THERE was good bidding for popular properties at a well-attended multiple-property auction held by Aucor at the Inanda Country Club yesterday.
Sales were generally within the expected price range.
Interest rates will have an effect on sales in future, especially with smaller buyers. However, auctioneer Eddie Winterstein believes the serious investors have the money and will not be affected.
The auction kicked off with a luxury villas in Zimbali Coastal Estate. Number 7 The Pinnacles, a 532mē home with five bedrooms and en-suite, lounge, television lounge, games/snooker room and three garages. It sold for R4,5m.
Comparatively more modest was 12 Silverleaf, also in the Zimbali Coastal Estate, which fetched R2,5m. The 311mē house has three bedrooms with en suite bathrooms.
Bidding for two three-bedroom luxury maisonettes in Umkomaas was tardy. Winterstein had to do a lot of coaxing to get the bid up to R800000 for the first sale. The second maisonette did not fare better and was knocked down for R775000.
There was more interest in a cluster house with three bedrooms and three bathrooms on The Farm at Shelly Beach. Bidding started at R500000 and ended with a R1,2m bid.
A spacious waterfront home in Westlake Country and Safari Estate at Hartbeespoort Dam with four bedrooms all with en suite bathrooms, and special features like a private boat ramp to the dam, and a private jetty, attracted competitive bidding. It was knocked down for R2,85m, to a round of applause for the successful bidder.
Main feature of the day was des ribed as a hot retail corner in Boksburg. The 5400mē retail complex on North Rand Road, housing a warehouse and other buildings, achieved a hammer price of R15,25m, the highest bid at the auction.
A multistorey building at corner Eloff and Plein streets in Johannesburg was knocked down for R2,5m, and a six-storey warehouse and offices in Ophirton with a gross lettable area of 5200mē fetched R2,8m.
The Northvilla Terrace, a shopping centre with an eye-catching design at Celia Nestadt Road, Northvilla, Benoni, with a gross lettable area of 1000mē, sold for R6m.
There was little interest for a former garage at corner Susman and Ralda roads, Blairgowrie, and the best bid received was R1,7m.
Modern business premises in Bramley Park with a gross lettable area of 300mē on a stand of 1983mē sold for R850000.
A 25ha agricultural holding at Mooinooi, with an attractive Cape Dutch-style home, cottage and cold rooms was knocked down for R1,75m.
Bidding was keen for a 2,3ha stand at corner of Rietfontein and Dayan roads, Boksburg. The fully zoned land is being resold after a default purchase. Eager buyers pushed up the price to the final bid of R10,5m.
Other opportunities were two stands of 3100mē each on Sunset Avenue, near Fourways Crossing shopping centre. Advertised as suitable for showrooms, offices or residential purposes, it sold for R4,6m.
The last two residential stands of 586mē, each in Thornwood Estate, Faerie Glen fetched R550 000 a stand.
Two stands in Moffat View/South Hills, at the corner of Quantock and Salmon roads measuring 4210mē and 2886mē sold for R1,4m.
A property on President Thabo Mbeki Drive, Rustenburg, attracted interest. Bidding started at R500000 and reached an acceptable R1m.