Message from the CEO


Jonathan Russell Smiedt

Chief Executive Officer

South Africa’s Finance Minister last week announced plans to improve the country’s economic state as we stand on the brink of a recession. In the face of tough times and pressure on our economy it remains important to note a significant surge in the amount of properties and particularly high-value properties that are being sold on the auction floor.

Many sellers holding both commercial and residential properties are indicating a need to free up cash reserves for alternative property investments or a more liquid status. These investors are consciously selecting the auction floor over traditional methods of sale, as the speed with which auction transactions are being finalised, makes this option simpler and it casts the net wider, as industry leaders report a growing market share.

Some estate agents are talking of only mildly consistent stock levels in these times. However instructions received by our Group from government departments, private sellers, institutions, funds and the legal fraternity have doubled in the last three months. This month alone, our commercial division has reported an increase in sole mandates with over 26 commercial properties with a value in excess of R250m being sold at our next multiple auction at the One&Only Hotel on 25 July.

Three very popular retail centres in Kuils River and Brackenfell, all fully tenanted, present great investment opportunities in the Northern Suburbs.

With the continued growth in the rental market for secure accommodation, a massive apartment complex in Brackenfell, comprising four double-storey blocks each housing 12 sectionalised units is bound to draw highly competitive bids at this auction.

A 10 757m² industrial complex, in Blomvlei Road Lansdowne, with a AAA lease comprising showrooms, offices and warehousing, and fully tenanted for the next year, with a current nett annual rental income of R4 679 810 is a highlight of the upcoming multiple auction.

A “no reserve” auction is always hugely popular and in a high profile business rescue matter, our hammer will fall on 53Ha of prime mountainside land in Rooi Els. Development land is the perfect blank canvass to create your dream home and a 970m² site in the very exclusive Llandudno on the Atlantic Seaboard, is definitely a rare investment opportunity not to be missed.

Due to the current rapid increase in auction instructions, our national footprint has grown, and to meet these demands, we are now committed to investing a larger financial marketing plan to ensure our clients have their properties and assets exposed to the widest possible network, to meet their disposal expectations.

We have repeatedly seen that the values unlocked on the auction floor are significantly higher than expected and we look forward to embracing this growing movement towards auction sales as a method of choice in disposing of both movable and fixed assets.

See you on the auction floor.

Jonathan Russell Smiedt
Chief Executive Officer