Auction Mania at Summer Place
The High St Auction Co held it's July property auction on the 27th of July at Summer Place taking a record number of properties to the auction floor.
41 lots with a combined market value of R330 million came under the hammer in a well balanced mix of properties on the day ranging from distressed inner city apartments to well let industrial and commercial investment properties and coastal leisure offerings.
Mark Kleynhans, Managing Director of the High St Auction Co comments, "Our team is thrilled with the results! Our July auction was undoubtedly a resounding success that could be seen not only from the number of properties that sold on the day but from the outstanding turnout of more than 100 registered, qualified buyers for the event.
"In advance of the auction we experienced a huge influx of enquiries and we believe that the market is clearly seeing the benefit of buying on auction and despite sentiment that the property market is still battling to fight off the effects of the recession, savvy investors are mining the right opportunities at this stage to grow and maximize their portfolio's.
"The team looks forward to building on the success of yesterday and we are now working on our next auction which will be held at Summer Place on 1st September 2011."