Broll Auctions and Sales’ 2024 finale is here
The Broll Auctions and Sales’ curtain falls on a dramatic and action-packed year of sales on November 21 when 2024’s final auction takes place at Johannesburg’s Wanderers Club.
“As usual our property market has kept buyers and sellers on the edge of their seats.
It has been a rollercoaster ride but the year is ending on a high as predicted,” said Norman Raad, CEO of Broll Auctions and Sales. “The number of attendees at our auctions this year has grown with each passing event; our October sale barely had standing room – this as investors realise the incredible value that is on offer right now.”
The upcoming auction has more than 50 diverse properties from across the country and covering all asset classes going under the hammer.
Auction Highlights
On auction in Pretoria is the historic 58-room Colosseum Hotel, a landmark property with vast redevelopment potential for student accommodation, commercial enterprises, or mixed-use redevelopment. “This site offers an opportunity to reimagine a piece of Pretoria’s history,” Raad said.
A tenanted, stand-alone ShopRite 2 283m² retail facility in Johannesburg’s Cosmo City is located in an area that ticks all the boxes to service a successful retail operation. “Assets such as these, with a prime lease and tenant covenants, rarely make it to the auction market as they are so desirable that owners tend to sell within their network. The owner of this asset wanted to offer it on the open market to unlock its true value.”
Staying in Johannesburg, the Northwold Retail Centre which is in business rescue, will be auctioned in a liquidation sale. “The property has a large erf of 7400m² with direct exposure onto Malibongwe Drive, and is looking for an investor looking to tap into its huge upside potential through redeveloping or re-tenanting the property.”
In Ballito, the last undeveloped road frontage on the R102, a corner plot in Northpoint, the North Coast’s largest commercial district is up for grabs. The almost 14 000m² plot is fully serviced and ready for development, with perimeter fencing.
Hot Western Cape assets up for grabs
A single-tenanted A Grade office building in N1 City is on offer. With a distinct design complemented by contemporary finishes, this building prioritises safety with a number of high-end security features including a bulletproof security guard house.
“A well-maintained, 68-unit apartment block with ground floor retail units in Parow Valley, on an erf of 4000m² is a rare opportunity for investors due to its 100% occupancy as well as the pristine condition of the building,” Raad said.
In Bellville, the SS Nassau block of apartments, with ground floor retail space, is going on auction.
“Directly opposite a Vodacom office, opportunities like this seldom make it onto the open market, especially in Cape Town where the market is hot.” The fully-let residential component has a waiting list, while the retail component has one vacant space currently under negotiation.
Industrial assets under the hammer
Prime zoned land in the heart of Midrand, in Gauteng Industrial Park, is an exceptional opportunity for investors and developers. “Zoned Industrial 1, this Clayville industrial yard has various potential uses including manufacturing facilities or an industrial park.
A commercially-zoned industrial warehouse in Glen Austin, Midrand on a site of close to two hectares is currently vacant, and perfectly positioned for manufacturing, supply chain, and fast-moving consumer goods sectors.
Remaining in Johannesburg, an 8200m industrial warehouse in the popular Meadowdale Industrial area, with easy access to OR Tambo International Airport and highways, will be sold vacant. “This property is ideal for any owner-occupier.”
“We are expecting to draw another large crowd and look forward to closing many successful deals before the end of 2024,” Raad concluded.
The auction starts at noon and more details are available at https://brollauctions.com/
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