Buying property via on-line auction accelerates in SA

BidX1’s next SA auction on 11 September

Savvy property buyers in South Africa have taken to acquiring a home or commercial property through on-line auctions with great alacrity, says MC du Toit, CEO, Auctions & Sales for BidX1 South Africa.

“Sellers also appreciate the immediacy of transactions via this method, as auction properties are not sold ‘subject to contract, finance or survey’. When a lot is sold, a legal and binding contract has been formed and so both buyers and sellers have peace of mind knowing there will be no negotiations back and forth.”

BidX1 South Africa’s next auction takes place on 11 September (2019) when close to 50 properties – many in prime locations and sought-after suburbs and estates – are available for purchase.

This comprises an impressive selection of residential and some commercial properties situated in various regions right around the country. They range from modest to luxury houses and apartments, including upmarket homes on secure, sought-after lifestyle estates to vacant stands both residential and commercial – such as a prime 23.8ha development site in Chartwell North, near Steyn City and Dainfern with a reserve price of R10 million.

Du Toit says among highlights of various properties featured is a uniquely styled four-bedroom, four-bathroom home set on an erf of 1 982sqm in Serengeti Golf and Wildlife Estate in Kempton Park, with a reserve price of only R7.75 million, with is probably more than 50% below estimated replacement value.

Only 10 minutes from OR Tambo International Airport and conveniently positioned between Johannesburg and Pretoria, this 2809ha conservation area has a variety of buck and bird life with dams around the course stocked with fish for catch and release fishing. With state-of-the-art security, a Jack Nicklaus signature golf course and private Curro school for pre-school to high school, the estate includes a clubhouse with bars and restaurants.

Adds du Toit: “Another noteworthy property offering excellent value is a six-bedroom, six-bathroom double-storey house in idyllic St Francis Bay, with a reserve price of only R2.1 million. Included in the bid price is the adjacent stand which will allow for further development to the existing property or to build another home, with the total combined stand size amounting to 1 452 sqm. St Francis Bay is well positioned midway between Port Elizabeth and Knysna.”

Other good buying opportunities offering sound value include a three-bedroom, two-bathroom spacious penthouse in Morningside, Sandton with an opening bid of R4 million. With easy access to all major hubs, the upmarket property is in a green, leafy suburb, around the corner from trendy restaurants, pubs, boutiques and sidewalk culture.

In Knysna on the scenic Garden Route, with a reserve price of R1.65 million is a two-storey, three-bedroom, two-bathroom home in an elevated position on a spacious stand, with sweeping views over Knysna, while another coastal property on auction is a three-bedroom, two-bathroom home with separate flatlet and garaging for four cars, well located in Shelly Beach, Margate on the KZN South Coast, close to Uvongo Beach, Southcoast Mall and hospitals, with an opening bid of R900 000.

In Bloemfontein, a three-bedroom, two-bathroom house in a secure, upmarket retirement estate, Woodland Hills Wildlife Estate, goes under the ‘hammer’ with a reserve price of just R1.4 million. Ideal for development is a 1 915sqm vacant plot in a private pan handle in Monte Sereno, an upmarket suburb in Somerset West in the Cape Winelands. With exceptional mountain and sea views and close to top primary and high schools, this prime located site has a reserve price of R2.5 million.

Also on auction is an exclusive six-bedroom, five-bathroom family home with swimming pool, tennis court, bar and entertainment area in Meyersdal, Alberton in Johannesburg South, available to purchase with an opening bid of R4 million. And located in renowned Arabella Golf Estate near Hermanus is another exclusive home with swimming pool, and overlooking the golf course, comprising four bedrooms and five bathrooms, with an opening bid price of R3 million.

Adds du Toit: “On the commercial front, apart from the Chartwell North development site, a large, industrial premises in Wellington Industrial Park in the Cape Winelands is well positioned with easy access to the N1 and Paarl. In excellent condition with high visibility, the property comprises approximately 3 199sqm under roof on an erf of 4 968sqm. Being sold with a reserve price of R9.5 million, this is a double volume factory with various production areas and including cold rooms, offices, kitchen, staff facilities, ablution facilities and good quality internal finishes as well as two loading bays with high clearance and secure parking for approximately 31 cars.”

Other commercial properties on auction on 11 September include four consolidated erven on 4 276sqm with hotel zoning, which was formerly site of the Bainskloof Hotel in Bainskloof Pass, only about an hour-and-a-half from Cape Town and on the scenic route between Wellington and Ceres/ Worcester. The property is situated in two nature reserves, with proposed plans for a 60-key lodge and conference centre available as well as approved sub-division of the stand back into four smaller properties. With a reserve price of R2.8 million, the site has road access on three sides.