2022 is set to be a busy year for AuctionInc and the property market as a whole. The green shoots of a post epidemic economic recovery are starting to be seen as consumers are confident to circulate in the market place and support the economy. The commercial and residential property industries stand to benefit from improved purchaser sentiment, favourable market conditions and appetite from financial institutions to provide funding for property acquisitions.

Since the onset of COVID 19, many auction companies were forced to change the way they conducted auctions by shifting the event to an online format. The benefits of running online auctions include lower costs in running auctions and convenience for the customer however a large competent of the excitement of an auction is lost. In Feb the SA Government reduced the alert level to 1, signalling that the country can relax their movements and behaviours. This bodes very well for the economy.

AuctionInc has announced its first Commercial Multi Property Auction taking place at the Houghton Hotel on March 8th 2022. There will be a cumulative total of over R300m commercial property going under the hammer on the day. The line-up of 25 high quality properties includes a diversified mix of assets ranging from retail centres to industrial and development opportunities. Some of the highlights of the auction include a 19 000m2 industrial facility in Dunswart with excellent height and truck reticulation, 2 retail properties with National tenants, a 6700m2 student accommodation redevelopment opportunity in the Pretoria CBD and multiple high yielding blocks of flats. Another property to look out for is a vacant office block in Ferndale, the property is ideal for an owner occupier to acquire as a head office or as a residential conversion opportunity.

According to AuctionInc CEO Ari Ben “we are pleased to be shifting our focus towards a live auction format, we have already received a high level of interest on the properties going on auction on our next multi prop and most of our clients have indicated that they will be attending the auction in person”. Although bidders have the option of bidding online or telephonically, its seems the general public are confident to in attend auctions in person again.

The auction is set to be an exciting event due to the popularity of the assets on auction. Bidding will take place live, online, and telephonically. Strict covid protocols will be adhered to, the auction will take place in a large, well-ventilated hall that allows for sufficient social distancing. Registration will be available online or at the venue from 11:00.A R50 000 registration deposit is required to bid on commercial assets and a R20 000 registration deposit is required on residential assets going on auction in the day. Don’t miss out on this exclusive event.