November 4 2024 10:28
SOUTH AFRICA
AuctionInc., South Africa’s most modern auction house, will end 2024 with aplomb as it hosts a bumper multi-purpose property event on November 21 in Johannesburg.
The company has enjoyed a tremendous year, and November is set to bring in record monthly sales for AuctionInc., CEO Ari Ben says.
A selected a mix of properties including mansions in the leafy upper-market suburb of Houghton, prime industrial land, income-producing industrial mini units which are a superb risk-free investment, and an assortment of spacious flatlets located in the west of Johannesburg, are included in the auction which will be held at Masingita House in Houghton Estate from 11am on the day. The Dinokeng Game Reserve and its game lodge with eight luxury chalets are also going under the hammer.
Real estate investors, entrepreneurs, financial institutions, and listed groups are expected to attend the auction in search of good deals. AuctionInc. has held monthly multi-property auctions throughout 2024, which have featured sought after and unique properties at its headquarters and has also staged well-attended on-site auctions.
An AuctionInc. event
The strong attendance is supported by the optimism which is growing in South Africa around its economic future and long-term investability, Ben says. This follows the formation of the Government of National Unity (GNU) after May’s free and fair election.
“We had a positive election result and while getting our country back on track, where the economy grows steadily and we are able to alleviate the poverty and unemployment which persists around us will be a long process, we are moving in the right direction,” says Ben.
“The auction industry has regained much momentum this year and it’s clear that South Africa is open for business again. For a few years real estate development was a leaner industry, and things were made worse by the pandemic. Now we are seeing dealmakers pull more triggers. Institutions are also backing people who want to build,” says Ben.
Given the renewed interest in development and investment, AuctionInc. has brought more “movers and shakers” together as different parties seek access to varied types of property.
“We are privileged to bring a diverse mix of high- quality properties to auction and are humbled that we can thrive as a business thanks to improved sentiment about the real estate in our country,” says Ben.
The green shoots which are appearing across South Africa bode well for the rest of 2024 and 2025. There has been no load shedding in the country since the start of Eskom’s financial year on April 1, 2024. The Generation Operational Recovery Plan and other state programmes have helped alleviate pressure on the energy grid, as have the introduction of numerous private players. AuctionInc. is enjoying record sales each month and as the interest rate cutting cycle continues with the first cut having been in September, more buyers will make offers for commercial and residential real estate.
The company is committed to providing a complete service to both prospective buyers and sellers. Properties which will feature at the multi-property auction will include a diverse mix. Among these are a group of residential properties in the suburb of Houghton and surrounds.
There are four properties which lie along Rose Road which hold heritage site status and three other properties which are situated in Houghton. Two of these properties are geared towards the development of residential and one is a half-built home.
Four unique properties located along Rose Road are up for auction
It is a unique offering for as many properties in the Houghton area to reach the auction floor. These properties include mansions which have been home to high-society and other prominent figures.
An AuctionInc. event
One example is 7 Rose Road which boasts seven bedrooms and three bathrooms. It comes with some of the best panoramic views of the north and south of Johannesburg. Built in the early 20th century it has a classical look with grand columns and a symmetrical façade. The property will offer investment opportunities to whoever buys it and then restores parts of it, including its exterior and interior finishes. The grounds include a patio and swimming pool, both of which need attention, along with lush gardens that can be revitalised to enhance privacy and beauty.
With attention, 7 Rose Road can stand again as a refined, picturesque haven that pays homage to its storied past, with a pleasing classic design and modern comforts.
AuctionInc. is optimistic that one buyer will acquire the whole portfolio of Rose Road and Houghton properties or perhaps two groups will each buy portions thereof. The properties’ positions are truly excellent for anybody wanting to invest in one of the city’s finest suburbs. These properties are close to premier schools: Rodean School (SA) and St John’s College as well as top-end shopping centres like Rosebank Mall and Killarney Mall.
The overall suburb of Houghton Estate is one of the most desired places to live in Johannesburg. Demographics are changing as professionals move in. There is a shortage of cluster homes priced between R5m and R7m. Auction Inc. itself has helped sell R60m worth of property in Houghton in the past year and a half.
Industrial land properties will also feature as more people look to invest in this burgeoning sub-sector.
“Industrial and logistics are popular among investors because its returns have been better than other commercial property types in recent years. The sector also has an impressive runway for long-term investment. Online shopping is just one example of something that is driving demand for warehousing and logistics,” Ben says.
AuctionInc. is auctioning 2.1 hectares of land in Bredell, Kempton Park. This property offers excellent opportunities and has exposure to the R21 highway, a critical road for logistics companies in Gauteng.
Bredell is an industrial hub which is getting noticed. There has been an uptick in industrial development in the area, driven by demand for industrial properties as well as the location. It is home to several blue-chip tenants including e-commerce giant Takealot. A tenant currently occupies a portion of the site and pays R18000 in rent per month. They intend to remain on the property until a new development is completed on it so the new owner will receive instant income. The value in the position of the land is undeniable with convenient access from two roads, 1st Road and 5th Avenue.
The Bredell address and size make this land suited to be a diesel depot, warehousing distribution centre or a space for light industrial use including self-storage and light manufacturing. Its proximity to strong tenants and useful transport routes makes it an attractive location for other industrial projects.
It has close access to the R21, R23, and other major highways, offering seamless connectivity to surrounding industrial nodes. O.R. Tambo International Airport is just minutes away, making it ideal for industries requiring logistics, warehousing, or export-import operations.
Bredell is also witnessing rapid development, given the growth of this burgeoning industrial node that attracts enterprises and creates job opportunities. This make its investment case stronger and numerous developers are looking for land in the area.
A group of mini-industrial units located in Prospur Business Park, which is a wholesale and retail industrial development, are also up for auction. These are sized between 92 m² and 135 m². They allow for mini warehouse and office space. The units can accommodate the likes of SMMEs, startups, light manufacturing and sole proprietors who need a mix of office and light-industrial space.
There is ample visitor parking available. The units are currently leased out ensuring instant income for the new owners.
Located on North Rand Road, the business park also has 24/7 security with boom gate access. There are good transportation links and easy access to main roads such as the N12, R24 and N1 highways.
An AuctionInc. event
AuctionInc. is a dynamic company with a skilled and diverse team. It has achieved several firsts, having introduced the leasing auction platform where people and companies can bid for leased space and, having hosted the first auction set in the metaverse.
The group achieves success because it understands how to use technology to modernise auctioneering. It allows for online auctions and for people to bid at live auctions while not present in the room.
AuctionInc. markets properties through its online portals, photography, street pole sign advertising, outdoor signage, and its extensive client database and industry-leading newsletter.
The company continues to couple tried and tested auctioneering principles with innovative techniques, making it shine on SA’s auctioneering landscape.
The November 21 multi-property auction promises to be a superb event as Auction Inc. achieves its best November yet.
For more information, contact Ari on 083 414 9811 or email ari@auctioninc.co.za
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