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Wednesday Mar 18, 2015

Tshwane property auctions going ahead

Old and newly-established black empowerment companies were among entities that had shown interest in the City of Tshwane's upcoming properties auction.

The City of Tshwane has appointed The High Street Auction Co to dispose of more than 80 selected land parcels with a combined value of R500 million to fund projects, including housing, aimed at improving lives of the poor.

The company's director and lead auctioneer, Joff van Reenen, said there was a strong interest in the land parcels since the list of those up for grabs was made public a few weeks ago.

"Quite a few of the younger upand-coming black developers have put consortiums together to help them try to access more of the land parcels that are up for auction," he said. "All of our buyers have emphasised that they had not seen opportunities like these come up for sale in over a decade."

Van Reenen said bidders were looking at the land for housing and part retail and commercial, while others were looking just for residential. This was what the City of Tshwane was pushing for when it initiated one of South Africa's highest property auctions to date, he explained. "Most, if not all, of the buyers have commended the city on how innovative this land release programme had been; not only has it never been done before, but the buyers would never have had access to such land under normal circumstances.

"They are all happy to play their part in the development of low, middle and high density residential projects that will help stimulate growth and create more opportunities for previously disadvantaged communities," said Van Reenen.

The first 20 properties will be auctioned at Summer Place in Hyde Park, north of Joburg, next Tuesday. The remainder of the properties will be going under the hammer in April and May.

The list includes Woodlane Village - the so-called Plastic View informal settlement - in Moreleta Park, and another property near the intersection of Bergamot and Anthesis streets in Lotus Gardens, which has a municipal clinic. However, the clinic will not be sold, and the property will be subdivided.

There is also a prime property near the intersection of Trevena and Steve Biko streets in Sunnyside, opposite Sunnypark Shopping Centre.

There are others in Himalaya Street in Laudium Extension 2, Mirca Avenue in Sinoville, and Soshanguve Extension 14, near the Halter Railway Station.

The first properties' list also has two plots near Capesis Street in Rooihuiskraal, and many others.

"We are expecting a big turn-out for the auction as there are 32 lots on offer, 20 of which are Tshwane's," Van Reenen said.

"Executive mayor Kgosientso Ramokgopa and his land auction committee will be attending the auction to reassure buyers as well as the public that he is committed to transforming non-core, non-performing assets of the city into productive reformation programmes aimed at uplifting those who need it."

Pretoria News

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