Woodbrook industrial complex sold for R12, 2 million

An industrial complex in Woodbrook, offering extensive warehousing, office and yard space, sold for R12.2 million yesterday at a well attended auction conducted by Auction Alliance.

The property was sold as part of a liquidation and attracted strong interest with eight registered bidders and about 30 people in attendance. Bidding was competitive and the building was eventually knocked down for R12.2 million (all inclusive) to a local buyer, Dean De Villiers of Esta Properties (Pty) Ltd from King William's Town.

The property, situated on the corner of Brooklyn and Sheffield Streets in the well established industrial area of Woodbrook, East London, comprise a 9,657m² vacant, industrial building consisting of a factory floor, offices and change rooms with ablutions. There is a parking are outside the entrance to the factory, some with carports.

The entire site area size is 13,440m² and is zoned for industrial use.

Said Mike Bosch of Auction Alliance, "This property attracted considerable interest from local investors. The East London industrial segment has held it's own over the years and this property represented a considerable investment. We are very pleased with the result. This sale adds to an already impressive collection of auction sales achieved by Auction Alliance across the country this month."

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Posted at 07:25AM Jul 30, 2010 by Editor in Auctions  |