Jonathan Russell Smiedt
Chief Executive Officer
Writing the penultimate newsletter for 2017 made me realise just how quickly this year has gone by. Our country has had a tumultuous year on many levels, from cabinet reshuffles, to the state capture report, and most recently last week’s mid-term budget delivered by Finance Minister, Malusi Gigaba. It is important to note that through all the negativity, the property market has developed a certain level of immunity to these variables that affect our economy.
In fact, while we are seeing an increase in the number of owners wanting to sell their commercial and residential properties, so too the buyers are lining up to make these acquisitions. So while there may be a growing cohort of people wanting to become more liquid, there are many more property investors looking for the right opportunity and willing to pay a premium price for a good deal.
This month ClareMart is dominating the Atlantic Seaboard. In an instruction from the Bondholder, a 4-level executive home in Llandudno will go under the hammer on Thursday 23 November at 12 noon. Potential bidders will have the opportunity to drink in the ambience of this magnificent home, set against a backdrop of mountainous terrain and flanked by the Atlantic Ocean, all while fiercely competing to acquire this jewel.
In a Deceased Estate and on the instruction of the Executor, we are taking to market a two-bedroom apartment on the 3rd floor of a popular apartment block in Sea Point, with both sea and mountain views, on Wednesday 22 November at noon.
We also continue to see an increase in the number of private sellers who are recognising the benefits of selling their properties via auction, as opposed to traditional real estate channels.
A three-bedroom luxury apartment at Alphen House, 245 Beach Road Sea Point is on the auction floor at the last multiple auction for the year, on Tuesday 28 November, at the One&Only Hotel at the V&A Waterfront. Alphen House on Beach Road is known for its exclusivity and spectacular sea views. It is in close proximity to the Promenade and a fine selection of trendy restaurants.
Staying on the coast, the Western Atlantic Seaboard is also highly sought after, and ClareMart’s hammer will fall on an immaculate, 5-bedroom Big Bay home, in a security estate, on Thursday 9 November at noon.
Still on the West Coast, an insolvency matter on the instructions of Mazars Recovery and Restructuring will see us auction a multi-level home, on the water’s edge, with spectacular panoramic views across the bay in Strandfontein, on Friday 17 November at noon. This is an opportunity not to be missed for the discerning investor.
On the False Bay Coast, we are taking to market a prime beachfront commercial building in Strand, currently operating as a retail centre, on Tuesday 28 November at 12h30.
We are indeed excited about the incredible selection of high end properties we have been entrusted with and our sales team is already inundated with enquiries from serious property connoisseurs.
Looking back we have had an astounding last two months, with nearly R100m in sales. In many cases the properties had been on the market for a long time, with traditional real estate agents, none of whom had managed to secure an offer, until the properties were sold on auction, quickly, hassle-free and often exceeding the sellers’ price expectations.
We once again lived up to our reputation of finding the right buyer for the right property when we disposed of a range of repossessed properties nationwide, on behalf of one of SA’s Big 5 banks. Many of these properties were located in areas where the bank had simply not managed to sell via the tradition channels. Collectively the bids came to R15 million which was significantly higher than the return expected and were confirmed by the bank.
A fully-tenanted block of flats in Brooklyn, comprising six 2-bedroomed units that span approximately 65m² each, sold for R4 066 100, which many felt, was considerably above market value.
In a Deceased Estate matter, a two-bedroom home in the highly sought-after St John’s Road Sea Point sold for R4 456 000.
We have had several other successful sales during the month, where both sellers and buyers were extremely happy with the results our auctions achieved. Compared to traditional real estate channels, the auction floor now simply poses more benefits and generates better cash results for sellers.
As we push on into the home stretch for this year, our sales executives are working around the clock to ensure we continue to find great investment opportunities for our buyers and ensure me meet all our clients’ service requirements.
See you on the auction floor.
Jonathan Russell Smiedt
Chief Executive Officer