KEEPING YOUR FINGER ON THE PULSE OF THE PROPERTY MARKET

Rylands Estate – Small shopping complex sell for R6,4m

More and more property owners are recognising the tangible benefits of selling their properties via auction. From the speed with which transactions are concluded, to the transparency of the process, from the cost saving perspective of the seller not paying commission to the ability to sell voetstoots. However you look at it, auctions seem more appealing than going the route of the traditional estate agent.

ClareMart Auction Group, at the last multiple auction held in June, successfully sold this commercial property located on the Cape Flats, for a staggering R6 405 500.

The building is situated on the corner of Ruth Street in Rylands, and comprises four shops, with ample off-street parking in the front and tenant parking in the back. Rylands is an eclectic mix of residential and commercial properties and an area that benefits hugely from foot and vehicular traffic.

“The notion that buyers come to an auction to pick up bargains or properties at well below market value, is a myth that is fast being dispelled. Our auctions are traditionally attended by serious property investors, who are prepared to compete fiercely for the right investment. The market dictates what the property is worth and our prospective buyers, most of whom are cash buyers, are acutely aware of what the markets are doing. This particular property attracted huge interest among investors from all over the city, and in the end both the buyer and seller were extremely satisfied with the outcome,” said Andrew Edelstein, ClareMart Senior Auction Agent who listed this property.

For more information about other properties on auction, contact Andrew Edelstein, on 082 940 0478 or 021 425 8822 or andrewe@claremart.co.za and visit www.claremart.co.za.