In a Bondholder Instruction, ClareMart Auction Group recently sold 9.6 hectares of pristine development land, located on the urban edge, in Paarl, for R24.2m. Plans had previously been approved for a retirement village, and with the constant growth in the demand for upmarket and secure retirement living in the Cape Winelands, this is certainly a very lucrative investment opportunity.
This property could not sell with traditional real estate channels and failed to attract a single offer worth considering. With ClareMart's well maintained database of qualified cash buyers, and an extensive advertising campaign, investors are kept informed of properties that match their specifications, which results in serious buyers attending the auction.
“Investors in the know undoubtedly recognised the massive potential for development. The auction drew fiercely competitive bids, and in the end, we were able to secure a cash sale, which has been confirmed,” said Andrew Koch, ClareMart Group Executive Director.