 13 June 2013 18:15 Published by Commercial Property Auctions
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After a lackluster performance in the past four years, the South African property market is now gaining momentum. 

Lance Chalwin-Milton"We are seeing a slow and steady recovery in both the residential and commercial property markets. High end properties are great investments at the moment due to the low interest rates. If you are able to get finance and have the appetite to grow your portfolio with quality properties in reputable locations, the chances are that you will be able to find the right property for you on auction." says Lance Chalwin-Milton, the joint Managing Director of High Street Auctions. "The great advantage of buying a property on auction is that you are able to commission an independent valuation of the property prior to the auction,  so you  know in advance exactly what you are bidding for and what a fair price for the property is - there are no hidden downfalls."

During 2012, the house price index for medium-sized houses rose by 9.53% (3.57% in real terms), the highest year-on-year increase since February 2008, based on figures released by ABSA. House prices increased by 2.93% (1.63% in real terms) during the latest quarter.

In January 2013, the average price of small homes (80-140 sqm) was R789,400 the average price of medium-sized homes (141-220 sq. m) was R1,077,700 the average price of large homes (221-400 sq. m) was R1,592,800.

According to the FNB Valuers' Market Strength Index, recent relative market strength has been the result of the combination of positive residential demand growth as well as a little more constrained supply of residential stock on the market.  Low interest rates also continue to support the property market, due to the affordability of mortgage finance, making property investment an attractive option.

On the 19 June 2013 at 12pm, High Street Auctions will be bringing the following highly desirable properties to auction to discerning investors:

  1. Bustling double storey Retail Plaza strategically situated in the Rustenburg CBD, on a main road out to Sun City. Fully let with a waiting list of potential tenants
  2. Saxonwold Offices, Gauteng. Set in the leafy suburb of Saxonwold, these Jan Smuts Avenue offices are a solid investment in an upmarket suburb. Double storey, available for immediate occupancy.
  3. A Corporate Disposal of a block of Offices & Residential, Germiston. Superb property with excellent income. Mobile operator rents roof space for a cellular tower. Well maintained overall.
  4. Edenburg Office Park, Rivonia. Situated in a sort after suburb in Johannesburg, this office park is a desirable investment for any commercial property investor. The premises are well-maintained, boasting a full power emergency generator.
  5. Asset Disposal at Hennopspark, Centurion, situated in a high demand industrial area. The property comprises six self-contained factories. All units are currently let.
  6. Student Res, Glen Austin, Midrand. Massive debit order annual income. The property has several self-contained brick structures with all the necessities and more. All assets included in the sale. Communal entertainment area with swimming pools.

The auction will take place at Summer Place, 69 Melville Road, Hyde Park.

For more information on the upcoming auction as well as a list of featured properties contact Nick Pretorius on This email address is being protected from spambots. You need JavaScript enabled to view it. or 082 669 7738 or visit www.highstreetauctions.com 

Last modified on Thursday, 29 May 2014 17:17

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