The African National Congress is starting its “dispute resolution process” in a bid to address the a.
A PRIME piece of Fourways land - in the heart of one of South Africa's fastest growing areas - will come under the hammer on Tuesday.
The 2,5hectare rectangular-shaped property, the subject of a liquidation, is within minutes of Fourways Mall and lies in the middle of prestige residential areas such as Cedar Lakes.
Park Village Auctions' (PVA) Peter Havenga, who is handling the mandate, says the land lends itself ideally to either residential or commercial development or to mixed use application. It is currently zoned agricultural holdings.
Havenga anticipates bid prices of between R4,5m to R5m for what he describes as a gem of a property with enormous potential for development.
Access to the property is obtained off Cedar Road into Alexander, leading to the site at 5 Randa Road, Craigavon.
The sale forms part of PVA's upcoming multiple property auction at the Wanderers Sports Club on Tuesday commencing at noon.
It will feature a range of other properties that include Bedfordview, Germiston, Rand Leases, Alberton, Edenvale, Marlboro, the Johannesburg CBD, Hillbrow and Wynberg.
One of the Bedfordview properties is brand-new and includes offices, ablutions, ample parking and excellent security. The second sale in this area is of a sectionalised office facility with warehouses and with ample parking and good security.
The third Bedfordview offering is also brand-new and comprises two storeys with open plan offices and various ancillary facilities currently generating a rental of R10000 per month. All three are at 84 Concorde Road, Bedfordview.
Among the other notables of the upcoming sale is the Court Hotel in Germiston. This is a four-storey property opposite the council offices and court house. It is attached to the Standard Bank building.
It has tremendous potential in its present role, or can be converted in to flats with fast food outlets on the ground floor.
The Edenvale property on sale has leases in place.
There's a three-storey face brick building in Commissioner Street, Johannesburg, which is perfect for residential conversion with a supermarket on the ground floor. A Hillbrow block of flats has 49 bachelor units while the double-storeyed Wynberg property has excellent street exposure and security. Another Germiston property in a high traffic area has retail and letting tenants.
In addition, the sale features a brand-new face brick building in Rand Leases and a well maintained property in New Redruth offering good office accommodation.
Lawrence Wulfsohn of PVA says: "Interest in auction property remains solid. Judging by initial enquiries about our June sale, there will be a good turnout and some strong bidding.
"The message remains: if you have the wherewithal and the foresight, now is the best time to buy commercial property with a view to the inevitable recovery of the market."
For further information, please call 011-789-4375/6/7 or www.parkvillageauctions.co.za