Pioneering Broll Auctions and Sales unlocks real estate value across South Africa
Established over 40 years ago, Broll Auctions and Sales has a proud reputation for successful property transactions, with billions sold in commercial real estate across all asset classes.
Today the company, which operates across South Africa, leads the way in bringing cutting-edge property technology to improve real estate processes and create user-friendly platforms for buyers and sellers.
“Auctions are the preferred choice for commercial property transactions as it is the fastest and most straightforward way to unlock value for sellers,” said Broll Auctions and Sales Chief Executive Officer, Norman Raad.
“Our extensive network of buyers, together with our brokers’ deep understanding of market dynamics help sellers maximise returns through a competitive bidding environment which achieves the best possible market-related price.
The evolution of property auctions
Property auctions in South Africa may have originated through bank repossessions and distressed sales, but over the past three decades, the market has realised that auctions add significant value to the sale of any type of property.
This ranges from warehousing to vacant land, retail centres to residential, filling stations to mixed-use properties, high rise apartment blocks and student accommodation.
Why choose to buy and sell on auction
Many of the world’s largest companies and listed funds use auctions as a sales tool to sell assets due to the transparent auction process which leads to quick disposals.
All parties involved with any transaction have equal access to information, adding a level of integrity and credibility to the process.
“Buyers arrive at an auction with finance pre-approved. Contrary to how traditional estate agents operate, the buyer pays the commission, reducing costs for the seller,” Raad said.
“The benefit for a buyer is that know they are dealing with a serious seller who will sell at the right price, in line with market expectations, and getting fair value.”
With a full suite of services, from property broking to valuations, marketing and advising on investment properties, choosing to sell with Broll means relying on years of expertise.
Going, Going, Gone
Their upcoming auction, at Johannesburg’s The Wanderers Club on May 22, will see 36 lots going under the hammer.
“Retail centres are trading well in South Africa at the moment, and we are bringing several solid opportunities to market this month,” said Raad.
A small 1782m² retail centre in Brits Central hits the sweet spot for the current favoured centre size and is perfect for an owner who will feed off the foot traffic provided by a banking tenant.
In Rustenberg, an expansive 6 300m² retail centre with a diverse tenant mix as well as an office component attracts customers both on foot and in vehicles in this busy business district.
In Johannesburg, Melville’s 9 907m² The Boulevard offers a prime leasehold opportunity for this well-tenanted corner retail centre with a strong anchor tenant and inviting cafes which are a hub for the area’s eclectic mix of residents. The double-storey retail centre also has solar installed on its roof.
In bustling Rosettenville, a 430m² service station with high visibility and easy access makes this auction lot a convenient pit stop for fuel, snacks, and other essentials. The station pumps an average of 440 000 litres per month.
Staying in Johannesburg, a Parktown heritage home by architect Sir Herbert Baker offers a versatile residential or commercial opportunity.
This extensive home, designed in the 1900s, offers a main house, summer house, additional summer house and entertainment area, and has striking rock cladding which is not only elegant but timeless and durable.
In the Western Cape, a commercial block on Paarl’s Main Road is expected to attract heated bidding.
Built in a Cape Dutch style, the building, which varies between two and four storeys, is well positioned and has the bonus of having private parking area to the rear. The property is offered with a leaseback clause.
Broll’s bidder registration process allows prospective buyers to participate in auctions either in person or online, creating greater accessibility and convenience.
Matching buyers with sellers
“With our track record of success, Broll has earned the trust and confidence of buyers who know that our auctions feature a diverse range of properties from different locations, different price points and across various asset classes.”
“Whether you want office space, industrial warehousing or a hospitality property, we can help prospective buyers align with their investment objectives,” Raad said.
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