Plumstead – Residential development site sold for R5 129 000 prior to auction

Apart from having facilitated many successful property auctions where the price obtained exceeds the expectations of sellers, many of them having gone the route of traditional real estate before turning to the auction floor, ClareMart Auction Group has also refined their systems in such a manner that they are often able to connect a buyer and seller before the property even hits the auction floor.

This was again demonstrated when a development site in Plumstead was scheduled for auction, but successfully sold for over R5m, as a direct result of the sales team knowing what property investors and developers are looking for and being able to connect a willing buyer to a willing seller.

Located in Plumstead, this property is in close proximity to major public transport infrastructure on the bus, taxi and train routes, as well as having quick access to major freeways. The erf spans 1 482m² and has plans approved for a three-storey residential block comprising 31 units, with no departures. The plans are currently with the City of Cape Town and scrutiny fees have already been paid.

“We are delighted to have closed this deal so speedily. It just goes to show that our business model is designed to succeed where other methods of sale often fail, particularly in challenging economic times. The buyer was most satisfied with the purchase and if developed for the rental market, there should be no shortage of tenants, as the demand for residential property in this area continues to soar,” said Mike Baigel, ClareMart Group Auction Executive.

For more information, on upcoming auctions or to list your property, contact Mike Baigel on, on 082 926 9479, 021 425 8822 and visit