Strategic property opportunities come under the hammer this month

“Where strategic disposals meet market opportunity” is how High Street Auctions director Greg Dart describes the company’s first auction for 2025.

A portfolio of properties that ranges from family homes and sectional title units and insolvent estates to residential and commercial investment opportunities as well as industrial and commercial development opportunities will come under the High Street Auctions hammer on 27 February.

“Insolvent property will make a significant contribution to this auction. The TRI (turnaround, restructuring and insolvency) sector is growing, which is why High Street has increased its team to deal with this. Post COVID-19, we are still seeing the fallout in the property market. People are looking to add liquidity to their businesses by selling properties to bolster their balance sheets,” Dart points out.

In light of this, he says High Street has invited senior business rescue practitioner George Nell to talk as a precursor to the auction. Titled “Business Rescue in South Africa: Stakeholder Relationships & Their Impact on Creditors, Employees & Shareholders”, Nell will share his significant expertise in navigating financial recovery.

“We are very privileged to host George as our guest speaker. His achievements and contribution to the industry are prodigious with, among others, having provided legal advice regarding restructuring and business turnaround in more than 1 000 corporate matters over the past 31 years as a practising attorney, business rescue practitioner and liquidator,” says Dart.

High Street Auction extended an invite to Nell as a guest speaker as part of its ongoing investment and participation in the TRI space. High Street was recently a joint sponsor of the South African Restructuring and Insolvency Practitioners Association (SARIPA) Insolvency Practice Summit. Nell is also a national board member of SARIPA, the professional body for insolvency practitioners and business rescue practitioners.

Dart acknowledges that, as business rescue becomes intrinsic to economic recovery in South Africa, High Street’s multi-property auctions are playing a key role in rapidly unlocking the true market value of property assets.

Examples of properties from insolvent states that will feature in the upcoming auction include a two-bedroom family home in K’Shane Eco Estate, Madibeng, which features en-suite bathrooms, an open-plan lounge and fitted kitchen with granite countertops; and a four-bedroom family home in Erasmia with three bathrooms, lounge, a kitchen and dining room as well as a study/office, domestic accommodation, a swimming pool and more.

Four additional Gauteng properties – a well-maintained three-bedroom sectional title unit in Sunny Rock, Germiston; a spacious three-bedroom unit in Morningside, Sandton, which is situated in the prestigious Woodburn Manor; a contemporary two-bedroom unit in The Poplar at Broadacres, Gauteng; and a charming one-bedroom unit, also in Morningside, Sandton – contribute toward the insolvency segment of this event.

In providing a balanced showcase of investment opportunities across multiple regions on auction, investors on the lookout for industrial and commercial opportunities in Gauteng and KwaZulu-Natal can choose from an impressive and well-located warehouse/logistics hub in Jet Park, Boksburg; a modern industrial property and warehouse in Briardene, Durban North; and a 2 875m² industrial facility in Jan Niemand Park, Pretoria.

A 1 013m² multi-use property offering ground-level retail shops and first-floor offices located opposite Sasolburg Mall; a mixed-use residential/retail facility in Pietermaritzburg; a prime, high-visibility retail commercial building in Vasco, Cape Town; a fully tenanted A-Grade office building in Waterfall Office Park, Midrand, Gauteng; a multi-use property in Bergbron, Northcliff; and a media, sound studio and event venue in Bryanston, Sandton will also draw bids at the end of this month.

An entire residential complex comprising 66 fully let units in Raslouw (pictured), with a gross annual income of R8.6 million, has attracted a great deal of interest – with many viewings having been completed and a very active floor expected on the day.

A number of pre-auction offers on properties are already submitted and under confirmation period.

Dart notes, “This is a good start to our auction calendar for 2025, and we anticipate robust deal flow this year. Properties are already being booked for our following auction in March, and these will be showcased soon to the market.”